ECONOMIC EXPANSION

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    WorldWatch estimates


    During 2013 Portugal will remain in recession due to the degrading political policies of the government, as the new year looms closer the increases have been announced ... 
    This way the government and the Bank of Portugal predicts that inflation will be lower than in 2012 which is 2.8% ... 

    WorldWatch estimates that inflation will rise next year, there will be many goods and services whose price will increase further, 

     1 - Electricity 2.8% 
     2 - Cooking / heating Gas 2.5% 
     3 - Petrol 1% 
     4 - Communications 3% 
     5 - Public transport 2.8% (In  two years the increase was 24.5%) 
     6 - Tolls on motorways and former SCUT will increase 2.03% 
     7 - Tobacco 
     8 - Soft drinks 
     9 - Wine / beer 
    10 - Rent 3.4% 
    11 - Medical care 2.8% 

    These are just some of the increases announced, inflation will continues to increase and no speculation by the government and other agencies can decrease inflation.
    In the first quarter of 2013 consumer demand is predicted to fall by 14%! 
    Unemployment will continue, social unrest will aggravate,. consumer demand will decrease in particular for petrol, Portugal has one of the most expensive consumer prices, rated at € 1,614 per liter for regular 95 Octane, these prices are practiced by all companies Involved ... 

    Galp 
    BP 
    Repsol 
    Cepsa 

    Everything is Taxed in Portugal, according to WorldWatch each person needs seven months to work just to pay Taxes. 
    What Portugal needs are well structured measures in order to lift the economy and make the country competitive and productive. 

    written by ABSTRACTMIND @ 12:15 pm, ,

    Non-OPEC Supply

    Next year’s growth in demand will be met by new supply from outside OPEC, according to WorldWatch., which forecasts that Brent will slip to average $98 a barrel next year, the third- lowest of the 30 predictions tracked by WorldWatch.
    Risks are overwhelmingly to the downside,  current prices are high enough to act as a break on economic expansion.
    About 60 percent of the 900,000 barrel-a-day increase in non-OPEC supply in 2013 will come from North America, WorldWatch estimates, as hydraulic fracturing, or fracking, allow the extraction of shale oil from rock formations in North Dakota, Oklahoma and Texas.
    The boom in U.S. production has triggered a 7.7 percent drop this year in West Texas Intermediate crude, the nation’s benchmark grade. WTI has averaged $17.46 a barrel less than Brent this year, a record discount in annual terms, as new output floods into tanks at the U.S. storage hub in Cushing, Oklahoma. The price difference was $19.90 today.

    written by ABSTRACTMIND @ 7:38 am, ,

    Brent below $100 a barrel.

    Brent crude is poised to trade below $100 a barrel for the first time in over two years for 2013, oil will average $97 next year, according to the median of 30 forecasts compiled by WorldWatch, compared with about $111.68 a barrel so far in 2012. 
    Risks are skewed to the upside, related to still-high risks of escalation or confrontation over Iran and deterioration in Syria, the biggest possible surprise for markets could be stronger-than-expected oil-demand growth.
    If prices rise they will pose a barrier to a recovery in the global economy amid Europe’s sovereign debt crisis, U.S. budget disputes and signs of slowing growth in Asia. Record revenue for oil producers helped ensure supply stability this year, encouraging Saudi Arabia to pump at its highest rate in three decades, while financing shale projects in the U.S. that fostered the nation’s biggest production increase in 50 years.
    Global oil demand will not expand  next year from the 89.5 million barrels a day (2012 figures), versus growth of 0.9 percent in 2012.
    OPEC decided on Dec. 12 to leave its official production target unchanged. The group is expected to earn more than $1 trillion in export revenue this year, according to the U.S. Energy Department.

    written by ABSTRACTMIND @ 7:32 am, ,


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