Oil Production » obama

UN Calls for the Creation of Global Reserve Currency

admin — Sun, 11 Apr 2010 23:22:20 +0000

(Bloomberg) — The dollars role in international trade should be reduced by establishing a new currency to protect emerging markets from the confidence game of financial speculation, the United Nations said.

UN countries should agree on the creation of a global reserve bank to issue the currency and to monitor the national exchange rates of its members, the Geneva-based UN Conference on Trade and Development said

http://www.bloomberg.com/apps/news?pid=20601087&sid=aSp9VoPeHquI
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The following is a summary of the main economic events from the Asia-Pacific and European sessions:

*UN Trade and Development Agency proposes setting-up a new world reserve currency based on a basket of global FX mediums.

*Former Feds Greenspan tells audience in Mumbai, India, that U.S. banks need to hold higher capital ratios than they do currently to offset any future crises.

*Gold breaks above the $1000-per-ounce mark for the first time since late February 2009.

*Chinese Finance Ministry says it will sell CNY 6.0 billion in government bonds; they will be issued in Hong Kong on September 28.

*PBOC Vice Governor Su tells audience at a finance conference that the central bank will continue providing appropriately loose monetary policy.

*UK Chancellor Darling tells audience in Cardiff, Wales, that while the government will not back away from cutting public spending, it will properly signal the move to market agents.

*Expansion interview: ECBs Gonzalez-Paramo says markets could be overreacting to the recent global wave of positive economic data; adds that excesses are always bad.

*UK industrial production rises 0.5% month-over-month in July, beating calls for a 0.2% increase and below the previous 0.6% gain; annual production contracts 9.3% compared to forecasts for a 10.1% fall and following the previous 10.7% decline.

*UK manufacturing production surges 0.9% month-over-month in July, beating forecasts for a 0.3% increase and the previous 0.6% gain; annual production declines 10.1% compared to forecasts for an 11.1% decline and after the previous 11.3% fall.

* German trade surplus rises to €13.9 billion in July, despite calls for a decline to €11.3 billion from €12.1 billion; current account surplus falls to €11.0 billion, a smaller drop than forecasts for a contraction to €10.0 billion from €13.5 billion the month prior.

*Swiss unemployment rate rises to 4.0% in August, despite calls for an increase to 4.1% from 3.9% the month prior.

*Japanese Eco Watchers current economic index falls to 41.7 in August, despite calls for an increase to 43.0 from 42.4 the month prior.

*Japanese trade surplus (BOP basis) drops to ¥437.3 billion in July, more than the expected fall to ¥495.1 billion from ¥602.2 billion in June; meanwhile, current account total increases to +¥1265.6 billion in July from +¥1152.5 billion, disappointing the consensus call, however, for a rise to +¥1452.6 billion.

*Australian NAB business conditions index rises to a +4 reading in August from +1 the prior month; meanwhile, business confidence component increases to +18 from +10 in July.

*UK BRC retail sales monitor declines 0.1% in August, worse than the expected flat reading but improving upon the prior 8.1% drop.

*Kraft Foods says it will continue its £10.2 billion ($16.7 billion) hostile bid to acquire Cadbury, after the chocolate maker rejected an offer by the American foods giant; Kraft is offering 300 pence, or slightly more than a quarter-of-a-share in Kraft, for every Cadbury share.

*British regulators fine Barclays £2.45 million ($4.0 million) for failing to provide accurate transactions information.

*Toyota announces it will hire 800 temporary employees in Japan in October due to improving auto sales.

*Taiwans PM Liu resigns due to the controversy over the governments response to the deadly typhoon last month.

*BBC: Reyes Heroles, the head of Mexicos state-owned oil company Pemex, is replaced by Juan Jose Suarez; Mexican Attorney General Eduardo Medina Mora, integral to the countrys war on drug cartels, also loses his position.

http://www.fxstreet.com/fundamental/market-view/the-overnight-express-north-american-edition/2009-09-08.html
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The United Nations Conference on Trade and Development said in a report published Monday that the U.S. dollar should be replaced as the worlds standard reserve currency, giving rise to a new global currency managed by an as-yet undetermined financial regulatory organization.

http://rawstory.com/08/news/2009/09/07/united-nations-calls-for-new-world-currency/
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Duration : 0:4:6

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Guy Caruso on Administration’s OCS Policy

admin — Fri, 09 Apr 2010 01:07:06 +0000

Guy Caruso spent more than six years leading the Energy Information Administration under George W. Bush. Speaking with Clean Skies News’ Tyler Suiters, he says not to expect the newly opened OCS areas to produce significant BTU’s for another 5 to 7 years.

Duration : 0:3:19

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President Obama Opens Offshore Oil and Gas Drilling w New Bio Fuel Fighter jet at Andrews AFB

admin — Tue, 06 Apr 2010 01:02:07 +0000

Biofuel F-18 fighter jet – called the Green Hornet – will be flown for the first time on Earth Day. President Obama Opens Offshore Oil and Gas Drilling w New Bio Fuel Fighter jet at Andrews Air Force Base AFB Energy Security and Independence Defense Department has invested $2.7 billion this year alone to improve energy efficiency.
President Obama announces plans to open new offshore areas for oil and gas development in ways that protect the environment and as part of a larger strategy to ensure energy security and independence.

Duration : 0:13:39

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huge governmental gold sales behind the scenes ( Max Keiser ) crude oil price China

admin — Wed, 31 Mar 2010 02:16:03 +0000

huge governmental gold sales behind the scenes, american soldiers working to supply oil to China, pickpocketing because of red tide toxic algae, us treasury rigging the market in summer of 2008 to jack up the value of the dollar and lower the price of crude oil, recorded on September 20th 2008

Duration : 0:4:33

[youtube gOWKx32oN8U]

Oil producers to oust dollar?

admin — Sat, 06 Mar 2010 22:00:07 +0000

A report in the UKs Independent newspaper says Brazil, China, Russia, Japan and the Gulf states plan to stop using the dollar in oil trading. The newspaper claims the countries have been in ongoing secret talks on the matter.

Duration : 0:3:26

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Oil Producers To Drop Dollar

admin — Sat, 20 Feb 2010 03:55:16 +0000

As predicted by independent researchers for a long time now.

Duration : 0:3:26

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A Case for ANWR and Offshore Oil Exploration

admin — Wed, 17 Feb 2010 01:45:52 +0000

As the nation’s struggling economy surpasses the war in Iraq as the biggest concern for most Americans, it is time for Congress to make a serious decision on the issue of domestic drilling in ANWR and offshore oil reserves. The widespread call to end the 1981 moratorium on offshore drilling coupled with a decision to drill in the ANWR region could significantly reduce our dependency on foreign oil. Here is why this is one of the most pressing issues of our time, and what can be done now to solve it…

Duration : 0:7:47

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Obama on Clean Energy: Build Safe, Clean Nuclear Power Plants; New Offshore Oil & Gas Development

admin — Sun, 14 Feb 2010 04:16:53 +0000

(1/27/10) Barack Obama–State of the Union: “To create more of these clean energy jobs, we need more production, more efficiency, more incentives. That means building a new generation of safe, clean nuclear power plants in this country. It means making tough decisions about opening new offshore areas for oil and gas development. It means continued investment in advanced biofuels and clean coal technologies.”

Background Article:

“Obama Said to Seek $54 Billion in Nuclear-Power Loan Guarantees”: http://www.bloomberg.com/apps/news?pid=20601087&sid=a44IdhfYkf2s

Duration : 0:3:15

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Peak Oil, Climate Change, Economy: Unsustainable 2010 (HQ Version)

admin — Thu, 31 Dec 2009 05:11:20 +0000

Music by Muse, Exogenesis from the album Resistance.

http://www.facebook.com/onearth
The latest video from Sustainable Earth. Includes new reports from government, the military, intelligence agencies and major NGO’s. It ends on a positive note; the reality of consequence will finally free humanity from short-term thinking.

I looked at literally dozens of reports for this short video…in the end I picked the most credible and those that summed up the prevailing thinking of the world’s best experts. Unfortunately it was impossible to include every detail; this is just an introduction to the subject. For further reading the files which make up this video are below.

Hirsch Report Peaking of World Oil Production: Impacts, Mitigation, and Risk Management (US Dept of Energy): http://www.netl.doe.gov/publications/others/pdf/Oil_Peaking_NETL.pdf

Energy Trends and Implications for U.S. Army Installations(US Marine Corp): http://handle.dtic.mil/100.2/ADA440265

Global Oil Depletion (UK Energy Research Centre): http://www.ukerc.ac.uk/support/Global%20Oil%20Depletion

Coming Oil Supply Crunch(Chatham House): http://www.chathamhouse.org.uk/publications/papers/view/-/id/652/

Peak Oil: A Survey of Security Concerns(Center for New American Security):http://www.cnas.org/node/26

Global Trends 2025: A World Transformed(US National Intelligence Council/Director of National Intelligence):
http://www.dni.gov/nic/NIC_2025_project.html

DCDC Strategic Trends 2007-2036(UK Ministry of Defence): http://www.mod.uk/DefenceInternet/MicroSite/DCDC/OurPublications/StrategicTrends+Programme/

Global Atmosphere Watch Strategic Plan: 2008 – 2015 (World Meteorological Programme United Nations): http://www.wmo.int/pages/prog/arep/gaw/gaw_home_en.html

The Great Transition(New Economics Foundation): http://www.neweconomics.org/publications/the-great-transition

Music by Muse: Exogenesis from album Resistance http://muse.mu/

Duration : 0:10:18

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High gas prices?! And why do you think that is?

admin — Tue, 22 Dec 2009 19:53:25 +0000

Senators Clinton and Obama, did you both sleep through Economics 101? The only way to reduce gas prices is to reduce demand? No, no, no! The best way to drive the price of gas down is to increase SUPPLY! Neither of your answers addressed our need to reduce our dependence on foreign oil.

Why is it that the last oil refinery in the United States was built in 1976? And why don’t we find newer and better oil and gas resources here in our own country?

The United States consumes 20 million barrels of oil a day. The demand for oil will not be going down anytime soon. The Arctic National Wildlife Refuge (ANWR) is known to contain huge oil and gas deposits, but because of environmental lock-up restrictions on oil production on America’s offshore Outer Continental Shelf (OCS), we have to import 65% of our oil from foreign sources.

More than 75% of Alaskans favor exploration and production in ANWR, so why not more support from the pinheads in Washington, D.C.?

Only 8% (1.5 million acres) of the northern coast of ANWR is being considered for research & development, and the remaining 92% (17.5 million acres) of ANWR will remain permanently closed to any kind of development. If oil is discovered, then less than 2000 acres of the over 1.5 million acres of the Coastal Plain would be affected. That’s less than half of one percent of ANWR that would be affected by production activity. How much is 2000 acres? To put this in perspective, nearly 370,000 total acres were burned in San Diego wildfires last fall, and back in 2003, over 700,000 acres were burned in California alone.

Conservative estimates indicate that ANWR’s 10-02 Area contains the equivalent of over 30 years worth of Saudi oil.

If the Washington beaurocrats are serious about ending our dependence on foreign oil, then they need to allow R&D to begin in ANWR. It’s time to use the resources in our own country. Why buy something from other countries that we possess ourselves?

Reducing demand is not the answer.
Growing more corn for ethanol is not the answer.
Hybrid cars are not the answer.

The ANsWeR is ANWR.

Duration : 0:3:38

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