Digest

This episode of the Economist Intelligence podcast delves into three distinct but interconnected topics. Firstly, it examines the potential impact of a new mega refinery in Nigeria on the country's long-standing fuel subsidy system. The refinery, built by Aliko Dangote, could increase the supply of domestically refined petrol, but the government faces a crucial decision: whether to allow the refinery to sell at a market price. This could lead to a significant increase in petrol prices, but it also presents an opportunity to reform the system and invest in healthcare and education. Secondly, the podcast explores the changing relationship between Texas and Bitcoin mining. While Texas has been a popular destination for Bitcoin miners due to its cheap power and libertarian ethos, the state's grid is becoming increasingly fragile, and Bitcoin mining is contributing to the problem. Texas politicians are starting to express frustration with Bitcoin miners, who are benefiting from the state's energy crisis. Finally, the episode discusses the global boom of Indonesian horror films. Driven by the country's rich folklore and a new generation of filmmakers, Indonesian horror films are gaining international recognition. The genre's popularity in Indonesia stems from its strong cultural connection and the use of ghost stories to discipline children. The rise of streaming has played a significant role in spreading Indonesian horror globally, and filmmakers are hopeful that their work will introduce audiences to Indonesian culture.

Outlines

00:00:00

Global Trends: Nigeria, Texas, and Indonesia

This episode explores three distinct but interconnected topics: the impact of a new mega refinery on Nigeria's petrol prices, the growing tension between Texas and Bitcoin mining, and the global rise of Indonesian horror films.

00:01:12

Nigeria's Petrol Price Hike: A New Refinery, A New Era?

The podcast discusses the long-standing issue of fuel subsidies in Nigeria, which have led to chronic shortages and corruption. The new mega refinery built by Aliko Dangote could increase the supply of domestically refined petrol, but the government must decide whether to allow it to be sold at a market price. This could lead to a significant increase in petrol prices, but it also presents an opportunity to reform the system and invest in healthcare and education.

00:10:52

Texas Turns on Bitcoin Mining: Energy Crisis and Political Backlash

Texas has been a popular destination for Bitcoin miners due to its cheap power and libertarian ethos. However, the state's grid is becoming increasingly fragile, and Bitcoin mining is contributing to the problem. Texas politicians are starting to get fed up with Bitcoin miners, who are benefiting from the state's energy crisis.

00:17:04

Indonesian Horror Films Take the World: Folklore, Streaming, and Global Appeal

Indonesian horror films are experiencing a global boom, driven by the country's rich folklore and a new generation of filmmakers. The genre is popular in Indonesia due to its strong cultural connection and the use of ghost stories to discipline children. The rise of streaming has helped spread Indonesian horror globally, and filmmakers are hopeful that their work will introduce audiences to Indonesian culture.

Keywords

Q&A

• What are the potential consequences of Nigeria removing fuel subsidies?

  Removing fuel subsidies could lead to a significant increase in petrol prices, which could cause unrest and economic hardship. However, it could also free up government funds for investment in healthcare and education, which could benefit the country in the long run.

• How is Bitcoin mining impacting the Texas energy grid?

  Bitcoin mining is contributing to the strain on the Texas energy grid, which is already facing challenges due to population growth and extreme weather events. Bitcoin miners are also benefiting from the state's energy crisis by manipulating the energy market, which is causing resentment among Texans.

• What makes Indonesian horror films so successful?

  Indonesian horror films are successful due to their strong cultural connection, drawing on the country's rich folklore and mythology. The genre is also popular because of its use of ghost stories to discipline children, which resonates with Indonesian audiences. The rise of streaming has helped spread Indonesian horror globally, introducing audiences to the country's unique cultural identity.

Show Notes