Category Archives: Business/Economics

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.

Business/Economics, International, U.S.

Another example of being ripped off by Insurance Companies

The 9.0 quake that struck Japan could very easily cost more than $100 billion in damages. Don’t expect that insurance policy to cover it.

Insurance companies might cover as little as $12 billion of losses.

Eqecat, a catastrophe-modeling firm, estimated that the quake may trigger only $12 billion to $25 billion of insured losses.

And the government of the United States wants a health care system totally controlled by the insurance industry?

Business/Economics, Fukushima

General Motors continues to get hit by Japan disaster

As a result of the ongoing disaster in Japan, General Motors suspended all nonessential spending and global travel, a GM spokesman announced.

In addition, GM will suspend production in Spain, and cancel two shifts in Germany.

Even a small supplier of products that are fed to a bigger supplier that feeds the automaker’s assembly plants can delay or halt vehicle production.

Think of the “always a bigger fish” example, but in reverse.  If there are no little fish to eat, what can the bigger fish do?