Tag Archives: economy

Business/Economics, International, U.S.

Oil & Gas Prices: Argentina raises prices, Quantas uses cooking oil to fuel planes, Sinopec looking to rival U.S. shale oil production

Daniel Cameron, Argentina’s Energy Secretary, is proposing to raise the price of Argentine oil exports to $63 per barrel.  Currently Argentina sells their oil at $42 per barrel.

Decades ago the Argentine government froze their export oil prices.  Now oil production is way down, because it’s not worth it to the Argentine oil companies.

To make the economic situation worse, Argentina imports most of its refined fuel, and that’s been going up, in price as well as volume.  Cameron wants to increase their export oil prices to offset the growing demand and cost of imported fuel, and to build up reserve funds in Argentina’s Central Bank.

The Australian airline Quantas, will be using a mix of kerosene based jet fuel, and used cooking oil.

Two of their airliners will be using the mixed fuel.  It’s being supplied by a Dutch company called SkyNRG.

Don’t be too concerned, the turbine (jet engine) is a glorified diesel engine.  In 1893 Rudolph Diesel designed the diesel engine specifically to run on peanut, or vegetable oil.  He succeed, however he was sued by Rockefeller’s Standard Oil.

Today’s diesel fuel is actually Petrodiesel, meaning fuel for diesel engines made from petroleum, not plant oils.

So, turbines and piston diesel engines should run fine on cooking oil, unless they were specifically made to run on Petrodiesel only (and don’t forget the bogus U.S. EPA rules that force you to use Petrodiesel in your diesel powered vehicle).

Virgin Airways Australia is also about to run their airliners on plant based fuels.  The fuel will be based on a type of Eucalyptus, called a Mallee tree in Western Australia.

China Petroleum and Chemical Corporation (Sinopec) will increase oil production and natural gas extraction.  This is partly because their profits dropped by 23% in their fourth business quarter.

The drop in profits came as corporate officials tried to shift from producing fuel, to buying fuel from other refiners.  Officials said Sinopec refining operations were actually costing more than refiners in other countries.

Sinopec is also exploring possible shale oil in western China, which could rival shale oil production in the United States.

 

 

Business/Economics, International, U.S.

Government Incompetence: More U.S. citizens renounce their citizenship, American exodus continues, if you leave you are now a terrorist

“What we have seen is a substantial change in mentality among the overseas community in the past two years. Before, no one would dare mention to other Americans that they were even thinking of renouncing their U.S. nationality. Now, it is an openly discussed issue.”-Jackie Bugnion, American Citizens Abroad 

Since 2008 the numbers of U.S. citizens rejecting their citizenship has only gone up.

2008: 235

2009: 743

2010: 1,500+

And these are the people who left the United States and officially rejected their citizenship.  The number of people who still have U.S. citizenship, after leaving,  are in the millions!

The exodus has got government leaders so riled up that they’ve passed tax laws (like FATCA & FBAR) that essentially makes anyone who leaves the United States a tax evading terrorist.

This is redundant because expatriates are already required to pay U.S. taxes even though they live in another country: “The U.S. is the only developed nation in the world that taxes its citizens on income they earn abroad.“-William McGurn, Wall Street Journal

By one count, 5.2 million U.S. citizens live outside the United States, and pay taxes to the United States!

Recently a U.S. citizen, who’s been living in Sweden for 25 years, got hit with a huge FBAR fine: “I was potentially looking at a seven figure fine.”-‘Pamela’

‘Pamela’ also explained how she was treated like a suspected terrorist: “I was treated like a criminal. I was told that even in the Voluntary Disclosure Program it would be assumed I was a ‘willful violator’ of the tax laws and would need to pay 25% of all my overseas assets, based on the highest balance in the sum total of all my bank accounts, retirement accounts, apartment, car, etc. over the last eight years.”

The U.S. government even puts pressure on other countries to go after the U.S. expats: “We have heard of banks calling in mortgages and refusing pension fund and insurance coverage for U.S. citizens.”-Mary Louise Serrato, American Citizens Abroad

Serrato says the U.S. government is even going after people who were born in the U.S., to foreign parents, but then left immediately afterwards never to return: “Many individuals are not even aware that they are American and should be filing, such as Green Card holders and ‘accidental’ Americans (born in the U.S., left when they were three and never returned), children of Americans now living overseas (even if U.S. citizenship was never claimed)!”

“I really can’t believe it! This nice country that I respect, have they gone mad?”-Peter Hallworth, U.K. citizen, who’s two adult sons (raised in Britain) are being forced to pay U.S. taxes because they were born in the United States

U.S. expats living abroad, yet paying U.S. taxes with little or no representation.  Isn’t that what the U.S. Revolution of 1776 was all about?

Business/Economics, International, U.S.

One Year later: Japanese fishing boat found off coast of Canada, first of 3 million tons of debris still heading for North America

“The vessel is considered an obstruction to navigation.”-Transport Canada statement

A 65 meter (210 feet) long fishing boat from Japan was found off Haida Gwaii islands (some reports say Queen Charlotte Islands), about 1,500 kilometers (930 miles) north of Vancouver, Canada.

The fishing boat was washed away from Japan by the March 11, 2011 tsunami.  Senator Maria Cantwell, of the U.S. state of Washington, estimates another 50 days before the ship hits land, and warns it is the first of many more to come: “This 150 feet fishing vessel is the first major West Coast tsunami debris confirmed by Japanese officials. And now, we’ve learned that larger debris could reach our coastlines sooner than expected. With some debris already moving towards the West Coast, we need more data and better science to track and respond to tsunami debris….Coastal residents need to know who is in charge of tsunami debris response, and we need clearer answers now.”

Japan’s Coast Guard has identified the boat as coming from Aomori Prefecture.

Also, Russians found a 20 foot Japanese fishing boat near Midway Atoll.

 

 

 

 

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

Class Warfare: Elitist Canada to increase the cost of college, again! This time by 75%! University is a “privilege”?

Provinces across Canada have been increasing the cost of college, just as their neighbors to the south (U.S.A.) are doing.

Currently the cheapest place for Canadians to go to college/university is Quebec. As of March 2012, the average yearly cost for attending college in Quebec is $2,519 CAD ($2,539.91 USD).  But provincial officials want a 75% increase over the next five years!

One student pointed out that college students in Quebec have less debt than other Canadians, and implied that forcing young Canadians into debt was the intent:  “Tuition fees are lower in Quebec than the rest of Canada, but so is the student debt, which is a good impact of low tuition fees.”-Hugo Bonin, attending Concordia

Many people are torn over whether college should be made more expensive, or free.  Many with an elitist attitude say it is a “privilege” not a “right”.  Well in actuality it’s neither!  If our business leaders, and government leaders, are constantly harping about the lack of “skilled” employees, and they are constantly pushing grade school students to “Go On” (higher education campaign slogan used by the state government of Idaho, U.S.A.) so that we can be more competitive in the global economy, then it is not a privilege or a right, it is a requirement!

Why should we pay for college (more like getting into massive debt for life) for the benefit of industry and government?  Unless our leaders are lying to us (would they?) it is obvious that higher education is now a requirement, which means if they want qualified workers then they need to pay for the education to create the qualified workers, goddam it!

So how much is the average price of a “privileged” higher education in the rest of Canada?  $5,366 CAD ($5,410.55 USD)!

Fukushima

One Year Later: Japan develops their first ever mobile pet clinic, to help the hundred of animals still suffering in Iwate

Iwate University, along with a pet food company in Tokyo, have developed a mobile pet clinic specifically to try and help the more than 450 pets still suffering in Iwate Prefecture.

Iwate was hit hard by the March 11, 2011, Mega Quake and tsunami.  It’s also near Fukushima prefecture, and has been affected by radiation from the destroyed Fukushima Daiichi nuke power factory.

The mobile clinic will allow veterinarians to even conduct surgeries.  Director of Iwate University Veterinary Teaching Hospital, Reeko Sato, says hundreds of pets have gone a full year without any treatment for their injuries, or radiation related illnesses.  Most veterinarian services were destroyed on March 11, 2011.

It’s hoped more mobile pet clinics are created, in Fukushima Province there are even more animals who need attention.

ONE YEAR LATER: WHAT HAPPENED TO THE FARM ANIMALS & PETS OF TSUNAMI HIT JAPAN?

Business/Economics, Technology, U.S.

What Economic Recovery? Hewlett Packard going down, HP to cut even more jobs in Boise?

“We didn’t make the investments we should have during the past few years to stay ahead of customer expectations and market trends. As a result, we see eroding revenue and profits today.”-Meg Whitman, CEO of HP, February interview

There’s rumors that Hewlett Packard is considering merging its computer production, with its printer production.  Boise, Idaho, is home to a huge HP compound that includes  printer manufacturing.

Analysts say they don’t know what good will come from such a merger, but agree that people are going to lose their jobs: “HP has some massive structural fixes that they need to make, and this doesn’t come close. I don’t see how this changes anything apart from probably giving you an excuse to cut some heads and cut some costs.”-Rob Cihra, Evercore Partners

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

World War 3: Germany sells more Dolphin Submarines to Israel

March 20, 2012, Germany’s Defense Minister, Thomas de Maiziere, announced that Germany will sell Israel at least one more Dolphin submarine.

The Dolphin submarine is made specially for Israel, and is a smaller version of the 209 class sub.  It can carry SLCM (submarine launched cruise missiles) which can be armed with nuclear warheads.  Oh, but I don’t hear any Western powers complaining about that!

Not only is Germany selling more of these submarines to Israel, but according to an unnamed source in the German government, they’re covering one third of the cost (about $178 million) and providing easy loans to Israel in order to pay for the rest!

Israel has three of the 2,800 mile range submarines, with two on order not counting this latest announcement.

 

Business/Economics, International, Technology

Nissan to bring Datsun back to life

Up until the mid 1980s Nissans were sold in the U.S. under the Datsun name.  Now Nissan is reviving that brand, but not for the United States.

Nissan says Datsun vehicles became known as cheap but reliable cars.  They are reviving the brand name for the Indonesian, Indian and Russian car markets.

Datsun started in 1931 as DAT motors. Its smaller cars were called DAT-son, as in son of DAT.  In 1933, Nissan took over the company and changed the name to Datsun, because the Japanese Emperor is considered a descendant of the sun goddess Amaterasu, and because ‘son’ means loss in Japanese.

The cars will be made in factories in those countries.  Indonesia is now the number one car market in South East Asia, 890,000 vehicles were sold there in 2011!

 

 

Business/Economics, International, U.S.

Oil & Gas Prices: More Hypocrisy; the U.S. exempts EU & Japan from Iran oil sanctions

In a move that is hypocritical, the United States has exempted 10 European Union countries, and Japan, from U.S. imposed Iran oil sanctions.

It also brings up the question: What was the point?

I already showed how, under the Bush jr administration, U.S. corporations were exempted from future sanctions against Iran, back in 2000!

The countries now granted exemptions from the U.S. oil sanctions are Belgium, United Kingdom, Czech Republic, France, Germany, Greece, Italy, Netherlands, Poland, Spain and Japan.

Again: What was the point of the U.S. imposed sanctions against Iran, if the U.S. is going to grant exemptions to other countries, and, a Republican created law in 2000 already exempts U.S. corporations from having to obey any sanctions anyway?

Business/Economics, International

Oil & Gas Prices: Russian Gasoline exports making big money, Russia imposes big fuel tax! How would you like to pay as little as $2.00 per gallon?

For the first time Russian export gasoline (petrol) sales are making more money that domestic sales.

Last week Russian export premium gasoline hit $1,050 per ton.  Domestically sold premium gas was at $970 per ton.  Russian fuel exports have also increased in volume.

Most of Russia’s exported refined fuels go to Commonwealth of Independent
States (CIS) members, but export customers also include Virgin Islands and Netherlands.

Interestingly, the surge in fuel exports comes even after Russia imposed a 90% customs tax!  Analysts say even with such an outrageous tax, Russian fuel exports are still profitable because of how high the price of oil is.

According to Russian media, the price of premium gasoline, in the CIS countries, varies from $4.00 per gallon in some parts of Russia, to as little as $2.00 per gallon in parts of Kazakhstan!  ($1.00 per liter in Russia, 50 cents per liter in Kazakhstan)