Tag Archives: China

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

Oil & Gas Prices: U.S. media flat lies about Iran’s oil sales!

The Washington Post reporting that Iran can not find buyers for its oil, and is storing oil on tanker ships as a result.

This is a blatant lie because Iran’s oil sales have only increased since the U.S. led sanctions were imposed!

The latest example is of Zimbabwe, which has asked for an increase in Iranian oil and refined diesel fuel.

Also, three ship bookers, including Galbraith’s Ltd in London, confirmed that India is buying more Iranian oil. A Liberian (former U.S. African colony) tanker has been chartered to ship 130,000 metric tons of Iranian crude (per shipment?) to India!

If Iran is storing oil on tankers, why did India have to charter a tanker?

In fact, on May 11, 2012, one Indian official told the U.S. to ‘F’ themselves over the Iran oil sanctions:  “Government of India is perfectly free to take a decision (on this issue). We do not take note of sanctions by other countries….So far as our sovereignty is concerned, we can assure that we will never allow any pressure…There will be less oil or more oil imported from Iran depending on demand. The oil [Indian] companies will decide that.”-Jaipal S. Reddy, India’s Minister of Petroleum and Natural Gas

Japanese media has just reported that Japanese oil companies are increasing the number of oil tanker ships.  JX Nippon Oil & Energy has just bought three 5,000 ton class tankers, and is planning on buying a fourth.  Cosmo Oil is buying an additional tanker.

Japan won an exemption from the U.S. oil sanctions against Iran, so guess where those new tankers are probably going to go for their crude cargo?

Another claim in the Washington Post article is that ships carrying Iranian oil can’t get insurance, because most maritime insurance companies are based in Europe.  However, China and Japan are in the process of buying insurance from Iranian companies!  The Iranian government is conducting a review to allow Iranian insurance companies to cover foreign ships.

Pakistan and Iran are in the process of creating a banking system that will allow Pakistan to buy Iranian oil and gas without going through the usual U.S./U.K. dominated international banking system.

The Iranian government is on the verge of privatizing 15 government controlled petroleum businesses. As part of the privatization process, the Iranian government has already sold 555 million shares of stocks in the companies, and more stocks will be issued!

On May 12, 2012, the Iranian Oil Ministry revealed they had “ratified” 16 new oil projects last year.  That was out of 28 projects submitted.

If Iranian oil is just sitting at the docks, why is the Iranian government approving so many new petroleum projects?

Business/Economics, International, U.S.

China sets Yuan at new record versus the U.S. dollar

The People’s Bank of China set the yuan’s midpoint at 6.267, meaning it could take 6.267 yuan to equal one U.S. dollar.  The more valuable the yuan is, the less it takes to equal one USD.

That’s a new record, and proof the Chinese are increasing the value of their money.  May 2, 2012, currency trading in China ended with the yuan at 6.30 for every one U.S. dollar.

The downside is that the more valuable the yuan is, the more expensive anything made in China becomes.  Better bring those jobs back in the U.S.S.A.

International

World War 3: Japan scrambles record number of interceptors in 2011

Japan’s Air Self Defense Force announced that Fiscal Year 2011 was a record setting year for intercepts of foreign military aircraft entering Japan’s air space.

425 Japanese fighters were scrambled (usually F-15 Eagles), which is 39 more than 2010.

247 intercept missions were against Russian aircraft.  156 missions against Chinese aircraft.

The JASDF says Russia and China have greatly increased their military reconnaissance flights around Japan.  JASDF also pointed out that such intercept missions dropped sharply when the Cold War ended (officially in 1991), but have seen an even sharper increase since 2005.

Japan’s fiscal year ends in March.

Technology

Terror Drones: April 16-22, Iran copies Stealth Drone shares info with Russia & China. Seattle & Ogden using drones. Illinois National Guard RQ-7B. CIA wants to kill everyone!

April 22, 2012, Iranian military officials announced they have successfully reverse engineered the RQ-170 Sentinel stealth UAV, captured from the United States in December last year.

Iranian officials gave several clues to prove they recovered data from the aircraft’s computers.

1: Drone parts had been transferred to California for technical work in October 2010. The drone was later transferred to Kandahar, Afghanistan in November 2010.

2: The drone had experienced some technical flaws in its Kandahar flight in November, but U.S. experts failed resolve the problems. The RQ-170 was then sent back to an airfield near Los Angeles in December 2010, for tests on its censors and parts. The drone had a number of test flights there.

3: The spy drone’s memory revealed that it had flown over Al-Qaeda Leader Osama bin Laden’s hideout in Pakistan two weeks before his death.

“Had we not accessed the plane’s soft wares and hard discs, we wouldn’t have been able to achieve these facts.”-Brigadier General Amir Ali Hajizadeh, Islamic Revolution Guards Corps (IRGC) Aerospace Forces

Iranian officials also confirmed that Russia and China are requesting that Iran share the info recovered from the RQ-170 Sentinel.  Iranian officials said many countries were asking for details on the U.S. stealth drone, but Russian and China had are being most insistent.

To show you how stupid U.S. officials are, U.S. Senator (and warmonger) Joe Lieberman called the claims “Iranian bluster.”

Facts are that during the 1980s Iran reverse engineered every U.S. and British weapons system they had, including the F-14 Tomcat and its Phoenix missiles!

Of course the Soviets helped. The proof is the fact that by the end of the 1980s the Soviets had exact copies of U.S. air to air missiles, including the Phoenix, as well as the radar system used on the F-14!

Iran has been building their own “new builds” of F-5s (including a twin tail version), F-14s (one British intelligence source had counted the number of F-14s Iran now has and concluded that the amount could only be explained by Iran building their own Tomcats), as well as developing their own medium altitude anti-aircraft missile based on the U.S. Hawk system.

Iran’s own Main Battle Tank (MBT), the Zolfaqar-3, is the result of combining technologies from U.S. M60 tank, British Chieftain tank and the Soviet/Russian T-72.  In other words; the Iranians are more than capable of reverse engineering the RQ-170 Sentinel stealth UAV.

April 21, Illinois National Guard has been operating UAVs within the U.S.  The unit is called Shadow Platoon and operates RQ-7B drones.

April 19, reports out of Pakistan said the United States is considering allowing Pakistani military to jointly operate U.S. assassination drones.

On April 19, the U.S. Central Intelligence Agency (CIA) has officially requested for permission to kill anyone in Yemen!

According to an unnamed U.S. source, the CIA wants expanded authority to kill, even when it does not know the identities of those who could be killed!  Apparently it is because U.S. assassination drone operators are having a hard time telling who’s the bad guy in Yemen!

U.S. Secretary of Defense, numb nuts Leon Panetta, flat out lied and said all the people killed by drones were planning on attacking the United States:  “Our target there represents those terrorists, or those al-Qaida terrorists that involve a threat to this country, and there are very specific targets. This is not broad based. We are not becoming part of any kind of civil war disputes in that country. We are very precise, and very targeted and will remain pursuant to those operations.”

An international legal expert countered by stating the drone strikes are a violation of international law:  “In other words, the CIA is seeking to escalate an already unlawful campaign of targeted killing at the very time Yemen needs support building the rule of law and ending violence and military conflict. The last time the CIA had this much freedom to kill was in Vietnam. It killed 25,000 people, and the U.S. lost the war!”-Mary Ellen O’Connell, American Society of International Law

April 18, U.S. drones killed five people in Yemen.

April 17, U.S. drones kill 31 people in Somalia.

April 16, three people killed by U.S. terror drone strike in Yemen.

The U.S. Federal Aviation Administration (FAA) approved a license for the Seattle Police Department to operate UAVs.  The approval was signed by President Obama back in February.

Since 2006, the FAA has issued as many as 750 UAV licenses, or permits, to 56 local governments through out the country. It took a lawsuit by the Electronic Frountier Foundation to force the FAA to reveal who is getting the permits.

Out of the 56, 22 are law enforcement agencies, including the Department of Homeland Security.  23 have law enforcement duties, such as universities who’s campus police are using the drones.

Here’s a short list of U.S. police departments licensed to operate UAVs: Arlington, Texas; North Little Rock, Arkansas; Queen Anne’s County, Maryland; FBI; Gadsden PD; Georgia Tech PD; Mesa County, Colorado; Miami-Dade, Florida; Montgomery County, Texas; Ogden, Utah; Polk County, Florida; Otter Tail County, Minnesota; Herington, Kansas.

 

 

 

International, U.S.

What Economic Recovery? IMF accepts Chinese Yuan policy against U.S. dollar, Japan loans IMF billions to bail out Europe, IMF says it’s not enough!

April 15, 2012, Japanese Finance Minister Jun Azumi, announced that Japan will lend $50 billion USD to the International Monetary Fund (IMF) to help bail out the European economies.

The IMF says at least $500 billion USD is now needed to bail out Europe!

On April 14, IMF managing director Christine Lagarde, said she welcomes the Chinese Yuan:  “I would like to welcome this important step by the People’s Bank of China to increase the flexibility of their currency. This underlines China’s commitment to re-balance its economy toward domestic consumption and allow market forces to play a greater role in determining the level of the exchange rate.”

The Bank of China said it will allow the value of the yuan to fluctuate by at least 1%, against the U.S. dollar, when international markets open on Monday.  Up ’till now the Chinese central bank has allowed only a half percent fluctuation.

However, some analysts say allowing the value of the Chinese yuan to fluctuate more could result in even more volatility/instability for world markets.

 

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

Oil & Gas Prices: New oil spill in Gulf of Mexico. Oil market bubble bursting? Blame War for your high prices! U.S. backed Oil War continues in Sudan. India #1 buyer of Iranian oil

“The U.S. Coast Guard is conducting an over flight assessment for a report of a rainbow sheen approximately one mile by 10 miles spotted near the Mississippi Canyon block 807 in the Gulf of Mexico……trying to identify the responsible party.”-Petty Officer Bill Colclough, U.S. Coast Guard

April 12, 2012, the USCG is investigating a report, by Royal Dutch Shell, of an oil spill located between two Shell off shore platforms, near the U.S. state of Louisiana.

Shell says it is not coming from its Mars and Ursa rigs.  It could be natural seepage.

The International Energy Agency says international oil stockpiles are so high, and demand is so low, that it expects oil prices to continue to drop.

Isn’t it funny how not even a  year ago the oil industry “experts” kept telling us that demand was still high, and that we could expect $150 per barrel, or more?

“Easing first quarter 2012 fundamentals have seen prices recently lose most of the $5 per barrel they gained in March. The muted impact so far is partly because much of this extra supply has been stockpiled on land or at sea.”-IEA statement

But don’t expect lower gas prices, as the Organization of Petroleum Exporting Countries said, the Northern Hemisphere summer driving season is always used as an excuse to raise prices: “U.S. oil demand remains a key uncertainty to the existing demand assessment. The upcoming driving season might be affected by high retail gasoline prices and the pace of the economic recovery.”-OPEC statement

The International Energy Agency says consumers can blame the high fuel prices on wars and rumors of wars: “We cannot discount the possibility that prices will remain high so long as geopolitical uncertainties remain.”-IEA statement

Sudan launched an offensive to re-take the largest oil field from South Sudan: “Within the next 72 hours, we shall have pushed all of their troops out of our territories.”-Rabie Abdelaty, Sudanese spokesman

The Heglig field produces about 60,000 barrels per day.  Last week U.S. supported South Sudan captured the Heglig.

India has just surpassed China, as Iran’s number one oil buyer.  In the first quarter of 2012 India imported 433,000 barrels per day from Iran.  China’s import rate for Iranian oil was only 256,000 bpd.  That’s according to  Petrologistics.

It could be that China had made a huge oil deal with Russia, but now Russian courts could threaten that deal.

Russian prosecutors are investigating the 30 year deal, over a discount giving to China.  That discount results in a reduction in profits, over the 30 years, of $3 billion USD.  Many Russians are not happy about that.

China imports 300,000 bpd from Russia’s Eastern Siberian oil fields.

 

 

 

 

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

No Longer Made in the U.S.A.? Former Ohio company now owned by China

Hydraulic Press Manufacturing (HPM) was a 135 year old Ohio plastics company, but it went bust in 2009.

However, you can still buy products with the HPM brand, but it’s not a U.S. company anymore.

In 2011 a Chinese company called Guangdong Yizumi Precision Machinery, bought all the rights to HPM and all its products.   Production has been started in southern China.

The Chinese company says they’ve even hired former U.S. employees of HPM.  They are setting up shop in the United States and already have contracts in north America worth $3 million USD.

 

International, U.S.

World War 3: China demands “responsible protection” for Syria

“Recently, China and Russia vetoed a UN Security Council resolution draft on Syria. Some people accuse China and Russia of not being ‘cooperative’ or ‘responsible’. In my view, our decision was the responsible one. We should not forget the lesson in Libya.”-Le Yucheng, Assistant Foreign Minister of China

Chinese officials believe a U.S. led war on Syria would have the same results as in Libya.  They compered the U.S. led war on Libya to “surgery that kills the patient”.   Libya is now in a full on civil war.

China’s Assistant Foreign Minister blasted the United States: “China does not do things just to please certain countries. China never takes its cue from others or pays the bill without asking the price. Being responsible means saying ‘no’ to such ‘protection’. What we need is not just ‘the responsibility to protect’ but also ‘responsible protection’.”

Business/Economics, Idaho, International, Technology, U.S.

What Economic Recovery? Good and Bad news for Idaho’s Hoku Materials

On March 22, 2012, Hoku Solar (a subsidiary of Hoku Corporation, in turn majority owned by China’s Tianwei New Energy) was selected to build a 7.2 megawatt solar farm in Kaua’i, Hawaii.

In December 2011, Hoku Solar actually delivered a 1.18 megawatt solar energy facility, the largest solar power plant in O’ahu, Hawaii.

After the announcement of the 7.2 megawatt solar farm contract, Hoku Corp stock went up 11%.

Now the bad news, another subsidiary of Hoku Corporation, Hoku Materials, is getting hit again by the construction contractor in charge of completing the southeastern Idaho polysilicon factory.

There are reports that once again Hoku has not fully paid its contractor JH Kelly.  This has happened before, and is part of the main cause for many construction delays in the past.  JH Kelly officials say they are taking “action” against Hoku.

Hoku Materials has also played the same game with electricity supplier Idaho Power.  Their latest battle was settled by an Idaho Public Utilities Commission (IPUC) decision.

According to an 15 March 2012 IPUC statement, Hoku got a new electricity contract which: “… reduces Hoku’s monthly minimum payment to about $800,000 for up to 18 months through June 2013.  To protect customers and the company from the lost revenue from the lower minimum payment, Hoku will reimburse the difference between the current and the revised minimum charge in payments spread through November 2014, plus 6 percent interest.  Hoku will also make an initial payment of $3.8 million, with $2 million of that coming from a $4 million deposit already provided by Hoku. The remaining $1.8 million will be paid over the next 18 months at $100,000 per month.  Hoku must give Idaho Power 30 days’ notice when it plans to exceed 10 MW and six-months’ notice when it plans to exceed 20 MW.”  

HOKU MATERIALS’ CUSTOMERS WHO ‘PREPAID’ ARE GETTING IMPATIENT!

International, U.S.

World War 3: Australia to allow United States to greatly increase military operations Down Under

Australian military officials gave a clue just how much the U.S. military will increase its presence in the region.

Not only will at least 2,500 U.S. forces be based in Darwin, Australia, but the U.S. Navy will be allowed to use their naval port at Perth.

Asian media pointing out that all the locations the U.S. will be allowed to operate from in Australia, face China, India and Southeast Asia.

Michael Wesley, at the Lowy Institute for International Policy, says Darwin is just outside the reach of Chinese ICBMs.

The Australian government has also revealed that the U.S. could be allowed to operate terror drones from the Cocos Islands in the Indian Ocean.