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wmulnea

BBC News - Falling oil prices: Who are the winners and losers? - 0 views

www.bbc.com/...business-29643612

shared by wmulnea on 13 Feb 15 - No Cached
  • The reasons for this change are twofold - weak demand in many countries due to insipid economic growth, coupled with surging US production. Added to this is the fact that the oil cartel Opec is determined not to cut production as a way to prop up prices.
  • Russia loses about $2bn in revenues for every dollar fall in the oil price,
  • Russia has confirmed it will not cut production to shore up oil prices.
  • ...12 more annotations...
  • Venezuela is one of the world's largest oil exporters, but thanks to economic mismanagement it was already finding it difficult to pay its way even before the oil price started falling.
  • Saudi Arabia, the world's largest oil exporter and Opec's most influential member, could support global oil prices by cutting back its own production, but there is little sign it wants to do this.
  • There could be two reasons - to try to instil some discipline among fellow Opec oil producers, and perhaps to put the US's burgeoning shale oil and gas industry under pressure.
  • Saudi Arabia needs oil prices to be around $85 in the longer term, it has deep pockets with a reserve fund of some $700bn - so can withstand lower prices for some time.
  • were to force some higher cost producers
  • In the 1980s the country did cut production significantly in a bid to boost prices, but it had little effect and it also badly affected the Saudi economy.
  • Saudi Arabia, Gulf producers such as the United Arab Emirates and Kuwait have also amassed considerable foreign currency reserves, which means that they could run deficits for several years if necessary.
  • Islamic State, capturing oil wells. It is estimated it is making about $3m a day through black market sales - and undercutting market prices by selling at a significant discount - around $30-60 a barrel.
  • "The growth of oil production in North America, particularly in the US, has been staggering," says Columbia University's Jason Bordoff.
  • It has been this growth in US energy production, where gas and oil is extracted from shale formations using hydraulic fracturing or fracking, that has been one of the main drivers of lower oil prices.
  • "Shale has essentially severed the linkage between geopolitical turmoil in the Middle East, and oil price and equities," says Seth Kleinman, head of energy strategy at Citi.
  • With Europe's flagging economies characterised by low inflation and weak growth, any benefits of lower prices would be welcomed by beleaguered governments. A 10% fall in oil prices should lead to a 0.1% increase in economic output, say some. In general consumers benefit through lower energy prices, but eventually low oil prices do erode the conditions that brought them about.
ysenia

Debating the Iran nuclear deal: A former American negotiator outlines the battleground ... - 0 views

www.brookings.edu/...al-battleground-issues-einhorn

politics iran american deal

shared by ysenia on 15 Feb 16 - No Cached
  • They will prevent Tehran from using the $100-plus billion in previously frozen oil revenues that will be released under the JCPOA to go on a buying spree next year for advanced conventional weaponry and ballistic missile technology. Although Iran will seek to evade the renewed restrictions, Russia and China voted for them and, together with other U.N. members, will be bound to enforce them. Although the arms embargo does not cover all categories of arms (air defense systems such as the S-300 are not included), neither Russia nor China is expected to sell Iran the weapons that are covered, such as high-performance aircraft.
  • ysenia on 15 Feb 16
     
    American Negotiator goes in depth about the long-term effects of the Iran Nuclear Deal. Outweighing the pros and cons of the situation and predicting the outcome.
sambofoster

Sex, Lies and Crime: Human Trafficking in the Middle East - 1 views

theislamicmonthly.com/trafficking-in-the-middle-east

women sex slaves middle east

shared by sambofoster on 10 Feb 16 - No Cached
  • 2.54% or approximately three-quarters of a million people are enslaved in the Middle East and North Africa.
  • With estimates of $34 billion to $150 billion in revenues generated, profit and greed are the motives for the transnational crime of human trafficking.
  • kafala, brings workers into the country and puts all the power into the hands of the employer
  • ccfuentez on 10 Feb 16
     
    Almost 3% of people in the Middle East are enslaved. Typically the people are trapped by falling for a "work trap." They leave their homes and families because they are promised employment. Upon arriving to work, the employers take everything from them and enslave them.
  • sambofoster on 03 Mar 16
     
    ABOUT THE AUTHORSharon Buchbinder, RN, Ph.D., is an award-winning professor at Stevenson University and novelist who recently published Obsession, which deals with human trafficking and international kidnapping. Follow her on Twitter at @sbuchbinder. MORE BY THIS AUTHOR In a previous issue of The Islamic Monthly, I examined the pervasiveness of human trafficking in Southeast Asia.
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