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Important economic consequences to the US economy because of declining US influence
- Thread starter SouthAmerica
- Start date
.
Limitdown: â¦So, how does any of this translate into a better way to hedge a trade?
or, how does any of this translate into better insight into Foreign Currency Trading?
or, how does any of this translate into Equity trading in another country?
Most of us on this board attempt to:
1) make an "issue" statement
2) relate it to trading
3) attempt to profit from the discussion.
**********
April 25, 2006
SouthAmerica: Reply to limitdown
I donât know why most traders on this message board missed the point of what happened between Bush and the Chinese president.
Today we have major economic imbalances and problems between China and the United States that affect trade, currency, transfer of good paying jobs from one economy to the other and so onâ¦
The Chinese leader was so insulted and furious with the breaks in protocol during his visit to Washington that he did not feel like discussing anything with George W. Bush â never mind making concessions of any kind to help the US cause.
And you can bet - the bad taste of this trip will be in the Chinese leadersâ mouth for months to come and he will remember that every time - when the US comes calling to ask for help regarding Iran, North Korea, currency policy and many other economic and political issues.
Believe it or not but this kind of information affects trade and cooperation between both countries in turn having an important impact in everything you guys do in Wall Street including the value of the currencies â maybe now after this trip China will be more flexible and will throw another bone to the United States and will devalue its currency by another 2 percent.
Or maybe the Chinese leader will tell his central banker to stop buying US government securities â and even request that he starts dumping some of the US denominated assets that they are holding.
If you are able to read between the lines you will see the economic implications of what is happening today.
*********
Libertad: Brazil is now 100% energy independent because of their vision of the future with regards to oil use...
Other countries are following along....and receiving Brazilian expertise in cane ethanol production...automotive adoption to alt fuels...for which they have been perfecting for over 30 years...
*********
SouthAmerica: Reply to Libertad
Yesterday on the evening news they said that Bill Gates is investing millions in Ethanol â he just made a large investment in that area. What I donât understand is the type of Ethanol that Bill Gates is investing in since his type it produces a lot less Ethanol than from the same amount of effort to produce Ethanol from sugar cane.
By the way, The New York Times had a great front page article on April 10, 2006 about Ethanol production in Brazil â it was a long article and the article said the following:
âEthanol can be made though the fermentation of many natural substances, but sugar cane offers advantages over others, like corn. For each unit of energy expended to turn cane into ethanol 8.3 times as much energy is created, compared with a maximum of 1.3 times for corn, according to scientists at the Center for Sugarcane Technology here and other Brazilian research institutes.
âThereâs no reason why we shouldnât be able to improve that ratio to 10 to 1,â said suani Teixeira Coelho, director of the National Center for Biomass at the University of Sao Paulo. âItâs no miracle. Our energy balance is so favorable not just because we have high yields, but also because we donât use any fossil fuels to process the cane, which is not the case with corn.â
***
There is one thing that The New York Times article did not mention since the article was about energy related to transportation â I understand there are about 357 sugar refineries in Brazil today and there are over 50 more under construction.
Today Brazil is the largest Ethanol producer in the world.
All these Ethanol refineries use what was left over from the cane sugar after they took out their juice as a source of fuel to create electricity to power these refineries â but they are creating an excess in electric power than the amount of energy they need to power these refineries â and the extra electric power they are selling to the local power electric companies that in turn distribute it to their electric power customers.
Millions of people in Brazil today get their electric power from these sugar cane refineries and another benefit of this efficient system is that is saving Brazil billions of US dollars - if Brazil had to import oil to produce the same amount of energy.
It is a win-win situation for Brazil and the Brazilian people.
*********
Here is another example of one of the great contributions to this forum from the âBolshevikâ:
Ivanovich: (Better known was the âBolshevikâ)
Can we move this to chit-chat?
In mother Russia, when we donât like the subject of a thread we move them to Chit-Chat.
*******
SouthAmerica: Reply to the Bolshevik
For you that might be just chit-chat because you donât have a clue about the impact that energy policy has in the economy of any country including Brazil and the United States.
By the way, do you ever make any contributions to the discussions on this message board other than your standard comment: âcan you move this to chit-chat?â
**********
03-16-06 05:32 PM
Ivanovich: The Bolshevik
________
Quote from YeahIknow:
Stop is 121.85 i.e. 100pips. Dont believe in Fibonnaci.
________
Yep.
I cannot believe this rise is still going - I thought it would consolidate before continuing on through overbought conditions like this. But the market - AS USUAL - is taking things to the extreme.
*********
April 25, 2006
SouthAmerica: Reply to the Bolshevik
If you think the euro is too high versus the US dollar today â just wait and see what is going to happen to the value of the US dollar in world markets before the end of 2006.
.
Limitdown: â¦So, how does any of this translate into a better way to hedge a trade?
or, how does any of this translate into better insight into Foreign Currency Trading?
or, how does any of this translate into Equity trading in another country?
Most of us on this board attempt to:
1) make an "issue" statement
2) relate it to trading
3) attempt to profit from the discussion.
**********
April 25, 2006
SouthAmerica: Reply to limitdown
I donât know why most traders on this message board missed the point of what happened between Bush and the Chinese president.
Today we have major economic imbalances and problems between China and the United States that affect trade, currency, transfer of good paying jobs from one economy to the other and so onâ¦
The Chinese leader was so insulted and furious with the breaks in protocol during his visit to Washington that he did not feel like discussing anything with George W. Bush â never mind making concessions of any kind to help the US cause.
And you can bet - the bad taste of this trip will be in the Chinese leadersâ mouth for months to come and he will remember that every time - when the US comes calling to ask for help regarding Iran, North Korea, currency policy and many other economic and political issues.
Believe it or not but this kind of information affects trade and cooperation between both countries in turn having an important impact in everything you guys do in Wall Street including the value of the currencies â maybe now after this trip China will be more flexible and will throw another bone to the United States and will devalue its currency by another 2 percent.
Or maybe the Chinese leader will tell his central banker to stop buying US government securities â and even request that he starts dumping some of the US denominated assets that they are holding.
If you are able to read between the lines you will see the economic implications of what is happening today.
*********
Libertad: Brazil is now 100% energy independent because of their vision of the future with regards to oil use...
Other countries are following along....and receiving Brazilian expertise in cane ethanol production...automotive adoption to alt fuels...for which they have been perfecting for over 30 years...
*********
SouthAmerica: Reply to Libertad
Yesterday on the evening news they said that Bill Gates is investing millions in Ethanol â he just made a large investment in that area. What I donât understand is the type of Ethanol that Bill Gates is investing in since his type it produces a lot less Ethanol than from the same amount of effort to produce Ethanol from sugar cane.
By the way, The New York Times had a great front page article on April 10, 2006 about Ethanol production in Brazil â it was a long article and the article said the following:
âEthanol can be made though the fermentation of many natural substances, but sugar cane offers advantages over others, like corn. For each unit of energy expended to turn cane into ethanol 8.3 times as much energy is created, compared with a maximum of 1.3 times for corn, according to scientists at the Center for Sugarcane Technology here and other Brazilian research institutes.
âThereâs no reason why we shouldnât be able to improve that ratio to 10 to 1,â said suani Teixeira Coelho, director of the National Center for Biomass at the University of Sao Paulo. âItâs no miracle. Our energy balance is so favorable not just because we have high yields, but also because we donât use any fossil fuels to process the cane, which is not the case with corn.â
***
There is one thing that The New York Times article did not mention since the article was about energy related to transportation â I understand there are about 357 sugar refineries in Brazil today and there are over 50 more under construction.
Today Brazil is the largest Ethanol producer in the world.
All these Ethanol refineries use what was left over from the cane sugar after they took out their juice as a source of fuel to create electricity to power these refineries â but they are creating an excess in electric power than the amount of energy they need to power these refineries â and the extra electric power they are selling to the local power electric companies that in turn distribute it to their electric power customers.
Millions of people in Brazil today get their electric power from these sugar cane refineries and another benefit of this efficient system is that is saving Brazil billions of US dollars - if Brazil had to import oil to produce the same amount of energy.
It is a win-win situation for Brazil and the Brazilian people.
*********
Here is another example of one of the great contributions to this forum from the âBolshevikâ:
Ivanovich: (Better known was the âBolshevikâ)
Can we move this to chit-chat?
In mother Russia, when we donât like the subject of a thread we move them to Chit-Chat.
*******
SouthAmerica: Reply to the Bolshevik
For you that might be just chit-chat because you donât have a clue about the impact that energy policy has in the economy of any country including Brazil and the United States.
By the way, do you ever make any contributions to the discussions on this message board other than your standard comment: âcan you move this to chit-chat?â
**********
03-16-06 05:32 PM
Ivanovich: The Bolshevik
________
Quote from YeahIknow:
Stop is 121.85 i.e. 100pips. Dont believe in Fibonnaci.
________
Yep.
I cannot believe this rise is still going - I thought it would consolidate before continuing on through overbought conditions like this. But the market - AS USUAL - is taking things to the extreme.
*********
April 25, 2006
SouthAmerica: Reply to the Bolshevik
If you think the euro is too high versus the US dollar today â just wait and see what is going to happen to the value of the US dollar in world markets before the end of 2006.
.
.
September 15, 2006
SouthAmerica: George W. Bush does not have influence today even around his own backyard.
Today, the United States' clout around the world is in free fall, and this decline is a direct result of the Bush administration's arrogance and complete incompetence.
***********
âCuba assumes NAM leadershipâ
Friday, 15 September 2006
AP â Associated Press
Cuba has assumed the leadership of the Nonaligned Movement but the presidency has fallen to his Fidel Castroâs younger brother, Raul Castro.
The summit of two-thirds of the world's nations opened on Friday in Havana with a stream of anti-American rhetoric.
Raul Castro acknowledged his older brother's illness after accepting Cuba's three-year chairmanship with a round of applause from the 118-nation group.
Raul, the acting president of Cuba, said the world today is shaped by Washington's irrational pretensions for world dominance.
"When there no longer is a Cold War, the US spends one billion dollars a year in weapons and soldiers and it squanders a similar amount in commercial publicity," he said.
"To think that a social and economic order that has proven unsustainable could be maintained by force is simply an absurd idea."
Support for Iran
During the conference, Hugo Chavez, the Venezuelan president, pledged his support for Iran if it is invaded by the US for its nuclear aspirations, and threatened to cut oil supply to the US if Cuba is invaded.
"Iran is under threat; there are plans to invade Iran. Hopefully it won't happen, but we are with you," Chavez told Mahmoud Ahmadinejad, the Iranian president.
Chavez said: "Under any scenario, we are with you just like we are with Cuba, If the United States invades Cuba, blood will run ... We will not have our arms crossed while bombs are falling in Havana or they carry Raul off in a plane."
Ahmadinejad told the assembly on Friday that "Cuba's fight for liberation from imperialism has been a source of inspiration for the world's peoples".
Growth of the assembly
The Nonaligned Movement was formed during the Cold War to establish a neutral third path in a world divided by allegiances to the US and the Soviet Union.
It now counts 118 members with the addition of Haiti and St Kitts this week.
Chavez has been outspoken in advance of next week's UN general assembly session in New York, where nations will debate Iran's nuclear ambitions and Venezuela's campaign for a Security Council seat.
But Raul Castro also spoke forcefully, urging the gathered developing nations to unite against unacceptable acts of aggression.
Raul Castro said: "With regard to international relations, we are not the decisive force that we could be. Nonaligned Movement now has to wage courageous battles against unilateralism, double standards, and the impunity granted to those in power, for a fairer and more equal international order."
For his part, Kofi Annan, the UN secretary-general, said the world has changed dramatically since Cuba last hosted the movement in Havana 27 years ago, and that developing nations have new responsibilities and opportunities to promote democracy, protect human rights and develop a civil society.
"The collective mission of this movement is more relevant than ever," he said.
The US declined an invitation to attend, and said it would have no comment on the proceedings.
*****
â14th Non-Aligned Movement Summit opens in Havanaâ
Peopleâs Daily â China
September 16, 2006
Raul Castro, Cuba's first vice- president and defense minister, officially announced the opening of the 14th Non-Aligned Movement Summit of heads of state or government in Havana on Friday.
Representatives from over 100 countries, including 68 heads of state or government, attended the summit at the Conference Palace.
The summit is expected to discuss and come up with a declaration on NAM's stance regarding contentious world issues, among others, Israeli aggressions against Palestine and Lebanon, the reform of the United Nations, the re-establishment of multilateralism, NAM's central role in world affairs, South-South cooperation, anti-poverty, protectionism and foreign debt.
Cuban leader Fidel Castro temporarily handed over his power to Raul Castro because of illness.
Abelardo Moreno, Cuban deputy foreign minister and spokesman for the summit, told a press briefing that four draft documents will be submitted for approval to the heads of state or government when they convene on Friday and Saturday.
That documents will ratify the role of the Non-Aligned Movement as a forum of political coordination of underdeveloped nations to promote and defend their common rights and in favor of unity, solidarity and cooperation among member nations.
Moreno said that a document on the operational methods of the Non-Aligned Movement had been agreed upon. He said it takes on new aspects such as moving to set up a support office to the NAM presidency in New York.
Cuba will take over the leadership of the NAM from Malaysia. Cuba is the venue of this forum for the second time, and assuming its presidency for the next three years, meaning it accepts the huge challenge of defending the groups's positions, Moreno said.
The heads of state and government started their talks on Friday, after four days of preparatory meetings. Haiti and St Kitts and Nevis were set to be formally accepted into the movement, swelling its ranks to 118.
A Chinese government delegation led by Vice Foreign Minister Yang Jiechi attended the summit as an observer. China became an observer to the NAM in 1992.
Source: Xinhua
**********
âRaul Castro: G-15 Is Pivotalâ
PL â September 15, 2006
Havana, (PL) Cuba´s First Vice President Raul Castro highlighted the role of the Group of 15 as a catalyst in increasing cooperation among nations of the Southern Hemisphere, when speaking at the opening of the G-15 Summit in Havana Thursday.
The vice president told the group of 17 top officials of developing countries, meeting in parallel with the 14th Non-Aligned Movement Summit, that it is at a point where it can strengthen its role to confront the growing challenges of globalization and development.
Cuba appreciates the special attention the G-15 offers in matters of trade, development, finances and cooperation and ultimately, the interests of G-15 are those of the developing world, he affirmed.
G-15, created by NAM, is the medium with which to increase South-South cooperation and make possible greater cohesion and solidarity among developing nations to bring about a more fluid and positive North-South dialogue, Raul Castro added.
Our countries have no alternative than to unite and concentrate our actions on confronting the common obstacles we face, he said.
The Group of 15 is now composed of 17 members: Algeria, Argentina, Brazil, Colombia, Chile, Egypt, Jamaica, India, Indonesia, Iran, Kenya, Malaysia, Mwxico, Nigeria, Peru, Senegal, Sri Lanka, Zimbabwe and Venezuela.
.
September 15, 2006
SouthAmerica: George W. Bush does not have influence today even around his own backyard.
Today, the United States' clout around the world is in free fall, and this decline is a direct result of the Bush administration's arrogance and complete incompetence.
***********
âCuba assumes NAM leadershipâ
Friday, 15 September 2006
AP â Associated Press
Cuba has assumed the leadership of the Nonaligned Movement but the presidency has fallen to his Fidel Castroâs younger brother, Raul Castro.
The summit of two-thirds of the world's nations opened on Friday in Havana with a stream of anti-American rhetoric.
Raul Castro acknowledged his older brother's illness after accepting Cuba's three-year chairmanship with a round of applause from the 118-nation group.
Raul, the acting president of Cuba, said the world today is shaped by Washington's irrational pretensions for world dominance.
"When there no longer is a Cold War, the US spends one billion dollars a year in weapons and soldiers and it squanders a similar amount in commercial publicity," he said.
"To think that a social and economic order that has proven unsustainable could be maintained by force is simply an absurd idea."
Support for Iran
During the conference, Hugo Chavez, the Venezuelan president, pledged his support for Iran if it is invaded by the US for its nuclear aspirations, and threatened to cut oil supply to the US if Cuba is invaded.
"Iran is under threat; there are plans to invade Iran. Hopefully it won't happen, but we are with you," Chavez told Mahmoud Ahmadinejad, the Iranian president.
Chavez said: "Under any scenario, we are with you just like we are with Cuba, If the United States invades Cuba, blood will run ... We will not have our arms crossed while bombs are falling in Havana or they carry Raul off in a plane."
Ahmadinejad told the assembly on Friday that "Cuba's fight for liberation from imperialism has been a source of inspiration for the world's peoples".
Growth of the assembly
The Nonaligned Movement was formed during the Cold War to establish a neutral third path in a world divided by allegiances to the US and the Soviet Union.
It now counts 118 members with the addition of Haiti and St Kitts this week.
Chavez has been outspoken in advance of next week's UN general assembly session in New York, where nations will debate Iran's nuclear ambitions and Venezuela's campaign for a Security Council seat.
But Raul Castro also spoke forcefully, urging the gathered developing nations to unite against unacceptable acts of aggression.
Raul Castro said: "With regard to international relations, we are not the decisive force that we could be. Nonaligned Movement now has to wage courageous battles against unilateralism, double standards, and the impunity granted to those in power, for a fairer and more equal international order."
For his part, Kofi Annan, the UN secretary-general, said the world has changed dramatically since Cuba last hosted the movement in Havana 27 years ago, and that developing nations have new responsibilities and opportunities to promote democracy, protect human rights and develop a civil society.
"The collective mission of this movement is more relevant than ever," he said.
The US declined an invitation to attend, and said it would have no comment on the proceedings.
*****
â14th Non-Aligned Movement Summit opens in Havanaâ
Peopleâs Daily â China
September 16, 2006
Raul Castro, Cuba's first vice- president and defense minister, officially announced the opening of the 14th Non-Aligned Movement Summit of heads of state or government in Havana on Friday.
Representatives from over 100 countries, including 68 heads of state or government, attended the summit at the Conference Palace.
The summit is expected to discuss and come up with a declaration on NAM's stance regarding contentious world issues, among others, Israeli aggressions against Palestine and Lebanon, the reform of the United Nations, the re-establishment of multilateralism, NAM's central role in world affairs, South-South cooperation, anti-poverty, protectionism and foreign debt.
Cuban leader Fidel Castro temporarily handed over his power to Raul Castro because of illness.
Abelardo Moreno, Cuban deputy foreign minister and spokesman for the summit, told a press briefing that four draft documents will be submitted for approval to the heads of state or government when they convene on Friday and Saturday.
That documents will ratify the role of the Non-Aligned Movement as a forum of political coordination of underdeveloped nations to promote and defend their common rights and in favor of unity, solidarity and cooperation among member nations.
Moreno said that a document on the operational methods of the Non-Aligned Movement had been agreed upon. He said it takes on new aspects such as moving to set up a support office to the NAM presidency in New York.
Cuba will take over the leadership of the NAM from Malaysia. Cuba is the venue of this forum for the second time, and assuming its presidency for the next three years, meaning it accepts the huge challenge of defending the groups's positions, Moreno said.
The heads of state and government started their talks on Friday, after four days of preparatory meetings. Haiti and St Kitts and Nevis were set to be formally accepted into the movement, swelling its ranks to 118.
A Chinese government delegation led by Vice Foreign Minister Yang Jiechi attended the summit as an observer. China became an observer to the NAM in 1992.
Source: Xinhua
**********
âRaul Castro: G-15 Is Pivotalâ
PL â September 15, 2006
Havana, (PL) Cuba´s First Vice President Raul Castro highlighted the role of the Group of 15 as a catalyst in increasing cooperation among nations of the Southern Hemisphere, when speaking at the opening of the G-15 Summit in Havana Thursday.
The vice president told the group of 17 top officials of developing countries, meeting in parallel with the 14th Non-Aligned Movement Summit, that it is at a point where it can strengthen its role to confront the growing challenges of globalization and development.
Cuba appreciates the special attention the G-15 offers in matters of trade, development, finances and cooperation and ultimately, the interests of G-15 are those of the developing world, he affirmed.
G-15, created by NAM, is the medium with which to increase South-South cooperation and make possible greater cohesion and solidarity among developing nations to bring about a more fluid and positive North-South dialogue, Raul Castro added.
Our countries have no alternative than to unite and concentrate our actions on confronting the common obstacles we face, he said.
The Group of 15 is now composed of 17 members: Algeria, Argentina, Brazil, Colombia, Chile, Egypt, Jamaica, India, Indonesia, Iran, Kenya, Malaysia, Mwxico, Nigeria, Peru, Senegal, Sri Lanka, Zimbabwe and Venezuela.
.
.
September 17, 2006
SouthAmerica: 68 heads of state were in attendance among the representatives of 118 countries that participated on that summit in Cuba.
From South America only Argentina, Brazil, Paraguay, and Uruguay are not members of NAM.
2006 Non-Aligned Movement Summit in Cuba
(NAM) LIST OF CURRENT MEMBERS:
1 - Afghanistan
2 - Algeria
3 - Angola
4 - Antigua & Barbuda
5 - Bahamas
6 - Bahrain
7 - Bangladesh
8 - Barbados
9 - Belarus
10 - Belize
11 - Benin
12 - Bhutan
13 - Bolivia
14 - Botswana
15 - Brunei Darussalam
16 - Burkina Faso
17 - Burundi
18 - Cambodia
19 - Cameroon
20 - Cape Verde
21 - Central African Republic
22 - Chad
23 - Chile
24 - Colombia
25 - Comoros
26 - Congo
27 - Cote d'ivoire
28 - Cuba
29 - Democratic People's Republic Of Korea
30 - Democratic Republic Of Congo
31 - Dominican Republic
32 - Dominica
33 - Djibouti
34 - Ecuador
35 - Egypt
36 - Equatorial Guinea
37 - Eritrea
38 - Ethiopia
39 - Gabon
40 - Gambia
41 - Ghana
42 - Grenada
43 - Guatemala
44 - Guinea
45 - Guinea-Bissau
46 - Guyana
47 - Honduras
48 - India
49 - Indonesia
50 - Iran, Islamic Rep Of
51 - Iraq
52 - Jamaica
53 - Jordan
54 - Kenya
55 - Kuwait
56 - Lao People DR
57 - Lebanon
58 - Lesotho
59 - Liberia
60 - Libyan Arab Jamahirya
61 - Madagascar
62 - Malawi
63 - Malaysia
64 - Maldives
65 - Mali
66 - Mauritania
67 - Mauritius
68 - Mongolia
69 - Morocco
70 - Mozambique
71 - Myanmar
72 - Namibia
73 - Nepal
74 - Nicaragua
75 - Niger
76 - Nigeria
77 - Oman
78 - Pakistan
79 - Palestine
80 - Panama
81 - Papua New Guinea
82 - Peru
83 - Philippines
84 - Qatar
85 - Rwanda
86 - Saint Lucia
87 - Saint Vincent and the Grenadines
88 - Sao Tome and Principe
89 - Saudi Arabia
90 - Senegal
91 - Seychelles
92 - Sierra Leone
93 - Singapore
94 - Somalia
95 - South Africa
96 - Sri Lanka
97 - Sudan
98 - Suriname
99 - Swaziland
100 - Syrian Arab Republic
101 - Thailand
102 - Timor Leste
103 - Togo
104 - Trinidad and Tobago
105 - Tunisia
106 - Turkmenistan
107 - Uganda
108 - United Arab Emirates
109 - United Republic Of Tanzania
110 - Uzbekistan
111 - Vanuatu
112 - Venezuela
113 - Vietnam
114 - Yemen
115 - Zambia
116 - Zimbabwe
Note: These are the new members - It now counts 118 members with the addition of Haiti and St Kitts this week.
.
September 17, 2006
SouthAmerica: 68 heads of state were in attendance among the representatives of 118 countries that participated on that summit in Cuba.
From South America only Argentina, Brazil, Paraguay, and Uruguay are not members of NAM.
2006 Non-Aligned Movement Summit in Cuba
(NAM) LIST OF CURRENT MEMBERS:
1 - Afghanistan
2 - Algeria
3 - Angola
4 - Antigua & Barbuda
5 - Bahamas
6 - Bahrain
7 - Bangladesh
8 - Barbados
9 - Belarus
10 - Belize
11 - Benin
12 - Bhutan
13 - Bolivia
14 - Botswana
15 - Brunei Darussalam
16 - Burkina Faso
17 - Burundi
18 - Cambodia
19 - Cameroon
20 - Cape Verde
21 - Central African Republic
22 - Chad
23 - Chile
24 - Colombia
25 - Comoros
26 - Congo
27 - Cote d'ivoire
28 - Cuba
29 - Democratic People's Republic Of Korea
30 - Democratic Republic Of Congo
31 - Dominican Republic
32 - Dominica
33 - Djibouti
34 - Ecuador
35 - Egypt
36 - Equatorial Guinea
37 - Eritrea
38 - Ethiopia
39 - Gabon
40 - Gambia
41 - Ghana
42 - Grenada
43 - Guatemala
44 - Guinea
45 - Guinea-Bissau
46 - Guyana
47 - Honduras
48 - India
49 - Indonesia
50 - Iran, Islamic Rep Of
51 - Iraq
52 - Jamaica
53 - Jordan
54 - Kenya
55 - Kuwait
56 - Lao People DR
57 - Lebanon
58 - Lesotho
59 - Liberia
60 - Libyan Arab Jamahirya
61 - Madagascar
62 - Malawi
63 - Malaysia
64 - Maldives
65 - Mali
66 - Mauritania
67 - Mauritius
68 - Mongolia
69 - Morocco
70 - Mozambique
71 - Myanmar
72 - Namibia
73 - Nepal
74 - Nicaragua
75 - Niger
76 - Nigeria
77 - Oman
78 - Pakistan
79 - Palestine
80 - Panama
81 - Papua New Guinea
82 - Peru
83 - Philippines
84 - Qatar
85 - Rwanda
86 - Saint Lucia
87 - Saint Vincent and the Grenadines
88 - Sao Tome and Principe
89 - Saudi Arabia
90 - Senegal
91 - Seychelles
92 - Sierra Leone
93 - Singapore
94 - Somalia
95 - South Africa
96 - Sri Lanka
97 - Sudan
98 - Suriname
99 - Swaziland
100 - Syrian Arab Republic
101 - Thailand
102 - Timor Leste
103 - Togo
104 - Trinidad and Tobago
105 - Tunisia
106 - Turkmenistan
107 - Uganda
108 - United Arab Emirates
109 - United Republic Of Tanzania
110 - Uzbekistan
111 - Vanuatu
112 - Venezuela
113 - Vietnam
114 - Yemen
115 - Zambia
116 - Zimbabwe
Note: These are the new members - It now counts 118 members with the addition of Haiti and St Kitts this week.
.
What must also must be taken into account is the untold hurrendous financial damage done to the poorer non oil producing countries by the Bush administration...
There is no question that a large percentage of the decision to start the Iraq War was because of oil...
It is ever so obvious that a war intiated in the Middle East would cause more uncertainty and thus much higher oil prices...The Bush Cheney fiasco team are very sophisticated in regards to the oil industry and have both corporate and political deep family ties to oil company supporters...
There was absolutely no mention in any form whatsoever what their war policies would mean economically to the US or to other countries regarding oil prices...
Because of their level of sophistication..to mention nothing to the American public is very telling...
And needless to say have had a tremendous negative financial impact on the poorer non oil producing Latin countries...
This has enabled the likes of Chavez to gain politically in that he has offered cheaper oil while US policies reap further havoc on oil prices and their fragile economies...
Oil prices and oil company stocks have risen several fold during their supposed tenure of the US and there has still been no effective energy policy rendered...and no apologies to the poorer non oil producing countries whereby the economic impacts have been worse than many Katrinas....and still no mention of the negative effects of their policies on the US which were known ahead of time...
The world will be a much better place when the US replaces the horrendous Bush Cheney fiasco...However they have accomplished their mission...Their oil cronies have been made many times over....
The words needed to describe these type of individuals are not allowed in this forum...
There is no question that a large percentage of the decision to start the Iraq War was because of oil...
It is ever so obvious that a war intiated in the Middle East would cause more uncertainty and thus much higher oil prices...The Bush Cheney fiasco team are very sophisticated in regards to the oil industry and have both corporate and political deep family ties to oil company supporters...
There was absolutely no mention in any form whatsoever what their war policies would mean economically to the US or to other countries regarding oil prices...
Because of their level of sophistication..to mention nothing to the American public is very telling...
And needless to say have had a tremendous negative financial impact on the poorer non oil producing Latin countries...
This has enabled the likes of Chavez to gain politically in that he has offered cheaper oil while US policies reap further havoc on oil prices and their fragile economies...
Oil prices and oil company stocks have risen several fold during their supposed tenure of the US and there has still been no effective energy policy rendered...and no apologies to the poorer non oil producing countries whereby the economic impacts have been worse than many Katrinas....and still no mention of the negative effects of their policies on the US which were known ahead of time...
The world will be a much better place when the US replaces the horrendous Bush Cheney fiasco...However they have accomplished their mission...Their oil cronies have been made many times over....
The words needed to describe these type of individuals are not allowed in this forum...
.
June 27, 2007
SouthAmerica: Here is another example of declining United States influence in South America.
This is another example of complete incompetence of the Bush administration regarding its foreign policies since January of 2001.
The irony of what is happening here is that the United States went to war against Iraq to secure a new source of oil â and at the same time this Bush crew canât even keep secured the supply of oil right on its backyard.
The Bush administration has achieved such a high level of incompetence since 2001 that it reached a point that it does qualify itself as the administration of a âBanana Republic.â
************
Business Week
June 26, 2007, 8:52PM EST
âTwo Oil Giants Exit Venezuelaâ -
In response to Chávez' demands for equity, ExxonMobil and ConocoPhillips opt to walk away from what may be the world's largest potential oil reserves
By Peter Wilson and Geri Smith
Venezuelan President Hugo Chávez got what he wanted on June 26âhe forced six global oil giants to hand equity stakes of 60% or more in four key heavy-oil ventures to state oil company Petróleos de Venezuela (PDVSA). Four companies, Chevron (CVX), BP (BP), France's Total, and Norway's Statoil (STO), signed agreements with Energy & Oil Minister Rafael RamÃrez in a televised ceremony.
"This is an act of sovereignty for our country, for our people," RamÃrez declared, standing under a poster of Chávez emblazoned with the motto "Fatherland, Socialism or Death." But two big players, ExxonMobil (XOM) and ConocoPhillips (COP), decided they have had enough and are retreating from the South American countryâa move likely to hit Venezuela's oil output.
Boomerang Potential
Chávez' face-off with Big Oil is the latest example of a trend that has been growing stronger with every month of high oil prices. Around the globe, emerging oil producers are demanding more from global oil giants, many of which struck their exploration and production deals years ago at a time of low-priced crude.
Russia has pushed BP and Royal Dutch Shell (RDSB) to accept less favorable terms on mega-projects in Siberia and the Far East, and is also leaning on ExxonMobil. Much of the Persian Gulf region, which has the world's largest troves of oil, is off limits to outside investment in exploration and production. While companies are pouring money into Angola and Libya, which only recently began opening up after decades of isolation, the oil giants' efforts are stymied in many other markets. That's why there is real concern that the industry is not finding enough new investment opportunities to create the supply needed to compensate for natural declines in aging fields.
Venezuela's assault on the oil companies could boomerang. ExxonMobil's and ConocoPhillip's departure from the country comes as Caracas is hoping to attract more than $21 billion in investment from foreign oil companies. The goal: to boost daily oil output to 5.2 million barrels per day by 2012, up from its current 2.4 million.
Venezuela, currently OPEC's fourth-largest producer, plans to spend $77 billion overall in the next five years. But with the shakeup in the industry, many analysts doubt Chávez will achieve his goals. "Doubling production now isn't doable for Chávez," says James Williams, who oversees Arkansas-based oil consultancy WTRG Economics. "Oil companies will be thinking twice about investing."
Orinoco Oil Flow
Other analysts agree. "Oil companies know that Venezuela has the resources in the ground, and they also know that they face limited opportunities elsewhere," says Pietro Pitts, an analyst with Caracas-based oil publication Latin Petroleum. "Still, they are leaving, as they have no certainty as to what is going to happen to their operations. This sends a really bad signal."
For now, that's not worrying Venezuela's Oil Minister. RamÃrez says PDVSA and the remaining global oil companies will continue to develop the four heavy-oil ventures in the resource-rich Orinoco Basin. The projects take extra-heavy crude, which has the consistency of tar, and refine it to higher, more profitable blends for export. The government estimates that the basin, near the Orinoco River, is believed to hold up to 235 billion barrels of crude.
PDVSA has hired international firms to assess the reserves, which if confirmed, would make Venezuela the country with the world's largest potential oil reserves, above Saudi Arabia.
Venezuela has been counting on developing the Orinoco Belt to boost its overall oil output. Oil production has declined 25% since Chávez took office in 1999, in large part because he fired more than 20,000 experienced PDVSA engineers and executives after they joined a 2002-03 strike protesting government interference in the oil company's operations and demanded Chávez' removal from office.
Uncertainty Ahead
But the government could face a protracted legal battle over ExxonMobil and ConocoPhillips, as the two companies seek to recoup their investments, which total more than $3.5 billion. ExxonMobil, in a statement released in Caracas, said it is "disappointed that we have been unable to reach an agreement on the terms for migration to a mixed enterprise structure." The company added that discussions with the government "on a way forward" are continuing. The company, though, has no other remaining operations in the country: ExxonMobil sold its 49 branded gas stations in Venezuela in mid-June.
The only operation that ConocoPhillips will retain in Venezuela is a minority interest in a venture developing an off-shore natural gas field.
Talks for compensation for the two companies could last up to six months. The parties must go to international arbitration if no accord is reached. That could pave the way for the U.S. companies to seek permission to attach PDVSA assets in the U.S., such as refineries of its subsidiary, Citgo Petroleum, pending a final agreement.
"One of the reasons to pull out now is to have the option to go after Venezuelan assets in the U.S. now before Chávez can sell them," says WTRG Economics analyst Williams.
Chávez has repeatedly said he could sell Citgo or cut off oil sales to the U.S., which gets 14% of its oil imports from Venezuela.
Terms of the deals the other companies signed with Caracas have not been revealed. "Negotiations have been tough as expected, but have been conducted in a professional and fair manner with satisfactory results for both parties," said Thore Kristiansen, president of Statoil Venezuela, in a statement.
Wilson is a special correspondent based in Caracas. Smith is BusinessWeek's Mexico bureau chief.
.
June 27, 2007
SouthAmerica: Here is another example of declining United States influence in South America.
This is another example of complete incompetence of the Bush administration regarding its foreign policies since January of 2001.
The irony of what is happening here is that the United States went to war against Iraq to secure a new source of oil â and at the same time this Bush crew canât even keep secured the supply of oil right on its backyard.
The Bush administration has achieved such a high level of incompetence since 2001 that it reached a point that it does qualify itself as the administration of a âBanana Republic.â
************
Business Week
June 26, 2007, 8:52PM EST
âTwo Oil Giants Exit Venezuelaâ -
In response to Chávez' demands for equity, ExxonMobil and ConocoPhillips opt to walk away from what may be the world's largest potential oil reserves
By Peter Wilson and Geri Smith
Venezuelan President Hugo Chávez got what he wanted on June 26âhe forced six global oil giants to hand equity stakes of 60% or more in four key heavy-oil ventures to state oil company Petróleos de Venezuela (PDVSA). Four companies, Chevron (CVX), BP (BP), France's Total, and Norway's Statoil (STO), signed agreements with Energy & Oil Minister Rafael RamÃrez in a televised ceremony.
"This is an act of sovereignty for our country, for our people," RamÃrez declared, standing under a poster of Chávez emblazoned with the motto "Fatherland, Socialism or Death." But two big players, ExxonMobil (XOM) and ConocoPhillips (COP), decided they have had enough and are retreating from the South American countryâa move likely to hit Venezuela's oil output.
Boomerang Potential
Chávez' face-off with Big Oil is the latest example of a trend that has been growing stronger with every month of high oil prices. Around the globe, emerging oil producers are demanding more from global oil giants, many of which struck their exploration and production deals years ago at a time of low-priced crude.
Russia has pushed BP and Royal Dutch Shell (RDSB) to accept less favorable terms on mega-projects in Siberia and the Far East, and is also leaning on ExxonMobil. Much of the Persian Gulf region, which has the world's largest troves of oil, is off limits to outside investment in exploration and production. While companies are pouring money into Angola and Libya, which only recently began opening up after decades of isolation, the oil giants' efforts are stymied in many other markets. That's why there is real concern that the industry is not finding enough new investment opportunities to create the supply needed to compensate for natural declines in aging fields.
Venezuela's assault on the oil companies could boomerang. ExxonMobil's and ConocoPhillip's departure from the country comes as Caracas is hoping to attract more than $21 billion in investment from foreign oil companies. The goal: to boost daily oil output to 5.2 million barrels per day by 2012, up from its current 2.4 million.
Venezuela, currently OPEC's fourth-largest producer, plans to spend $77 billion overall in the next five years. But with the shakeup in the industry, many analysts doubt Chávez will achieve his goals. "Doubling production now isn't doable for Chávez," says James Williams, who oversees Arkansas-based oil consultancy WTRG Economics. "Oil companies will be thinking twice about investing."
Orinoco Oil Flow
Other analysts agree. "Oil companies know that Venezuela has the resources in the ground, and they also know that they face limited opportunities elsewhere," says Pietro Pitts, an analyst with Caracas-based oil publication Latin Petroleum. "Still, they are leaving, as they have no certainty as to what is going to happen to their operations. This sends a really bad signal."
For now, that's not worrying Venezuela's Oil Minister. RamÃrez says PDVSA and the remaining global oil companies will continue to develop the four heavy-oil ventures in the resource-rich Orinoco Basin. The projects take extra-heavy crude, which has the consistency of tar, and refine it to higher, more profitable blends for export. The government estimates that the basin, near the Orinoco River, is believed to hold up to 235 billion barrels of crude.
PDVSA has hired international firms to assess the reserves, which if confirmed, would make Venezuela the country with the world's largest potential oil reserves, above Saudi Arabia.
Venezuela has been counting on developing the Orinoco Belt to boost its overall oil output. Oil production has declined 25% since Chávez took office in 1999, in large part because he fired more than 20,000 experienced PDVSA engineers and executives after they joined a 2002-03 strike protesting government interference in the oil company's operations and demanded Chávez' removal from office.
Uncertainty Ahead
But the government could face a protracted legal battle over ExxonMobil and ConocoPhillips, as the two companies seek to recoup their investments, which total more than $3.5 billion. ExxonMobil, in a statement released in Caracas, said it is "disappointed that we have been unable to reach an agreement on the terms for migration to a mixed enterprise structure." The company added that discussions with the government "on a way forward" are continuing. The company, though, has no other remaining operations in the country: ExxonMobil sold its 49 branded gas stations in Venezuela in mid-June.
The only operation that ConocoPhillips will retain in Venezuela is a minority interest in a venture developing an off-shore natural gas field.
Talks for compensation for the two companies could last up to six months. The parties must go to international arbitration if no accord is reached. That could pave the way for the U.S. companies to seek permission to attach PDVSA assets in the U.S., such as refineries of its subsidiary, Citgo Petroleum, pending a final agreement.
"One of the reasons to pull out now is to have the option to go after Venezuelan assets in the U.S. now before Chávez can sell them," says WTRG Economics analyst Williams.
Chávez has repeatedly said he could sell Citgo or cut off oil sales to the U.S., which gets 14% of its oil imports from Venezuela.
Terms of the deals the other companies signed with Caracas have not been revealed. "Negotiations have been tough as expected, but have been conducted in a professional and fair manner with satisfactory results for both parties," said Thore Kristiansen, president of Statoil Venezuela, in a statement.
Wilson is a special correspondent based in Caracas. Smith is BusinessWeek's Mexico bureau chief.
.
.
June 27, 2007
SouthAmerica: Here is what The New York Times had to say about the same subject.
****
â2 Oil Firms Are Defiant in Venezuelaâ
By SIMON ROMERO and CLIFFORD KRAUSS
Published: June 27, 2007
The New York Times
HOUSTON, June 26 â ConocoPhillips and Exxon Mobil refused on Tuesday to meet Venezuelaâs deadline to reach an agreement on ceding control of their major oil production ventures, in what could be their imminent separation from billions of dollars in investments.
The possible rupture with the two companies was viewed by oil analysts as a sign that President Hugo Chávez was pressing ahead with efforts to assert greater authority over some of the most coveted oil reserves in the Western Hemisphere. It came after months of negotiations in which several of the worldâs largest private oil companies tried to salvage some kind of minority ownership role in Venezuela, one of the largest sources of oil for the United States.
The possible exit of two major American oil companies from Venezuela may not have an immediate impact on American energy supplies, but any increase in oil prices that does result will only help Mr. Chávez finance his broadening government social policies.
A possible vacuum in expertise could eventually be filled by Chinese, Iranian or other state oil companies. In any case, most energy experts believe that the Venezuelan state oil company will be hard pressed to sustain production levels without American expertise.
Rafael RamÃrez, the Venezuelan energy minister, made the announcement in Caracas. He concluded that the companies had not met the governmentâs deadline to agree to terms under which the government oil company would take majority control over Conocoâs investments of about $3.5 billion and Exxonâs investments, valued at $800 million.
Venezuelan officials said that some foreign companies, including Chevron, BP, Total and Statoil, had agreed to cede controlling stakes in their oil ventures to Petróleos de Venezuela, the countryâs government-owned energy concern. The projects included in the talks are in the Orinoco Belt, an area south of Caracas that is one of the most valued deposits of heavy oil. "The partners who signed are betting on a secure future in our fatherland,â Mr. RamÃrez told reporters.
Still, these companiesâ acceptance of the new rules in Venezuela and the potential exit of Conoco and Exxon point to concern that developments in Venezuela may influence negotiations over oil and natural gas projects in other countries, from rising African oil producers like Angola to longtime members of the Organization of the Petroleum Exporting Countries like Iran.
âWhat happens in Venezuela is something the Russians will look at, and may have bearing on places like Iran, Nigeria and other countries,â said Amy Myers Jaffe, an oil analyst at the James A. Baker III Institute for Public Policy of Rice University.
Oil is at the heart of a broader nationalization push that also includes large telecommunications and electricity companies. Mr. Chávez is trying to give his government a stronger hand in Venezuelaâs economy even as the oil industry, by far the countryâs largest source of revenue, struggles to maintain anemic production levels.
Michael J. Economides, an oil consultant in Houston, said Venezuela could benefit in the short term if fears over production translate into higher global oil prices. âIf he produces 1 percent less,â Mr. Economides said in reference to Mr. Chávez, âthe world market responds to that and he gets 20 percent more revenue over a period of time.â
Industry analysts put Venezuelaâs output at about 2.3 million barrels a days, including more than 400,000 barrels a day from the heavy oil projects. Venezuelaâs government says overall production is closer to 3.2 million barrels a day.
But with public spending surging under Mr. Chávez and with oil companies from Brazil, China and India hesitant to make major investments in Venezuela while legal uncertainty persists, energy analysts have cautioned that Venezuelaâs government risks allowing prized reserves to remain underdeveloped.
âThe Venezuelans have increased the cost of developing this resource,â said Roger Tissot, director for Latin America at PFC Energy, a consulting firm, in Washington. âAt the end of the day, the Venezuelan people will pay the price for these decisions.â
Michael S. Goldberg, head of the international dispute resolution group at Baker Botts, a law firm here that represents major oil companies internationally, said he did not think Tuesdayâs actions were ânecessarily the end of the story.â He added, âThe prospects of a deal are never over until a sale is made or an arbitrator reaches a decision.â
The investments at stake are large by any measure, with values ranging from $2.5 billion to $4.5 billion for Conoco if Venezuela takes ownership of its heavy oil projects. Exxon stands to lose about $800 million. More than $6 billion may be lost by other private companies, depending on how they are compensated.
âAlthough the company is hopeful that the negotiations will be successful, it has preserved all legal rights, including international arbitration,â Conoco said.
Exxon also expressed hope that an agreement could be reached that would permit it to continue operating in an ownership role.
âExxon Mobil is disappointed that we have been unable to reach an agreement on the terms for migration to a mixed enterprise structure,â the company said. âHowever, we continue discussions with the Venezuelan government on a way forward.â
Should the American companies leave, some of the other multinational companies that remain could eventually take their place. The Venezuelan government has been talking to government-controlled companies from China and other countries about creating new ventures to extract and refine Venezuelan oil.
âVenezuela is now free to find other partners,â said Mazhar al-Shereidah, a petroleum economist in Caracas. âI donât think Petróleos de Venezuela can cover all the technical and financial demands of these ventures, but this doesnât constitute a dramatic situation.â
Conocoâs shares fell 2.9 percent on Tuesday to $75.80 as investors reacted to the announcements from Caracas. Exxon, which relies less on Venezuela as a portion of its overall output, fell 0.7 percent to $81.82.
.
June 27, 2007
SouthAmerica: Here is what The New York Times had to say about the same subject.
****
â2 Oil Firms Are Defiant in Venezuelaâ
By SIMON ROMERO and CLIFFORD KRAUSS
Published: June 27, 2007
The New York Times
HOUSTON, June 26 â ConocoPhillips and Exxon Mobil refused on Tuesday to meet Venezuelaâs deadline to reach an agreement on ceding control of their major oil production ventures, in what could be their imminent separation from billions of dollars in investments.
The possible rupture with the two companies was viewed by oil analysts as a sign that President Hugo Chávez was pressing ahead with efforts to assert greater authority over some of the most coveted oil reserves in the Western Hemisphere. It came after months of negotiations in which several of the worldâs largest private oil companies tried to salvage some kind of minority ownership role in Venezuela, one of the largest sources of oil for the United States.
The possible exit of two major American oil companies from Venezuela may not have an immediate impact on American energy supplies, but any increase in oil prices that does result will only help Mr. Chávez finance his broadening government social policies.
A possible vacuum in expertise could eventually be filled by Chinese, Iranian or other state oil companies. In any case, most energy experts believe that the Venezuelan state oil company will be hard pressed to sustain production levels without American expertise.
Rafael RamÃrez, the Venezuelan energy minister, made the announcement in Caracas. He concluded that the companies had not met the governmentâs deadline to agree to terms under which the government oil company would take majority control over Conocoâs investments of about $3.5 billion and Exxonâs investments, valued at $800 million.
Venezuelan officials said that some foreign companies, including Chevron, BP, Total and Statoil, had agreed to cede controlling stakes in their oil ventures to Petróleos de Venezuela, the countryâs government-owned energy concern. The projects included in the talks are in the Orinoco Belt, an area south of Caracas that is one of the most valued deposits of heavy oil. "The partners who signed are betting on a secure future in our fatherland,â Mr. RamÃrez told reporters.
Still, these companiesâ acceptance of the new rules in Venezuela and the potential exit of Conoco and Exxon point to concern that developments in Venezuela may influence negotiations over oil and natural gas projects in other countries, from rising African oil producers like Angola to longtime members of the Organization of the Petroleum Exporting Countries like Iran.
âWhat happens in Venezuela is something the Russians will look at, and may have bearing on places like Iran, Nigeria and other countries,â said Amy Myers Jaffe, an oil analyst at the James A. Baker III Institute for Public Policy of Rice University.
Oil is at the heart of a broader nationalization push that also includes large telecommunications and electricity companies. Mr. Chávez is trying to give his government a stronger hand in Venezuelaâs economy even as the oil industry, by far the countryâs largest source of revenue, struggles to maintain anemic production levels.
Michael J. Economides, an oil consultant in Houston, said Venezuela could benefit in the short term if fears over production translate into higher global oil prices. âIf he produces 1 percent less,â Mr. Economides said in reference to Mr. Chávez, âthe world market responds to that and he gets 20 percent more revenue over a period of time.â
Industry analysts put Venezuelaâs output at about 2.3 million barrels a days, including more than 400,000 barrels a day from the heavy oil projects. Venezuelaâs government says overall production is closer to 3.2 million barrels a day.
But with public spending surging under Mr. Chávez and with oil companies from Brazil, China and India hesitant to make major investments in Venezuela while legal uncertainty persists, energy analysts have cautioned that Venezuelaâs government risks allowing prized reserves to remain underdeveloped.
âThe Venezuelans have increased the cost of developing this resource,â said Roger Tissot, director for Latin America at PFC Energy, a consulting firm, in Washington. âAt the end of the day, the Venezuelan people will pay the price for these decisions.â
Michael S. Goldberg, head of the international dispute resolution group at Baker Botts, a law firm here that represents major oil companies internationally, said he did not think Tuesdayâs actions were ânecessarily the end of the story.â He added, âThe prospects of a deal are never over until a sale is made or an arbitrator reaches a decision.â
The investments at stake are large by any measure, with values ranging from $2.5 billion to $4.5 billion for Conoco if Venezuela takes ownership of its heavy oil projects. Exxon stands to lose about $800 million. More than $6 billion may be lost by other private companies, depending on how they are compensated.
âAlthough the company is hopeful that the negotiations will be successful, it has preserved all legal rights, including international arbitration,â Conoco said.
Exxon also expressed hope that an agreement could be reached that would permit it to continue operating in an ownership role.
âExxon Mobil is disappointed that we have been unable to reach an agreement on the terms for migration to a mixed enterprise structure,â the company said. âHowever, we continue discussions with the Venezuelan government on a way forward.â
Should the American companies leave, some of the other multinational companies that remain could eventually take their place. The Venezuelan government has been talking to government-controlled companies from China and other countries about creating new ventures to extract and refine Venezuelan oil.
âVenezuela is now free to find other partners,â said Mazhar al-Shereidah, a petroleum economist in Caracas. âI donât think Petróleos de Venezuela can cover all the technical and financial demands of these ventures, but this doesnât constitute a dramatic situation.â
Conocoâs shares fell 2.9 percent on Tuesday to $75.80 as investors reacted to the announcements from Caracas. Exxon, which relies less on Venezuela as a portion of its overall output, fell 0.7 percent to $81.82.
.
.
June 28, 2007
SouthAmerica: Here is another story that documents another mess that resulted from âcomplete incompetenceâ of the Bush administration regarding US foreign policy since January 2001.
***********
âVenezuelan President Chavez in Russia for Possible Weapons Dealâ
By Peter Fedynsky - Moscow
Voice of America News (VOA) - 28 June 2007
Venezuelan President Hugo Chavez is in Moscow for discussions with Russian President Vladimir Putin about a possible arms deal and expanded economic ties between the two countries. VOA Correspondent Peter Fedynsky reports from the Russian capital.
President Chavez is expected to meet with his Russian counterpart Thursday evening in the Kremlin. Speaking during the day at the opening of a Latin American cultural center in Moscow, the Venezuelan leader said he does not rule out the development of nuclear energy in his country. In a swipe at the United States, Mr. Chavez also said American troops should leave Iraq, and that Iran has a right to nuclear technology.
Mr. Chavez says that Iran has the right to a peaceful atomic energy industry, because it is a sovereign state.
His Moscow agenda includes the possible purchase of Russian diesel-electric submarines, armed with missiles. Mr. Chavez is also interested in buying the Russian TOR-1 missile defense system.
Last year, Mr. Chavez signed a deal with the Kremlin to purchase $3 billion worth of weapons, including helicopters, fighter planes and small arms. But Mr. Chavez said weapons are not the aim of his visit.
He says his priorities are culture, ideas and cooperation in energy as well as the military.
The two countries, both major exporters of energy, are discussing expanded commerce. Russian state television says bilateral trade, last year, amounted to only $90 million.
On Saturday, the Venezuelan leader will be President Putin's guest at a horse race in the southern city of Rostov-on-Don. However, despite signs of closer relations, Russian lawmakers voted against allowing Mr. Chavez to address them in a full session of the country's lower house of Parliament. The move is interpreted here as a way to avoid further aggravating the already chilly Russian relationship with the United States.
The U.S. administration considers the Venezuelan leader a destabilizing voice in Latin America. Washington is also concerned about his international arms purchases.
Mr. Chavez has plans for more weapons deals with neighboring Belarus, where he flies after his visit to Russia. He then continues to Iran.
The Venezuelan's visit to Russia comes on the eve of President Putin's visit this weekend with President Bush at the Bush family home in Kennebunkport, Maine. The two leaders are expected to discuss ways of overcoming the recent chill in relations.
Source: http://voanews.com/english/2007-06-28-voa37.cfm
.
June 28, 2007
SouthAmerica: Here is another story that documents another mess that resulted from âcomplete incompetenceâ of the Bush administration regarding US foreign policy since January 2001.
***********
âVenezuelan President Chavez in Russia for Possible Weapons Dealâ
By Peter Fedynsky - Moscow
Voice of America News (VOA) - 28 June 2007
Venezuelan President Hugo Chavez is in Moscow for discussions with Russian President Vladimir Putin about a possible arms deal and expanded economic ties between the two countries. VOA Correspondent Peter Fedynsky reports from the Russian capital.
President Chavez is expected to meet with his Russian counterpart Thursday evening in the Kremlin. Speaking during the day at the opening of a Latin American cultural center in Moscow, the Venezuelan leader said he does not rule out the development of nuclear energy in his country. In a swipe at the United States, Mr. Chavez also said American troops should leave Iraq, and that Iran has a right to nuclear technology.
Mr. Chavez says that Iran has the right to a peaceful atomic energy industry, because it is a sovereign state.
His Moscow agenda includes the possible purchase of Russian diesel-electric submarines, armed with missiles. Mr. Chavez is also interested in buying the Russian TOR-1 missile defense system.
Last year, Mr. Chavez signed a deal with the Kremlin to purchase $3 billion worth of weapons, including helicopters, fighter planes and small arms. But Mr. Chavez said weapons are not the aim of his visit.
He says his priorities are culture, ideas and cooperation in energy as well as the military.
The two countries, both major exporters of energy, are discussing expanded commerce. Russian state television says bilateral trade, last year, amounted to only $90 million.
On Saturday, the Venezuelan leader will be President Putin's guest at a horse race in the southern city of Rostov-on-Don. However, despite signs of closer relations, Russian lawmakers voted against allowing Mr. Chavez to address them in a full session of the country's lower house of Parliament. The move is interpreted here as a way to avoid further aggravating the already chilly Russian relationship with the United States.
The U.S. administration considers the Venezuelan leader a destabilizing voice in Latin America. Washington is also concerned about his international arms purchases.
Mr. Chavez has plans for more weapons deals with neighboring Belarus, where he flies after his visit to Russia. He then continues to Iran.
The Venezuelan's visit to Russia comes on the eve of President Putin's visit this weekend with President Bush at the Bush family home in Kennebunkport, Maine. The two leaders are expected to discuss ways of overcoming the recent chill in relations.
Source: http://voanews.com/english/2007-06-28-voa37.cfm
.