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Wednesday, January 14, 2009

Price Controls & favoritism for NOCK - More future scams to come

I have argued that market solutions work best for businesses... (look at the scandals at NCPB & KPC)

Well... the idiots (or conmen) in the Kenyan government are at it again... they used the fuel shortages (caused by Kenyan government's incompetence) to attack Oil Marketers & demand price controls...

Furthermore, the gov't in its infinite stupidity wants to give NOCK (a government subsidised entity) the right to import 30% of Kenya's petroleum needs... which will lead to massive corruption...

So pray the idiots do not get their way or I will have to say... "I told you so" again...

BTW... here are past scams at KPC

2 comments:

Godfrey said...

I can predict that after NOCK has acquired a significant market share (through arm twisting) there will either be a NOCK IPO or sale of shares to 'strategic investors.' No marks for guessing who'll end up with the shares.

coldtusker said...

Godfrey: I think the new scheme is to simply scam asap... The NOCK process would take 2-3 years & 2012 will be here... The straightforward theft is 'immediate gratification'...