The final countdown..

Oil prices are about to reach a  new record in one of Europe’s oldest economies PORTUGAL ... Every week final consumer prices increase, PORTUGAL has one of the worlds most expensive final consumer oil price...and who MUST we blame...(SMILE..YOU ARE BEING ROBBED)

RECESSION PORTUGAL

During 2013 Portugal will remain in recession due to degrading political policies of the government, as the end of the first  month of the new year looms closer the increases continue to be  announced ...
Tolls on motorways and former SCUT are going to be increased.
Petrol for the average motorist has once more increased by 2 cents per litre, this will be the third increase this year, Portugal will continue with one of the most expensive final consumer prices for petrol in the world,rated at € 1,644 per litre for regular 95 Octane, these prices are practised by all companies Involved ...

Galp
BP
Repsol
Cepsa

WorldWatch estimates that inflation will rise this year, there will be many goods and services whose price will increase further,
WorldWatch predicts that In the first quarter of 2013 consumer demand will fall by 14%!
Unemployment will continue, social unrest will aggravate,. consumer demand will decrease in particular for petrol.

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.

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. 

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.

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.

Austerity Measures in Portugal

The austerity measures in Portugal one of Europe's poor economies continues to affect the population, as its debt rise higher into 2013, the tough bailout agreement is enforced by the so-called troika the European Commission, the European Central Bank and the I.M.F.
Portugal is now about to enter a period of social unrest.. the austerity measures are unleashing rage and chaos in Portugal

 - Hospitals are closing.
- State benefits, public wages and pensions are being cut.
- New taxes have been added, and old taxes increased.
- The economy is shrinking.
 - The ratio of Portugal’s debt to its overall economy, or gross domestic product is 118.6 percent.
Officially, unemployment is at 17.9 percent, and more than 42 percent of the country’s young people are out of work.
According to WorldWatch the government is under estimating the true jobless rate, especially for youths.
- Opposition leaders and trade unions have called for general strikes.
- The government’s budget deficit remains un-controlled.
- Portugal’s economy shrank by 1.5 percent in 2011 and is expected to contract more than 3 percent in 2012.
- Cost of education has doubled, university fees are one of the highest in the world.
 - Health care costs have more than tripled in the past year, pharmacies have closed, certain medicine are now non-existent.
 - Energy prices for electricity and gas, water are one of the highest in the world.
Electricity prices for next year have been announced, there will be a 2.8% increase for consumers, the reason given is that the demand has fallen!!!

 
- Petrol prices for the average motorists are the highest in the world, there is a price fixing between the petrol companies Galp, BP, Repsol and Cepsa, they all practice the same consumer price, a litre of regular 95 Octane is now a staggering 1,780 €.
These petrol companies with the support of the government increase the prices on a weekly basis using every pretext to do so.
- The (ISP) (called the Robin Hood Tax) a tax that petrol companies pay will also increase in January 2013 ,1,10€ for each thousand litres of regular octane and 2€ for each thousand litres of diesel, this increase will be passed to the consumer.
This month alone prices at the pump have increased by 5 cents per litter, this alone will further reduce the buying capacity of the population as money becomes a luxury commodity.
Petrol consumption this year has decreased by more than 15% and all indications show it will continue do so.

- Almost every activity in Portugal is Taxed
- VAT has increased in all areas in special the supermarket prices have seen the vat rise to 23%.
- The wages are taxed by 23.5% and now to aggravate the situation there is a solidarity 4% Tax making a total of 28.5% of the salary going to the Government. (see table)
There are now five Tax scales to the previous 8.

NEW IRS TABLE

Until 7.000€ - 14,5%

Between 7.000 and 20.000 - 28,5%

Between 20.000 and 40.000 - 37%

Between 40.000 and 80.000 - 45%

More than 80.000 - 48%

2012 IRS TABLE

Until 4.898€ - 11,5%

Between 4.898 and 7.410€ - 14%

Between 7.410 and 18.375€ - 24,5%

Between 18.375 and 42.259€ - 35,5%

Between 42.259 and 61.244€ - 38%

Between 61.244 and 66.045€ - 41,5%

Between 66.045 and 153.300€ - 43,5%

More than 153.300€ - 46,5%

PORTUGAL IS NOW A WORLD LEADER IN BAD TAX REFORMS , NO NATION CAN COMPETE OR SURVIVE WITH TAXES THIS HIGH.

(WILL CONTINUE)

WORLD PETROL PRICES.

Price.....Country.............Pain Rank
$10.12...Norway......................#52
$9.41....Turkey........................#7
$9.28....Israel..........................#31
$8.61....Hong Kong.................#35
$8.26....Netherlands...............#41
$8.20....Denmark...................#47
$8.15....Italy............................#34
$8.14....Sweden......................#48
$7.92....Greece.......................#26
$7.87....United Kingdom.........#37
$7.79....France.......................#39
$7.77....Belgium.....................#42
$7.74....Germany....................#40
$7.72....Portugal.....................#23
$7.66....Switzerland................#53
$7.59....Finland.......................#45
$7.34....Ireland........................#44
$7.15....Japan.........................#46
$7.12....South Korea..............#30
$6.93....Slovakia.....................#21
$6.92....Brazil..........................#13
$6.79....Hungary.....................#15
$6.60....Malta..........................#27
$6.57....Slovenia.....................#32
$6.55....New Zealand............#43
$6.49....Austria.......................#49
$6.47....Spain.........................#36
$6.46....Czech Republic.........#25
$6.41....Australia.....................#54
$6.38....Luxembourg..............#56
$6.32....Lithuania....................#18
$6.15....Poland.......................#19
$6.13....Chile...........................#22
$6.12....Bulgaria......................#6
$6.08....Latvia.........................#17
$6.08....Singapore...................#50
$5.96....Colombia....................#10
$5.86....Cyprus.......................#38
$5.82....Argentina....................#16
$5.80....Estonia......................#24
$5.71....Romania....................#11
$5.46....Canada......................#51
$5.44....India...........................#1
$5.30....South Africa...............#12
$4.89....China..........................#8
$4.51....Thailand.....................#9
$4.42....Philippines.................#3
$3.85....Indonesia...................#5
$3.75....Russia.......................#33
$3.75....United States.............#55
$3.55....Pakistan.......................#2
$3.24....Mexico........................#29
$3.23....Malaysia.....................#28
$2.80....Iran.............................#20
$2.32....Nigeria........................#4
$1.89....United Arab Emirates..#57
$1.73....Egypt..........................#14
$0.89....Kuwait........................#59
$0.61....Saudi Arabia..............#58
$0.09....Venezuela..................#60