ECONOMIC EXPANSION

WORLDWATCH VORACIOUS APPETITE FOR COMMODITY NEWS

 

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    written by ABSTRACTMIND @ 3:21 pm, ,

    CORRUPTION CONTINUES !!!

    News report from the WorldWatch agency confirms that crude consumption in Europe continues to decline as economies are in recession, this is especially the case in Portugal were demand for petrol will decline more that the average estimated for the rest of Europe.The reason for the decline is due to government excessive fuel tax and the corruption by the oil companies GALP,BP,REPSOL,CEPSA. These companies last week increased final consumer prices by 5% with no reason except greed..
    The international crude situation is now at a 2005 level however the final consumer prices in Portugal have in a matter of days increased up to six cents per litre ... This increase is approved by the government as the more the oil companies charge to the motorist the more revenue the government has. The referred petrol companies are allowed to have a monopoly were prices are combined and applied to the motorist ...if one increases the final consumer price the others follow with the same amount or more.... Oil prices have fallen about 67% in four months, plunging from a record $147.27 in mid-July 2008... Price fixation is prohibited in the ECC but for some reason the European Parlament prefers to ignore the situation and continue to favour the cartel of oil companies... The trucker drivers assosiation last week presented a motion to the ECC Parlament urging measures to be taken against the Price fixation by the oil companies ...Demand for crude will continue to fall in Portugal as the recession deepens and unemployment continues to rise beyond the 8% mark ... in the end the people have a choice... Its time for the Portuguese population to choose a new government, one that will work for the people and not for the oil companies...
    PORTUGAL CONTINUES TO HAVE ONE OF THE MOST EXPENSIVE OIL (GASOLINE) FINAL CONSUMER PRICE IN EUROPE....

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    written by ABSTRACTMIND @ 3:11 pm, ,

    The Hudson River Crash !!!

    The truth America wants to hide...FLIGHT 1549...


    ...FLIGHT 1549...

    written by ABSTRACTMIND @ 1:48 pm, ,

    BRITISH BANKING CRASH ...

    Royal Bank of Scotland Group Plc slumped by the most in two decades in London trading on concern the government may have to take full control of the bank after forecasting the biggest loss ever reported by a U.K. company. The stock dropped 67 percent, the most since September 1988, to 11.6 pence, paring the Edinburgh-based lender's market value to 4.6 billion pounds ($6.7 billion).
    RBS said it may post a loss of as much as 28 billion pounds this year, surpassing Vodafone Group Plc's 22 billion- pound net loss in 2006. The government offered to exchange its preference shares in the bank for ordinary stock, a move that could increase its stake to 70 percent from 58 percent. Analysts speculated today the government may eventually take full control of the 282-year-old Scottish lender.

    RBS has been crippled by former Chief Executive Officer Fred Goodwin's 14.3 billion-euro ($19 billion) acquisition of ABN Amro Holding NV's investment banking assets three months before the credit crisis began. Goodwin was ousted in October. The numbers are truly horrible, the British government is very clearly in the driving seat, and I would expect RBS to shrink back to being a more U.K.-focused bank.

    RBS said it expects to post 8 billion pounds of credit market writedowns for the full year, boosted by losses on U.S. collateralized debt obligations. Credit impairment losses may total as much as a further 7 billion pounds, including a 1 billion-pound loss on its loan to bankrupt chemical maker Lyondell Chemical Co. RBS issued its statement on the same day that the Bank of England announced measures worth an additional 100 billion pounds to help banks access liquidity and boost lending. The package is on top of the 250 billion pounds Brown pledged in October.

    We have a clear view that British banks like so many other entities are on the way down, some will even declare bankruptcy ... the next to face serious problems are Lloyds, the U.K.'s biggest mortgage lender !!! Lloyds are resisting for as long as they can, but I suspect in due course they will be majority government-owned due to rising bad debts on the back of a deterioration in the U.K. economy....

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    written by ABSTRACTMIND @ 2:46 pm, ,

    Breaking News !!


    According to WorldWatch the petrol consumption in Europe continues to decline as most economies are now in recession, this is especially the case with Portugal were demand for petrol will decline more that the average estimated for the rest of Europe. The apparent reason for the decline is due to government excessive fuel tax and the corruption by the oil companies Galp,BP,Repsol and Cepsa. The international crude situation is now at a 2005 level however the final consumer prices in Portugal have in a matter of days increased up to six cents per litre ... This increase is approved by the government as the more the oil companies charge to the motorist the more revenue the government has. The referred petrol companies are allowed to have a monopoly were prices are combined and applied to the motorist ...if one increases the final consumer price the others follow with the same amount or more.... Price fixation is prohibited in the ECC but for some reason the European Parlament prefers to ignore the situation and continue to favour the cartel of oil companies... Demand for crude will continue to fall in Portugal as the recession deepens and unemployment continues to rise ... in the end the people have a choice... Its time for the Portuguese population to choose a new government, one that will work for the people and not for the oil companies...

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    written by ABSTRACTMIND @ 2:01 pm, ,

    CORRUPTION IN EUROPE !!!

    Oil prices slipped below $38 a barrel Monday (12-01-2009) as investors grappled with the prospect that global growth will slow more than originally feared, cutting demand for gasoline crude products. Oil prices have fallen about 67% in four months, plunging from a record $147.27 in mid-July 2008. However this decrease in crude prices does not affect one of Europe’s oldest economies...Portugal...were prices continue to be one of the highest in the world, even now as crude prices are at a three-year low Portugal continues to have final consumer prices one of the highest in the world...Oil consumption in Portugal last year dropped more than 14% and all tendencies indicate that it will continue!!! Today final consumer prices have once more increased by two cents per liter !!! this dishonest attitude is lead by the so called national oil company Galp Energia...there is no reason for the increase except greed, the Portuguese Government is also involved in this apparent corruption scheme as the more the companies charge the more taxes the government obtains... This scheme is called "Robin Hood Tax" the more you charge the more Tax I (government) have... As is also tradition one company increases all others follow behind , the prices are also certainly combined between all involved... This arrogant attitude by the oil companies (GALP,BP,REPSOL,CEPSA) and government will not be forgotten as Portugal will shortly enter a period of elections for a new government, the population will certainly have the opportunity to elect a new government that will work for the people and not for the oil industry..

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    written by ABSTRACTMIND @ 6:13 am, ,

    CORRUPTION IN PORTUGAL


    BEWARE...THE BIGGEST HIGHWAY ROBBERS ARE BASED IN PORTUGAL...THEY ARE GALP...BP...REPSOL...READ HERE TOMOROW A REPORT ON THE GASOLINE CORRUPTION IN PORTUGAL !!!

    written by ABSTRACTMIND @ 11:45 am, ,

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    written by ABSTRACTMIND @ 2:49 pm, ,

    WorldWatch News..

    Once more SPECULATION is on the move, now we have Traders, energy economist and OPEC Oil Minister trying to force the crude prices up... The steepest plunge in crude prices on record is not over, Commodities prices last year fell the most in five decades as crude dropped more than $115 from the peak of $147.27 in July. OPEC is determined to inflate crude prices, Saudi Oil Minister Ali al-Naimi said Dec. 21 in London, and Saudi Arabia’s King Abdullah said in November that $75 was a fair price. That month his nation cut output by 3.2 percent, the most since April 2006..
    This will have a reverse effect on the crude prices as the world economy sinks further and demand will no doubt continue to fall, the so-called forward curve of futures suggests crude prices will fall 27 percent in the first quarter of 2009, the steepest drop in seven years...
    The world economy will get into a more stable environment most probably in the second half of next year.. Crude for February delivery traded at $46.89 a barrel at 9:50 a.m. in London today, compared with $60.10 for the December 2009 contract.
    The U.S. economy will shrink 2.4 percent this quarter while Europe will shrink 1.8 percent according to economists surveyed by WorldWatch. Oil tumbled almost $115 a barrel from its July record. however there are some Countries that continue to practice inflated final consumer prices, one example is Portugal were energy prices are one of the most expensive in Europe...

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    written by ABSTRACTMIND @ 2:11 pm, ,


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