Category Archives: Business/Economics

Business/Economics, International, Opinion, U.S.

While our government has no budget, Obama spending money around the world

The U.S. government continues to pass temporary budgets.  Political leaders have stated “We’re broke”.  State governments continue to enact austerity measures, cutting funding for social programs.  Yet, President Obama is tripping around the world starting fights and making promises of money.

The current attacks on Libya are costing the Unite States hundreds of millions of dollars every day.  It’s expected to cost a billion dollars in one months time.

On his Latin American trip Obama just promised the Central American countries $200 million dollars to fight drugs trafficking.   Obama signed a deal with Brazil that involves $1 billion dollars of financing. From where, us?

Critics say Obama’s promises to Latin America have to be false because we’re broke.

Many people in Latin American countries say they don’t trust what Obama said anyway. They point to the UN approved, and currently U.S. lead,  attacks on Libya as proof that you can’t trust the United States.

Business/Economics, International, Opinion, U.S.

Qatar helping to bomb Libya because of Bribes?

Qatar is the only Arab League country that will take part in the attacks on Libya (so far), even after the Arab League changed their mind on supporting UNSCR 1973.  Is this because of the $1 billion Qatar beggared from U.S. and European companies back in 2008?

Reuters says it’s gotten hold of leaked diplomatic documents (thanks to WikiLeaks), that show U.S. and European companies were shocked when Qatar hit them up for $1 billion to help build a state of the art hospital (gee it’d be nice if U.S. companies would spend that much on health care here in the U.S.).  The shock was due to the fact that Qatar is supposed to be rich, and in fact the Qatar Foundation is funding the hospital to a tune of $7.9 billion, the most for any hospital in the world. Sidra Medical Center is set to open in 2012.

Reuters says each company doing business in Qatar was hit up for anywhere from $80 million to $240 million.  “The IOCs (international oil companies) are shocked and angered by the request. None of the U.S. IOCs are considering donations … and they are aware the perception of a quid pro quo could be construed as violating the Foreign Corrupt Practices Act.”  -leaked document

Reuters says a few companies did not donate. Others say they are still in discussions over the donations (more than 2 years later?), but most, like several oil companies and even Microsoft, are declining comment.  Mmmm, have payments been made, and is Qatar’s involvement with UNSCR 1973 quid pro quo, or just international political ambition?

 

Business/Economics, International, U.S.

Sanctions against Iran are Fake, U.S. Companies did $15 million in sales to Iran in January

According to the U.S. Census Bureau, U.S. corporations sold $15.9 million worth of goods to Iran, in January 2011, despite U.S. sanctions.

Iran is under four rounds of UN Security Council sanctions (pushed by the United States), targeting the country’s energy and banking sectors, including a U.S. boycott of gasoline supplies.

Iranian officials say the sanctions have forced their businesses to become more efficient, and has actually increased their production capabilities.

More proof that our exalted leaders here in the U.S. are idiots (or liars)!

 

Business/Economics, Opinion

Iran sells refined gas to Afghanistan for the first time, nice to see other countries making money off our wars

“We have exported a 1,000-ton cargo of gasoline to Afghanistan this (Iranian year), and we are amidst negotiations to export the second and third cargoes to the country,”-Iranian Deputy Oil Minister Alireza Zeiqami

Ironically, Iran’s refined gas industry has gotten a boost from U.S. and European economic sanctions. So much so that Iran is negotiating new contracts with surrounding countries.

The latest sanctions against Iran forbids companies from selling refined gas to Iran.  As a result Iran increased its own fuel refining, and found out that its neighbors, like Afghanistan, wanted to buy it.

Iranian Oil Minister Massoud Mir-Kazzemi said their fuel refining has increased so much that that Iran no longer needs foreign imports.  So much for sanctions.

By the way, does anyone like the idea that were throwing billions of U.S. dollars down the drain in Afghanistan, while other countries make money off Afghanistan?  Where did Afghanistan get the money to buy the Iranian gas?

Business/Economics, International, U.S.

World high tech economies tied to Japan, “…can’t do high tech without Japan.”

“There are a huge number of little bits of the high-tech food chain which are done nowhere but in Japan. Nobody else has the quality or the consistency, and in some cases the technology to do it.”-Sam Perry, senior investment manager of Pictet Japanese Equity Selection Fund.

Canon Inc has suspended all of its domestic camera production. One of the problems was a lack of gas which was affecting distribution, and stopping employees from getting to work where train services are minimal.

Nikon warned that power cuts, and shortages of parts, will make full production difficult.

Renesas Electronics Corp, the world’s No.5 chipmaker, started operations at one semiconductor plant.  Six of the company’s 22 factories remain closed.

 

Business/Economics, Fukushima

Sony has to shut down more plants, better get your Playstation gear while you can

Sony has announced that it will close 5 more plants, due to a lack of parts.  That brings the number of Sony plants affected by the 9.0 quake/tsunami to 14.

Sony officials say they might be forced to move production away from Japan.

“If the shortage of parts and materials supplied to these plants continues, we will consider necessary measures, including a temporary shift of production overseas.”

Business/Economics, International

Rebels declare themselves the new Government & Oil Company of Libya

What happened to democracy?  The Libyan rebels declared themselves as the new government, with no democratic anything before hand, and several European governments have already recognized the rebels as the true government of Libya.

To top that the rebels, calling themselves The Transitional National Council, have now declared themselves as the new oil officials of Libya.  Already several European countries announced that they will be making oil deals with this “government” of Libya.

Not only that but the rebels have already set up their own central bank to handle oil transaction deals, sure sounds like this “revolution of the people for democracy” is all about oil.

Business/Economics, International, Opinion, U.S.

European leaders Lie, this is about controling Libya’s oil, begining of WW3

Recently the European Union’s ambassador to the U.S. said Europe’s infatuation with the crisis in Libya was not about the oil. Lier!

Some European countries, like Austria, Ireland and Italy, get most of their oil from Libya.  Oil companies from France, Italy and Spain are involved in oil field operations in Libya.

The flow of oil to Europe was greatly reduced thanks to the violence involving so called peaceful protesters in Libya.  After all, why would Gaddafi destroy his main source of income?

Gaddafi has long suspected that the militant, yet somehow, peacefull protesters were supplied by Europe (that has been proven to be correct, Libyan rebels and arms dealers admitted to it).  Feeling betrayed by Europe Gaddafi announced, on March 14, that he was making new oil deals with China, India and Russia (and possibly Germany). Notice that those are the countries that abstained from voting on UNSCR 1973.

Then, just three days later, on March 17, the UN passes UNSCR 1973.  Wow, that was fast!

China and India have evacuated thousand of workers from Libya.

The Europeans have been losing out to the Chinese for several years now. In 2007 Libya hired Chinese companies to build an oil pipeline.  In 2009 the Europeans scared off the Chinese from making a huge oil deal with Libya.  Then in 2010 Libya announced a deal that would see 6 million barrels per month going to China.  In February 2011, China began evacuating some 20,000-30,000 oil field workers after they were attacked by peaceful protesters!  A Chinese Foreign Ministry spokesman said that some Chinese companies “…had their local camp sites raided by gangsters….”

There is eveidence that many people in eastern Libya resented the Chinese oil workers, and actually viewed it as an invasion. Is it possible that European interests took advantage of the growing anti-asian sentiments?

It is clear by statements from Chinese oil workers that they were specifically targeted.  “Chinese companies in Libya are in a state of emergency, our projects are being raided and communications are down.” -online posting

When you look at the who’s who of those involved in Libyan oil production, and who wants Libya’s oil, it starts to look like this is a battle between East and West; Europe vs China.  Could this be the shot that starts World War 3?

Business/Economics, International, U.S.

Get ready for Oil prices to Jump, Economist say it could destroy Economy

Already, oil trading in Europe has seen oil prices jump $2.00 per barrel since Friday.

It is due to the attacks on Libya.

In a CNNMoney survey  16 out 23 leading economists say rising oil prices are the number one threat to any economic recovery.

Interestingly The Federal Reserve showed little concern over rising oil/fuel prices during its March 15 meeting.