From what I've heard about the guy over the last few months and especially during the Democratic National Convention last week, the guy wants America to be independent of oil as a source of energy in ten years (I don't know if that's possible to be honest- but let's assume it is anyway). For this to happen, I believe America will have to be able to design cars that run on solar energy and electrical cars (there are some out already but they are highly inefficient, can usually only go a couple hundred miles and need six hours or more to be charged not to mention the cost of buying one- but lets assume it gets more efficient wit time anyway) but not bio-fuels though (at least not solely). If America is able to develop this technology in that ten-year period, I am pretty certain the Japanese Auto industry and others in Europe and around the world will develop that same sort of technology and Nigerians will inevitably import these cars (I really wish I could say develop similar technology but that is sadly not going to be the case in the near future).
Anyway, my point is that the demand for our bonny crude and crude oil around the world generally will face a sharp decline. As you may or may not know, oil makes up over 90% of Nigeria's Foreign Exchange with the rest of the world. We have failed time and time again to have a sufficiently diversified economy and if Mr. Obama can put his money where his mouth is Nigeria may be in even bigger poo than it already is- or maybe just the few Nigerians that benefit from oil (those who work for oil companies, sell the stuff, contractors, services companies, government officials etc) as it doesn't do much for majority of Nigerians. Then again maybe it will finally lead to a more diversified economy than we already have- one can dream. What do you think?