``Those of you who have money abroad, bring some home, let's ally ourselves, let's elevate production as much as we can,''
After squeezing the private sector for almost a decade with nationalizations and foreign exchange controls, Chavez is holding out the lure of lower taxes and $1 billion of loans to spark growth and combat spiraling inflation that only ramped up production can solve.
Investment fell for the first time in four years in the first quarter and state spending, the driving force behind four and a half years of economic expansion, is showing diminishing returns as output growth lags behind a boom in oil-fueled consumptionn.
The vocabulary the government has used over the past two years, above all the president, includes expropriation, confiscation, and it isn't well-received by the private sector, there's less investment, this means less supply, and that's going to keep driving up prices in Venezuela.
written by ABSTRACTMIND @ 12:27 pm, ,
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written by ABSTRACTMIND @ 10:14 am, ,
SPECULATION once more showing its ugly head and forcing crude oil to rise more than $5 to a record on concerns that Israel may be preparing to attack Iran, while a strike in Brazil and renewed militant activity in Nigeria threaten to cut supplies.
Oil rallied to a record high of $147.27 a barrel in New York after the Jerusalem Post said Israeli war planes practiced over Iraq, adding to speculation the country is preparing to attack Iran. A Brazilian union said it plans a five-day strike on platforms that pump 80 percent of the country's crude and Nigerian militants pledged to renew attacks on oil facilities.
We are now in uncharted territory here with the Iranian situation, Iran is showing its completly crazy following this path and this is causing that people are just too scared to sell.
Crude oil for August delivery rose as much as $5.25, or 3.7 percent, to an all-time high of $147.27 a barrel on the New York Mercantile Exchange...
Israeli war planes are conducting maneuvers in Iraqi airspace and using U.S. airbases in the country, possibly practicing for a strike against Iran, the newspaper reported, citing comments by Iraqi officials in local media. Israeli government spokesman Mark Regev denied the report.
written by ABSTRACTMIND @ 9:57 am, ,
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written by ABSTRACTMIND @ 3:36 pm, ,
Once more speculation by
``The Zionist regime is pressuring White House leaders to prepare a military aggression against Iran,'' the state-run Fars News agency today cited Ali Shirazi, Khamenei's representative in the Revolutionary Guards navy division, as saying.
``If they resort to such a silly undertaking Tel Aviv and the U.S. fleet in the Persian Gulf will be the first targets to go on fire with Iran's crushing response,'' Shirazi told military personnel, according to the newswire. Who is being silly ????
Tensions over the Iranian dispute increased, helping push the price of oil to a record, after the New York Times said Israeli military maneuvers in the eastern Mediterranean last month were practice for a possible strike on
written by ABSTRACTMIND @ 3:31 pm, ,
An Exciting Caravan Holiday in Devon
So Caravan Park Devon is a perfect place to for summer holiday.
It is a park and it has a beach located only half a mile away. Its the closest park to the Goodrington Sands that contains a beautiful Beach, Quay West Water Park, Family Pub, Go Karts, Water Sports, a Cliff Walk and Young's Park. You can spend one whole day near the beautiful beach and playing in the Quay West Water Park, as well as the next day having a light walk near the Cliff to capture the perfect scenary.
If you like animal, there is a Paignton Zoo, which located short distance away from the Park that you might be interested in.
It has been a really long time since i last visited any water park for a short break, perhaps, the Caravan Park Devon holiday package could cheer up my day during this hot summer! So this will be my next holiday spot….join me..
written by ABSTRACTMIND @ 2:15 pm, ,
Oil dropped for the first session in four as Foreign Minister Manouchehr Mottaki told CNN yesterday that talks are ``in a new environment'' and ``new approaches'' are possible. The dollar rose to its highest against the euro in more than a week as G-8 leaders are expected to signal support for the currency.
Crude oil for August delivery fell $3.87, or 2.7 percent, to $141.42 a barrel at 10:07 a.m. on the New York Mercantile Exchange.
Oil reached a record $145.85 on July 3 on speculation any attack on Iran may disrupt exports from Iran, OPEC's second- biggest producer.
``Obviously, there's some selling pressure here, some profit taking going on....
The fewest Americans in three years likely traveled over the July 4th weekend as record gasoline prices and a slowing economy forced consumers to curtail spending, according to AAA, the largest U.S. motoring group. The number of people taking trips of at least 50 miles (80 kilometers) from home over the holiday weekend will fall 1.3 percent to 40.5 million, AAA said.
Regular gasoline at the pump, averaged nationwide, rose 0.1 cent to a record $4.108 a gallon...
Leaders from Canada, France, Germany, Italy, Japan, Russia, the U.K. and the U.S. are meeting in Japan for three days. President George W. Bush said at a news conference in Japan yesterday that ``the U.S. believes in a strong-dollar policy.''
Brent crude oil for August settlement fell $2.23, or 1.5 percent, to $142.19 a barrel on London's ICE Futures Europe exchange. Futures climbed to a record $146.69 on July 3.
written by ABSTRACTMIND @ 2:11 pm, ,
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written by ABSTRACTMIND @ 2:56 pm, ,
Several miles from Beverly Center, at the foot of a street of million-dollar homes, a six-story, windowless structure houses a Plains well.
Noise from the well site increased this year as oil prices rose, as it started humming 24 hours a day...
The only hint of production at Los Angeles's Rancho Park municipal golf courrse is noise coming from a row of shrubs along the fourth fairway.
The oil well here is out of the way, there are no homes nearby and they've made an effort to hide it, it doesn't smell, and from the green, you can't hear it.
written by ABSTRACTMIND @ 2:47 pm, ,
Sales at Ssangyong Motor Co. the South Korean unit of China's biggest automaker, sank 32 percent last month as domestic customers shunned its sport-utility vehicles.
Brent crude for August delivery climbed as much as $1.49, or 1 percent, to a record $145.75 a barrel on London's ICE Futures Europe exchange. It was at $145.40 at 3:09 p.m. Singapore time.
U.S. gasoline inventoriies rose 2.1 million barrels to 210.9 million and supplies of distillate fuel, including heating oil and diesel, increased 1.3 million barrels to 120.7 million barrels, the Energy Department said in its report today.
written by ABSTRACTMIND @ 2:44 pm, ,
You see, my sister has always wanted to enter a beauty school but she couldn't find cosmetology school near her that is as good as Regency. The part my sister likes with Regency is that as part of their training, students provide high-quality, discounted salon services to the public under expert faculty supervision to which my sister believes is a good hands on learning experience. Aside from that, Regency graduates are recognized and sought after throughout the United States so she will gladly be one of them soon.
written by ABSTRACTMIND @ 2:26 pm, ,
``I have said that oil prices will reach $150 a barrel,'' Medvedev said in a meeting with reporters late yesterday in Moscow ahead of his participation in a summit of the Group of Eight industrial countries in Japan next week. ``Unfortunately, rising oil prices create problems for the world's economy.'' ...how smart can these politicians be !!!
The surge in prices of diesel, jet fuel and gasoline has cut profits at airlines and caused car sales to drop. Southeast Asian nations including India, Malaysia and Indonesia raised fuel prices in the past two months to cap government subsidies as oil costs jumped.
written by ABSTRACTMIND @ 12:21 pm, ,
One small detail....OPEC is also involved in SPECULATION .... very much involved!!!
Economists are forecasting the ECB will raise its 4 percent benchmark rate by a quarter percentage point today, weakening the dollar and spurring commodity buying as an inflation hedge. Investors are purchasing oil, which has doubled this past year, as U.S. equities slump, with the Standard & Poor's 500 Indeex falling yesterday to its lowest level in two years.
In this market, breaking the $145 level will be important and all speculators see crude reaching $150 within two days..
Crude oil for August delivery climbed as much as $1, or 0.7 percent, to $144.57 a barrel in after-hours electronic trading on the New York Mercantile Exchange, the highest since trading began in 1983. It was at $144.45 at 3:07 p.m. in Singapore.
Surging oil prices are starting to slow growth in some emerging economies. The Philippine central bank said inflation will probably accelerate to 10 percent or higher this year. Economists are forecasting Indonesia will raise interest rates after prices gained 11 percent last month.
U.S. oil suppliees dropped 1.98 million barrels to 299.8 million last week, the Energy Department said yesterday. Analysts assumed a gain of 500,000 barrels.
written by ABSTRACTMIND @ 12:18 pm, ,