KTFA:
ReddStarr: GCC countries expected to lose $100B due to low oil prices!
Fiscal balances in MENA oil exporters swung from a surplus of $128 billion in 2013 to a deficit of $264 billion in 2016, according to the World Bank’s latest MENA Quarterly Economic Brief, “Whither Oil Prices?” report.
The group of Gulf Cooperation Council (GCC) countries lost $157 billion in oil revenues last year and is expected to lose another $100 billion this year, the report said.
Saudi Arabia has depleted $178 billion in reserves, followed by Algeria ($28 billion), and Iraq ($27 billion) in 2015.
Oil revenues have been falling for the third year in a row with fiscal deficits and debts rising. At the same time, several countries - Libya, Iraq, Syria and Yemen- are dealing with the devastating impact of civil war and forced displacement, exacerbating pressure on already tight budgets, the report said.
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ReddStarr: GCC countries expected to lose $100B due to low oil prices!
Fiscal balances in MENA oil exporters swung from a surplus of $128 billion in 2013 to a deficit of $264 billion in 2016, according to the World Bank’s latest MENA Quarterly Economic Brief, “Whither Oil Prices?” report.
The group of Gulf Cooperation Council (GCC) countries lost $157 billion in oil revenues last year and is expected to lose another $100 billion this year, the report said.
Saudi Arabia has depleted $178 billion in reserves, followed by Algeria ($28 billion), and Iraq ($27 billion) in 2015.
Oil revenues have been falling for the third year in a row with fiscal deficits and debts rising. At the same time, several countries - Libya, Iraq, Syria and Yemen- are dealing with the devastating impact of civil war and forced displacement, exacerbating pressure on already tight budgets, the report said.
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Oil prices are still up about 60 percent from 12-year lows of $26-$27 in the first quarter. But the rally has faded since they breached $50 in May.
For 2015, the US Energy Information Administration (EIA) estimates that members of OPEC earned about $404 billion in net oil export revenues (unadjusted for inflation).
This represents a 46% decline from the $753 billion earned in 2014, mainly as a result of a precipitous fall in average annual crude oil prices during the year, and to a lesser extent to decreases in the level of OPEC net oil exports. This revenue total was the lowest earnings for OPEC since 2010.
EIA projects that OPEC net oil export revenues could fall further to about $341 billion dollars (unadjusted for inflation) in 2016.
http://ift.tt/2anARbM
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ReddStarr: Investing in the new silk road!
By Shahid Javed Burki Published: July 31, 2016
For 2015, the US Energy Information Administration (EIA) estimates that members of OPEC earned about $404 billion in net oil export revenues (unadjusted for inflation).
This represents a 46% decline from the $753 billion earned in 2014, mainly as a result of a precipitous fall in average annual crude oil prices during the year, and to a lesser extent to decreases in the level of OPEC net oil exports. This revenue total was the lowest earnings for OPEC since 2010.
EIA projects that OPEC net oil export revenues could fall further to about $341 billion dollars (unadjusted for inflation) in 2016.
http://ift.tt/2anARbM
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ReddStarr: Investing in the new silk road!
By Shahid Javed Burki Published: July 31, 2016
Experts attach special significance to the importance of “connectivity” – linking the countries in the Asian continent with one another. Two facts that underlie China’s current economic situation are usually noted in this context: its dependence on sea routes to supply its economy.
China imports about 60 per cent of its energy needs in the form of oil and gas from countries in the Middle East and Central Asia. About 80 per cent of these imports pass through the narrow Strait of Malacca. China is thus vulnerable to disruptions that would seriously hurt its economy.
This fear is one reason why Beijing plans to investment a massive amount of resources in what it calls the One Belt, One Road Project (OBOR). The planned investments amount to some $890 billion in 64 countries. Pakistan and Kazakhstan are two major recipients of the OBOR related resources. Most experts believe that the project will cost much more than this amount and would be implemented over several decades.
Once the major links in the planned network are completed the Chinese would have changed the structure and shape of global commerce. The country’s dependence on seaborne trade would have been reduced and land-based commerce would have become a significant part of the global delivery system.
The Chinese approach to the use of land to transport not only goods and commodities but also ideas and people is not new. What is new is that modern methods are being introduced into these types of exchanges. “Two thousand years ago Chinese writers set about a systematic approach to gathering information about the peoples beyond the deserts and mountain ranges that protect China’s interior, assessing their markets, leading strengths and weaknesses,” writes Peter Frankopan, author of The Silk Roads: A New History of the World. “That found parallels in the works of authors such as Herodotus, whose attention likewise was on the land bridge that connects east and west.”
The focus on developing this land bridge is not only to find an alternative to sea routes. Exploiting the mineral wealth of Central Asia is another reason for the Chinese interest. Two thousand years ago, China was attracted to the area in part because of its natural wealth – silver, gold, and lapis lazuli were found in abundance in Iran, Iraq, Afghanistan and the Central Asian states.
The current estimates of this wealth are even more impressive. A Pentagon study based on the geological work done in the 1980s by the Soviet Union forces that then occupied Afghanistan came to the conclusion that the Afghans may be sitting on top of one trillion dollars worth of mineral wealth. These deposits are not just of precious metals. Even more significant, they include iron, copper and rare metals such as lithium, used in batteries and electronic equipment. In fact, some experts have suggested that once these metals are extracted and processed, Afghanistan may well get to be known as the “Saudi Arabia of lithium.”
Returning to history, centuries ago, the great cities of Samarkand, Mosul and Merv offered great commercial opportunities, thanks to their large and rich elites. What was done by the Chinese manufacturers and traders then could be done once again. Europe and the Middle East’s rich urban areas offer the markets the Chinese are interested in exploiting. To take one example, Chinese diasporas have come into existence in Italy, attracted to the country’s design centres for products as diverse as automobiles and silk scarves.
The Chinese interest in the countries of landlocked Central Asia is not without historical precedence. To refer again to the work by Peter Frankopan, the Mongols in the 13th and 14th centuries achieved some of what today’s Chinese are hoping to do. Their “empire, extending from the Pacific to the Black Sea was not characterised by violence and chaos but by careful and deliberate investment in major urban centres. They employed what we today call progressive tax policies, which encouraged trade within and between cities to stimulate greater revenues for the state.” According to this interpretation, the Mongols don’t quite deserve the reputation history gave them after their empire had collapsed.
Unlike the Mongol empire of 500 years ago, the Chinese will not use tax revenues from the countries with which they will connect. They are finding ways to commit their own resources to implement the projects that together make up the ambitious OBOR. The Export-Import Bank of China (EIBC) that promotes foreign trade and investment has already financed 1,000 projects involving 49 countries. It is more active than the Asian Development Bank (ADB); it lent more than $80 billion in 2015 compared with $27.1 billion by ADB. More projects will get the EIBC agency’s support as OBOR activity picks up. The Asian Infrastructure Investment Bank, a Chinese conceived institution, is expected to play a major role in developing OBOR projects.
However, its lending will increase gradually. It will invest $1.5 billion to two billion dollars in 2016, increasing to three billion dollars in 2017 and $10 billion in 2018. Some foreign institutions, attracted by the promise of long-term returns of six to eight per cent on OBOR projects are interested. According to one source, IE Singapore, the state-owned trade development board, has agreed to partner with the China Construction Bank to finance OBOR projects with about $22 billion in envisaged funding. Resources, in other words, will not be a constraint in moving the New Silk Road from a dream to reality.
http://ift.tt/2aqNq7g
Mountainman: Who Wants to Question how POWERFUL the CHINESE YUAN is Going to Be.......???
Now We Know this because of the IMPORTANCE of the UK, CHINA, SAUDI Relationship......The SAUDI VISION 2030 Article from YESTERDAY Spelled Out their "PLAN of ACTION" and How EUROPE and AFRICA are A MAJOR PART of their INVESTMENT.......
Likewise, CHINA is Establishing their Role as A NEW RESERVE CURRENCY......Thus the REASON (Why) They are So Engrossed in INVESTING TRADE ROUTES and A DELIVERY SYSTEM Out of the Water and In the Water, this Will Propel their Economy Into the STRATOSPHERE.......Yah Buddy.......
The OBOR PROJECT will Carry their Global TRAJECTORY.......Also Take (NOTE) SINGAPORE=OZ is Right There On POINT to HELP this OBOR Along it's MERRY WAY.......RIGHT ON TARGET........IMO
Blessings,Mountainman (8)=New Beginnings.......for An INTENDED {OBOR}=One Belt One Road TARGET........INDEED
China imports about 60 per cent of its energy needs in the form of oil and gas from countries in the Middle East and Central Asia. About 80 per cent of these imports pass through the narrow Strait of Malacca. China is thus vulnerable to disruptions that would seriously hurt its economy.
This fear is one reason why Beijing plans to investment a massive amount of resources in what it calls the One Belt, One Road Project (OBOR). The planned investments amount to some $890 billion in 64 countries. Pakistan and Kazakhstan are two major recipients of the OBOR related resources. Most experts believe that the project will cost much more than this amount and would be implemented over several decades.
Once the major links in the planned network are completed the Chinese would have changed the structure and shape of global commerce. The country’s dependence on seaborne trade would have been reduced and land-based commerce would have become a significant part of the global delivery system.
The Chinese approach to the use of land to transport not only goods and commodities but also ideas and people is not new. What is new is that modern methods are being introduced into these types of exchanges. “Two thousand years ago Chinese writers set about a systematic approach to gathering information about the peoples beyond the deserts and mountain ranges that protect China’s interior, assessing their markets, leading strengths and weaknesses,” writes Peter Frankopan, author of The Silk Roads: A New History of the World. “That found parallels in the works of authors such as Herodotus, whose attention likewise was on the land bridge that connects east and west.”
The focus on developing this land bridge is not only to find an alternative to sea routes. Exploiting the mineral wealth of Central Asia is another reason for the Chinese interest. Two thousand years ago, China was attracted to the area in part because of its natural wealth – silver, gold, and lapis lazuli were found in abundance in Iran, Iraq, Afghanistan and the Central Asian states.
The current estimates of this wealth are even more impressive. A Pentagon study based on the geological work done in the 1980s by the Soviet Union forces that then occupied Afghanistan came to the conclusion that the Afghans may be sitting on top of one trillion dollars worth of mineral wealth. These deposits are not just of precious metals. Even more significant, they include iron, copper and rare metals such as lithium, used in batteries and electronic equipment. In fact, some experts have suggested that once these metals are extracted and processed, Afghanistan may well get to be known as the “Saudi Arabia of lithium.”
Returning to history, centuries ago, the great cities of Samarkand, Mosul and Merv offered great commercial opportunities, thanks to their large and rich elites. What was done by the Chinese manufacturers and traders then could be done once again. Europe and the Middle East’s rich urban areas offer the markets the Chinese are interested in exploiting. To take one example, Chinese diasporas have come into existence in Italy, attracted to the country’s design centres for products as diverse as automobiles and silk scarves.
The Chinese interest in the countries of landlocked Central Asia is not without historical precedence. To refer again to the work by Peter Frankopan, the Mongols in the 13th and 14th centuries achieved some of what today’s Chinese are hoping to do. Their “empire, extending from the Pacific to the Black Sea was not characterised by violence and chaos but by careful and deliberate investment in major urban centres. They employed what we today call progressive tax policies, which encouraged trade within and between cities to stimulate greater revenues for the state.” According to this interpretation, the Mongols don’t quite deserve the reputation history gave them after their empire had collapsed.
Unlike the Mongol empire of 500 years ago, the Chinese will not use tax revenues from the countries with which they will connect. They are finding ways to commit their own resources to implement the projects that together make up the ambitious OBOR. The Export-Import Bank of China (EIBC) that promotes foreign trade and investment has already financed 1,000 projects involving 49 countries. It is more active than the Asian Development Bank (ADB); it lent more than $80 billion in 2015 compared with $27.1 billion by ADB. More projects will get the EIBC agency’s support as OBOR activity picks up. The Asian Infrastructure Investment Bank, a Chinese conceived institution, is expected to play a major role in developing OBOR projects.
However, its lending will increase gradually. It will invest $1.5 billion to two billion dollars in 2016, increasing to three billion dollars in 2017 and $10 billion in 2018. Some foreign institutions, attracted by the promise of long-term returns of six to eight per cent on OBOR projects are interested. According to one source, IE Singapore, the state-owned trade development board, has agreed to partner with the China Construction Bank to finance OBOR projects with about $22 billion in envisaged funding. Resources, in other words, will not be a constraint in moving the New Silk Road from a dream to reality.
http://ift.tt/2aqNq7g
Mountainman: Who Wants to Question how POWERFUL the CHINESE YUAN is Going to Be.......???
Now We Know this because of the IMPORTANCE of the UK, CHINA, SAUDI Relationship......The SAUDI VISION 2030 Article from YESTERDAY Spelled Out their "PLAN of ACTION" and How EUROPE and AFRICA are A MAJOR PART of their INVESTMENT.......
Likewise, CHINA is Establishing their Role as A NEW RESERVE CURRENCY......Thus the REASON (Why) They are So Engrossed in INVESTING TRADE ROUTES and A DELIVERY SYSTEM Out of the Water and In the Water, this Will Propel their Economy Into the STRATOSPHERE.......Yah Buddy.......
The OBOR PROJECT will Carry their Global TRAJECTORY.......Also Take (NOTE) SINGAPORE=OZ is Right There On POINT to HELP this OBOR Along it's MERRY WAY.......RIGHT ON TARGET........IMO
Blessings,Mountainman (8)=New Beginnings.......for An INTENDED {OBOR}=One Belt One Road TARGET........INDEED
WSOMN:
AdminBill: JUST IN UPDATE - REPORTED THAT PROCESS WAS STOPPED LATE LAST NIGHT. REASON NOT GIVEN……. NO NEW INFO APART FROM THAT…. REMEMBER THAT ONE SOURCE IS ONLY ONE SOURCE
SunniDaze: WATCH THE MARKETS THEY ARE UNWINDING THE DERIVATIVES
SunnysPlace: PLEASE, DONT BE TOO DISCOURAGED, OUR TIME IS CMING, AND IT WILL BE VERY SOON...
Sparke: i've heard we're next in line so no worries
SunniDaze: REMEMBER GLOBAL CURRENCY RESET NOT JUST ABOUT THE 2,000 PEOPLE IN HERE HARD TO BELIEVE LOL
Hartlady: This is about 209 countries and the world is at stake here.. all those held in bondage for more years than any of us here have been alive. It is about freeing humanity
SunniDaze: REMEMBER KUWAIT…. THE NIGHT BEFORE THEY SAID FIVE YEARS
SunnysPlace: SUNNI, YOU ARE ABSOLUTELY CORRECT. LOOK WHAT HAPPENED IN KUWAIT...THEY SAID IT WASNT GOING TO HAPPEN, AND, THE NEXT DAY....WHAMMMM !!! There is was.
BigRich: If it has indeed stopped the reality of the crashing bond market will set fire to their a$$es in very short order
Skysister23: The derivatives have to be gone first, so as long as they keep propping up the market we wait until the bond market implodes. Then we go so we rehydrate coffers.
SunnysPlace: ROCKER, IS THERE ANYTHNG YOU CAN ADD TO ADMINS INFO?????
Rocker66: there is no let down news
AdminBill: I AM NOT DISCOURAGED BY THE LATEST INFO. WE ALL KNOW, AS DOES THE PROVIDER OF THAT TIDBIT THAT THIS WILL REMAIN FLUID UNTIL IT HAPPENS. MY OTHER SOURCES HAVE NOT HEARD THE SAME THING AND PERHAPS THEY WON'T. WE WILL CONTINUE TO SHARE WHAT WE HEAR. MY TIME FRAME REMAINS THE SAME.
AdminBill: JUST IN UPDATE - REPORTED THAT PROCESS WAS STOPPED LATE LAST NIGHT. REASON NOT GIVEN……. NO NEW INFO APART FROM THAT…. REMEMBER THAT ONE SOURCE IS ONLY ONE SOURCE
SunniDaze: WATCH THE MARKETS THEY ARE UNWINDING THE DERIVATIVES
SunnysPlace: PLEASE, DONT BE TOO DISCOURAGED, OUR TIME IS CMING, AND IT WILL BE VERY SOON...
Sparke: i've heard we're next in line so no worries
SunniDaze: REMEMBER GLOBAL CURRENCY RESET NOT JUST ABOUT THE 2,000 PEOPLE IN HERE HARD TO BELIEVE LOL
Hartlady: This is about 209 countries and the world is at stake here.. all those held in bondage for more years than any of us here have been alive. It is about freeing humanity
SunniDaze: REMEMBER KUWAIT…. THE NIGHT BEFORE THEY SAID FIVE YEARS
SunnysPlace: SUNNI, YOU ARE ABSOLUTELY CORRECT. LOOK WHAT HAPPENED IN KUWAIT...THEY SAID IT WASNT GOING TO HAPPEN, AND, THE NEXT DAY....WHAMMMM !!! There is was.
BigRich: If it has indeed stopped the reality of the crashing bond market will set fire to their a$$es in very short order
Skysister23: The derivatives have to be gone first, so as long as they keep propping up the market we wait until the bond market implodes. Then we go so we rehydrate coffers.
SunnysPlace: ROCKER, IS THERE ANYTHNG YOU CAN ADD TO ADMINS INFO?????
Rocker66: there is no let down news
AdminBill: I AM NOT DISCOURAGED BY THE LATEST INFO. WE ALL KNOW, AS DOES THE PROVIDER OF THAT TIDBIT THAT THIS WILL REMAIN FLUID UNTIL IT HAPPENS. MY OTHER SOURCES HAVE NOT HEARD THE SAME THING AND PERHAPS THEY WON'T. WE WILL CONTINUE TO SHARE WHAT WE HEAR. MY TIME FRAME REMAINS THE SAME.
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