Keyword: venezuela

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  • Saudi Arabia: We'll never cut oil production {OPEC really dead?}

    12/22/2014 5:28:28 AM PST · by thackney · 40 replies
    CNN Money ^ | December 22, 2014 | John Defterios
    In an exclusive interview with CNN, Saudi oil minister Ali al-Naimi also said he wasn't conspiring to take out rival producers by driving down the price. "These rumors or whoever generated them, is completely mistaken," he said. U.S. crude prices have slumped by nearly 50% in six months, the sharpest fall for many years. That has unsettled stock markets, accelerated a financial crisis in Russia, raised the risk that Venezuela will default and forced some U.S. producers to shed jobs and scale back investment. Depending on which conspiracy theory you subscribe to, Saudi Arabia is waging an oil price war...
  • The week the dam broke in Russia and ended Putin's dreams

    12/22/2014 4:39:46 AM PST · by elhombrelibre · 33 replies
    The Telegraph ^ | 20 Dec 14 | Ambrose Evans-Pritchard
    Gallows humour is back in Moscow. Asked what he would do to stop the rouble spiralling out of control, the former governor of Russia’s central bank replied: “I would pick up a pistol and shoot myself.” This was the week when the country’s long-festering crisis turned virulent. A last-ditch attempt to defend the exchange rate by raising interest rates to 17pc failed within hours, yet the shock is surely enough to set off a chain of corporate failures and push banks over the edge. Traders in the City watched open-mouthed as the dam broke on Black Tuesday. The event exposed...
  • Obama to Castro: Here I Come to Save the Day!

    12/20/2014 5:45:53 AM PST · by Kaslin · 34 replies
    Townhall.com ^ | December 19, 2014 | Humberto Fontova
    Did you notice the timing of President Obama’s economic lifeline to Castro as announced on December 17th under the guise of “changing our relations” with the people (emphasis mine) of Cuba?” No? But you have noticed the price at the gas pumps, right? These two items are closely related ….Oh and by the way, every atom of evidence shows that the actual people of Cuba actually want U.S. sanctions against the Stalinist regime that tortures them tightened. So perhaps President Obama should stop insulting the intelligence of Cuba-watchers by claiming to speak and act on their behalf. Here’s their reaction...
  • State Dept: U.S. Nukes Down 85%, From 31,255 to 4,804

    12/19/2014 8:18:55 AM PST · by Obama_Is_Sabotaging_America · 96 replies
    The Weekly Standard ^ | December 19, 2014 | JERYL BIER
    'We Still Have More Work To Do'' The State Department's Rose Gottemoeller, under secretary for arms control and international security, spoke at the Brookings Institution Thursday where she reaffirmed the United States' "unassailable" commitment to putting the nuclear weapons genie back in the bottle. Gottemoeller told the attendees at the Arms Control and Non-Proliferation Initiative-sponsored event that "the U.S. commitment to achieving the peace and security of a world without nuclear weapons is unassailable." She went on to note that the nation's stockpile of active weapons is down 85 percent from maximum cold war levels, falling to 4,804 in 2013...
  • OBAMAS MOVE TO STRENGTHEN CUBA WILL ALSO HELP RUSSIA, IRAN, NORTH KOREA AND VENEZUELA

    12/18/2014 11:32:52 AM PST · by smoothsailing · 24 replies
    Power Line ^ | 12-18-2014 | John Hinderaker
    December 18, 2014 OBAMA’S MOVE TO STRENGTHEN CUBA WILL ALSO HELP RUSSIA, IRAN, NORTH KOREA AND VENEZUELA by John Hinderaker President Obama has chosen an odd time to begin a diplomatic and economic relationship with Cuba that undoubtedly will strengthen Cuba’s economy and thereby, in all probability, prolong the rule of the Castro brothers and make it more likely that they will be succeeded by another generation of Communist tyrants. In recent years, Cuba has aligned itself militarily with an international rogues’ gallery: Venezuela, of course, but also Russia, Iran and North Korea. As we noted here, Havana hosted a...
  • The West Should Not Let Russia Fall Apart

    12/19/2014 3:23:15 AM PST · by edpc · 14 replies
    Fortune ^ | 18 Dec 2014 | Cyrus Sinati
    The West shouldnt stoke the fires engulfing Russias wounded economy. Talk in Washington and Brussels this week of levying further economic sanctions on Russia seems counterproductive and will only make matters worse for all parties involved. Like it or not, Russias economy has grown simply too big to fail, and its political and military might is too dangerous to ignore. The West might have better luck in advancing its goals in the region by helping, not hurting, the Russian bear in its time of need.
  • Like Iran, secret diplomacy leads to US-Cuba thaw

    12/17/2014 7:43:11 PM PST · by Olog-hai · 6 replies
    Associated Press ^ | Dec 17, 2014 5:40 PM EST | Bradley Klapper and Matthew Lee
    Fresh off his 2012 re-election victory, President Barack Obama summoned senior advisers to a series of meetings, asking them to think big about a second-term agenda, including the possibilities of new starts with long-standing U.S. foes such as Iran and Cuba. Two years later, after painstaking secret diplomacy on separate but surprisingly similar tracks, efforts with Tehran and Havana are in full swing. The nuclear negotiations with Iran continue and are far from a guaranteed success. But Wednesdays announcement that the U.S. and Cuba will normalize relations after more than 50 years of hostility suggests one of the last chapters...
  • First Russia, then Iran, now Cuba: One More Very Bad Deal Brokered by the Obama Administration

    12/17/2014 11:42:28 PM PST · by WhiskeyX · 2 replies
    Sen. Ted Cruz ^ | December 17, 2014 | Sen. Ted Cruz
    WASHINGTON, DC -- U.S. Sen. Ted Cruz, R-Texas, today released the following statement regarding the Presidents announcement to change U.S. policy with Cuba and lift economic embargos. We rejoice that Alan Gross wrongful imprisonment by the brutal Castro regime has finally come to an end, and that he will be able to spend the holidays with his loved ones. But make no mistake, although we are glad Alan is now free, the agreement the Obama Administration has entered into with the Castro regime has done nothing to resolve the underlying problem. Indeed, it has made it worse. Fidel and Raul...
  • On Cuba, Obama Had An Ace, And Played A Deuce

    12/18/2014 3:50:48 PM PST · by jazusamo · 24 replies
    Investors.com ^ | December 18, 2014 | IBD Editorial
    Diplomacy: As the Castros rejoice at President Obama's move to normalize ties, extend trade credits, take their country off the terror list and free its deadly spies, the queasy question remains: What did the U.S. get in return? The question is being asked by the more serious leaders in Washington. Marco Rubio for one. "(Obama's) foreign policy is, at a minimum, naive and perhaps truly counterproductive to the future of democracy in the region," said the Florida senator in the wake of the giveaway. "Barack Obama is the worst negotiator that we've had as president since at least Jimmy Carter,...
  • Exxon Mobil Shows Rising U.S. Output as Prices Fall

    12/18/2014 1:16:24 PM PST · by Up Yours Marxists · 29 replies
    Salt Lake Tribune ^ | December 18, 2014 14:15 GMT | Joe Carroll (Bloomberg News)
    Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment costs and enhanced drilling techniques more than offset the collapse in oil markets, said Troy Eckard, whose Eckard Global owns stakes in more than 260 North Dakota shale wells. Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields, which means extracting...
  • Russian ruble weakens as traders see no major measures in Putin speech

    12/18/2014 4:29:48 AM PST · by elhombrelibre · 20 replies
    Reuters ^ | Alexander Winning and Vladimir Abramov
    The ruble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at his end-of-year news conference. At 0954 GMT (04:54 a.m. EST), the ruble was around 3 percent weaker against the dollar at 62.04 RUBUTSTN=MCX after opening more than 1 percent higher. The rouble was also around 2 percent weaker versus the euro at 76.50 EURRUBTN=MCX on the Moscow Exchange.
  • Venezuelan President Calls American Oil Fracking Act of Aggression [satire]

    12/18/2014 9:28:35 AM PST · by John Semmens · 7 replies
    Semi-News/Semi-Satire ^ | 13 Dec 2014 | John Semmens
    With his countrys economy on the ropes due to declining oil prices, Venezuelan President Nicolas Maduro blamed the United States oil fracking industry. It is an act of aggression against my country and a crime against humanity, Maduro maintained. Venezuela needs high oil prices to support our programs to feed our people. These frackers are destroying our ability to feed ourselves. While most economists see falling fuel prices as beneficial for the vast majority of consumers, Maduro complained that most of the beneficiaries are rich, white Americans. Saving them money at our cost is a direct attack on my governments...
  • Cuba Libre?

    12/18/2014 8:48:15 AM PST · by Kaslin · 24 replies
    Townhall.com ^ | December 18, 2014 | D.W. Wilbur
    So who benefits the most from this new relationship between the United States and Cuba? Aficionados will soon be able to smoke fine Cuban cigars without having to smuggle them into the U.S., but beyond that what exactly has the U.S. gained by Barack Obamas diplomatic overture towards the brutal communist dictatorship in Havana? The Caribbean island has been locked in the 1950s for decades as the rest of the world moved into the twenty-first century. But while trapped in the past Cuba has certainly been involved over the years in current events, and usually not in a particularly positive...
  • Marco Rubio Goes Full Nutjob on Cuba Announcement [Zot!]

    12/18/2014 9:14:32 AM PST · by LibertarianTreehugger · 193 replies
    Liberty Briefing ^ | 12/18/2014 | Jeff Siegel
    On the rare occasion I find myself in agreement with President Obama, I get nervous. It just feels like a setup. Like someone's going to pull the rug out from under me at any moment. But right now, I have to admit, I was very pleased to hear the news that the U.S. and Cuba are moving to normalize relations.
  • Yes, Venezuela could collapse if oil keeps dropping

    12/17/2014 6:44:33 AM PST · by SeekAndFind · 43 replies
    American Thinker ^ | 12/17/2014 | Silvio Canto Jr.
    The drop in gasoline prices is a wonderful Christmas present for U.S. consumers.  It's great up here, but keep an eye on Venezuela.  The country could collapse if prices keep dropping. TIME magazine has a good summary about the mess in Caracas: The economic dysfunction and falling price of oil leaves Maduro in a tough spot. He lacks both the political will and popularity to push through meaningful reforms to push Venezuela’s economic house in order. At the same time, he is being increasingly squeezed by the weakness in the oil price. Hugo Chávez was luckier. At the height of...
  • Crude Oil Takes No Prisoners as Energy Selloff Tanks S&P 500

    12/10/2014 2:10:16 PM PST · by John W · 38 replies
    the street.com ^ | December 10, 2014 | Keris Alison Lahiff
    NEW YORK (TheStreet) -- If investors had hoped stocks had absorbed most of the headwinds associated with lower oil prices, they were sorely disappointed on Wednesday as the commodity crash continued. Crude prices struggled to remain above $60 a barrel with West Texas Intermediate tanking 5.1% to $60.54 a barrel after OPEC warned that demand for oil in 2015 could slow to its lowest point in 12 years. Just as oil futures stabilized midmorning, the commodity sank to new lows after the EIA reported a large increase in oil imports contributed to oversupply in domestic crude oil inventories for the...
  • WTI Crude Craters To $55 Handle, High-Yield Credit Crashing-er

    12/15/2014 12:14:43 PM PST · by tcrlaf · 19 replies
    Zerohedge ^ | 12-15-2014 | Durden
    Having almost touched $59 overnight, WTI crude has collapsed back to a $55 handle, smashing the Ruble lower and high-yield credit spreads higher. US financial stocks are starting to weaken back towards the credit market's warnings as counterparty risk concerns spread...
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • OPEC isn't scared of $40 oil

    12/14/2014 1:42:51 PM PST · by Signalman · 15 replies
    CNNMoney ^ | 12/14/2014 | Gregory Wallace
    OPEC won't rush to cut oil production even if prices fall as low as $40 per barrel, one of the cartel's members said Sunday. The energy minister for the United Arab Emirates told Bloomberg at a Dubai conference that the middle eastern oil producers believe "the market will stabilize itself." "We are not going to change our minds because the prices went to $60 or to $40," Suhail Al-Mazrouei said. Even as it has watched prices dip, OPEC declined to cut back on production at its November meeting. Some observers had expected a production cut to boost the price of...
  • Saudi Arabias oil war against Iran and Russia

    12/14/2014 2:08:05 PM PST · by elhombrelibre · 56 replies
    NYP ^ | 14 Dec 14 | Ralph Peters
    This week, oil fell through the price floor of $60 a barrel and gas at my local filling station was $2.26 a gallon. Thats great news for commuters and almost every business, but wonderfully bad news for our ugliest enemies. If oil prices remain low through next year, the effect on rogue governments, from the Russian Federation to Venezuela, will go from damaging to devastating. But Western economies (and Chinas) stand to benefit, with cheap oil possibly tickling Europes snoozing markets awake. Even most underdeveloped states will get a welcome break.
  • Texan says he entered North Korea illegally, slamming U.S.

    12/14/2014 1:23:18 PM PST · by Bettyprob · 40 replies
    CBS News ^ | December 14, 2014 | The Associated Press
    PYONGYANG, North Korea - North Korea on Sunday presented to the media an American man who says he illegally crossed into the country but has not been put into custody and is seeking asylum in Venezuela. Arturo Pierre Martinez, 29, of El Paso, Texas, said he entered North Korea by crossing the river border with China. Details of how and when he got into the country were not immediately clear. In his comments to reporters, Martinez strongly criticized the U.S. for alleged human rights violations. "The illegal war carried out against the nation of Iraq serves as a perfect example...
  • Pentagon Report: Iran Could Test an Intercontinental Ballistic Missile by 2015

    05/04/2013 2:06:00 PM PDT · by robowombat · 12 replies
    Defense Update ^ | April 25, 2013 at 10:05
    A new Pentagon assessment of Irans military power maintains that in two years time, Iran could flight-test an intercontinental ballistic missile capable of striking the United States, given sufficient foreign assistance, is provided to Tehran. The new assessment reiterated a longstanding estimate of the U.S. intelligence community. Iran could test such a missile by 2015 with assistance from nations like North Korea, China or Russia. Pyongyang is already in the process of developing the KN-08, an extended range ballistic missile that can reach the US West Coast. The missiles range could be extended to provide the missile an intercontinental strike...
  • What Oil Shock and Repub. Cave Mean to Stocks and GDP; Investment & Finance Thread - Dec. 14

    12/14/2014 7:43:31 AM PST · by expat_panama · 158 replies
    Weekly investment & finance thread ^ | Dec. 14, 2014 | Freeper Investors
    So while nobody knows the future we still need to know what to expect from the week's two big headlines, even though our view can easily (and will probably) be muddied w/ other factors. So we deal with an unknown future by checking the historical record for clues on at what the news means to our future investment returns. What oil bargains do: namely, what's it doing to the economy and to investments; here's what tanking oil's done in the past (ya gotta LOVE the fed's data site) and how real oil prices (2014$ per barrel) track real GDP-- [click...
  • Russia and China demand Iran halt secret nuclear site

    11/28/2009 2:34:44 PM PST · by SunkenCiv · 45 replies · 2,142+ views
    Times of London ^ | Saturday, November 28, 2009 | Catherine Philp, Diplomatic Correspondent
    World powers united in condemnation of Iran's nuclear activities yesterday in a rare show of international consensus on the threat posed by Tehran's continued nuclear defiance. China and Russia joined the United States, Britain, France and Germany in backing an International Atomic Energy Agency resolution censuring Iran and ordering it to halt construction of a secret uranium enrichment plant. The resolution, the first since February 2006, passed with 25 votes and six abstentions. Only Malaysia, Venezuela and Cuba supported Iran. ...China, which has shared Moscow's reluctance to take a hard line with Tehran, was reportedly persuaded to support the resolution...
  • Defector Says North Korea Castrates Disabled People; Performs Experiments Before Leaving Them to Die

    12/13/2014 11:02:01 AM PST · by SeekAndFind · 23 replies
    Christian Post ^ | 12/13/2014 | Anugrah Kumar
    A North Korean defector gives a horrible account of how people with mental or physical disabilities are seen as a stain on the nation's image and are therefore used for performing experiments before being deliberately neglected until they die. "Disabled children are being taken away, suffering indescribable things and dying," said Ji Seong-ho, who escaped North Korea in 2006 after losing his left leg above the knee and his left hand at the wrist. Ji, the founder of the organization Now, Action, Unity, Human Rights, or NAUH, who was in London this week to protest outside the North Korean embassy,...
  • North Korea parades an American who denounces the U.S. system

    12/14/2014 4:43:13 AM PST · by Cincinatus' Wife · 11 replies
    Washington Post ^ | December 14, 2014 | Anna Fifield
    TOKYO Just weeks after three Americans detained in North Korea were released, a United States citizen has shown up in the repressive state, appearing on television to denounce his home country as a Mafia enterprise and call American democracy an illusion. Although details remain sketchy, it seems that the man, Arturo Pierre Martinez of El Paso, Texas, willingly went to North Korea and he says he is not being detained. At a press conference in Pyongyang Sunday morning, Martinez vigorously criticized the United States for alleged human rights violations. The illegal war carried out against the nation of Iraq...
  • American in North Korea denounces U.S., seeks Venezuela asylum: media

    12/14/2014 1:09:49 AM PST · by TigerLikesRooster · 34 replies
    Virginia Gazette ^ | December 14, 2014
    American in North Korea denounces U.S., seeks Venezuela asylum: media Reuters 2:54 a.m. EST, December 14, 2014 A U.S. citizen who illegally entered North Korea delivered a lengthy denunciation of U.S. domestic and foreign policy on Sunday and said he was seeking political asylum in Venezuela, the North's official media said. The man identified himself as Arturo Pierre Martinez, 29, from El Paso, Texas, in video footage of a press conference released by the North's KCNA news agency and said he had taken "a risky journey to reach the (North) so that I could pass along some very valuable and...
  • Venezuelas Maduro Must Adapt to Survive. He Wont.

    12/13/2014 6:51:14 AM PST · by C19fan · 16 replies
    Foreign Polic ^ | December 12, 2014 | Juan Cristobol Nagel
    The international price of oil has dropped by more than 40 percent in the past six months. To put it lightly, this presents a major challenge to oil-exporting nations. Many analysts agree that, of all oil rich countries, Venezuela is the most vulnerable. A combination of persistent fiscal deficits, out-of-control inflation, and plunging public support for President Nicols Maduro threatens to make the nation of 30 million ungovernable. What can Maduro do to survive? In order to answer this question, we must differentiate between what Maduro can do, and what he most likely will (or, rather, will not) do.
  • Crude Oil Prices and the Coming Fall of OPEC

    12/11/2014 6:53:03 PM PST · by Signalman · 14 replies
    mondaymorning.com ^ | 12/5/2014 | Dr. Kent Moors
    Every 10 or 20 years a series of watershed events come together that change the face of the international energy picture. The Saudi-led war on crude oil prices is one of these pivotal situations. And while others fret about what the OPEC production move means, I'm actually meeting with the guys who made the decision. I can tell you that what's unfolding here in the desert will have a decisive impact on producers, end users, and government/corporate policymakers worldwide. Of course, I've been involved in a fair share of all of this for over 40 years, from both the public...
  • Peoples Climate Summit Finds Culprit in Capitalism

    12/12/2014 1:18:20 PM PST · by Oldeconomybuyer · 23 replies
    Wall Street Journal ^ | December 12, 2014 | By RYAN DUBE
    LIMA, Peru Wilfredo Saavedra, a former Marxist rebel, led a convoy of some 300 activists from Perus northern sierra, wearing an anti-mining T-shirt and Cuban baseball cap. Jim Chomicz, 70, from Birmingham, Alabama, flew here with a church group to learn more about melting glaciers. But for many of their Latin American counterparts, it is all about toppling capitalism, which they blame for the environmental degradation. Capitalism is the creator of all of these changes to the climate, said Mr. Saavedra. At a march this week, Ibis Fernndez, a Peruvian union leader and organizer of the Peoples Climate Summit,...
  • Inside the extreme Venezuelan 'beauty factories' where girls go to shocking lengths to become Miss

    12/12/2014 9:52:30 AM PST · by C19fan · 65 replies
    UK Daily Mail ^ | December 12, 2014 | Matt Roper
    Girls as young as 12 are getting cosmetic surgery such as butt lifts and nose jobs under the watchful eye of their mothers in a desperate and extreme bid to become beauty queens in Venezuela. In a country obsessed with winning international contests like Miss World and Miss Universe fame-hungry teens are going to shocking lengths to conform to the beauty pageant ideal. They include extreme measures to lose weight, with girls as young as 16 undergoing drastic surgery to cut out part of their intestines so food passes through their body without being digested.
  • US Congress passes bill to impose Venezuela sanctions

    12/12/2014 12:21:47 AM PST · by Berlin_Freeper · 12 replies
    bbc.com ^ | 11 December 2014 | bbc
    The United States Congress has passed a bill which would impose sanctions on Venezuelan officials found to have violated protesters' rights. The vote was passed by the House of Representatives and received similar approval by the Senate earlier this week. The bill is now likely to be signed into law by President Barack Obama. Venezuela's President Nicholas Maduro described the move as imposing "insolent imperialist sanctions".
  • When the UN Apes Al Sharpton

    12/12/2014 4:10:55 AM PST · by Cincinatus' Wife · 9 replies
    The American Spectator ^ | December 12, 2014 | Horace Cooper
    Among the familiar hucksters who sought to capitalize on the troubles in Ferguson, Missouri, came a new face: Prince Zeid Raad Al Hussein, the UNs High Commissioner for Human Rights and self-styled heir to the non-existent royal houses of Iraq and Syria. I am deeply concerned, Prince Zeid said in a press release, about institutionalized discrimination in America, and I urge the U.S. authorities to conduct in-depth examinations of racial justice. Notwithstanding the overwhelming evidence that Michael Browns death resulted from the criminal acts he engaged in before and during his encounter with officer Darren Wilson, Zeids Human Rights Council...
  • OECD Claims Higher Taxes and More Redistribution Will Boost Growth

    12/11/2014 10:25:27 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | December 11, 2014 | Daniel J. Mitchell
    While there are plenty of reasons to dislike the World Bank, United Nations, and (especially) the International Monetary Fund, the worst international bureaucracy on a per-dollar spent basis has to be the Paris-based Organization for Economic Cooperation and Development.The OECD used to be relatively benign by the standards of international bureaucracies, but it has veered sharply to the left in recent years and some of the bureaucracy’s “research” now is more akin to talking points from the Obama White House.And it getting worse. I wasn’t even aware that the OECD had a Directorate for Employment, Labour, and Social Affairs, but the bureaucrats...
  • Iranian president calls fall in oil prices treachery

    12/11/2014 5:09:09 AM PST · by thackney · 49 replies
    Fuel Fix ^ | December 10, 2014 | Associated Press
    Irans President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of treachery, in an apparent reference to regional rival Saudi Arabia, which opposed production cuts. Oil prices have plunged by more than 40 percent since June to around $65 a barrel, placing severe strain on Irans economy, which is already hobbled by international sanctions imposed over its nuclear program. An OPEC meeting last month failed to reach agreement on production curbs, mainly because of Saudi opposition. Rouhani told a Cabinet meeting Wednesday that the fall in prices is at least partly politically motivated,...
  • Venezuela, Not Russia, Will Be The First Domino To Fall With The Price of Oil

    12/10/2014 5:11:33 PM PST · by Maelstorm · 27 replies
    http://dailycaller.com ^ | 2/10/2014 | KEITH NAUGHTON
    The oil price collapse has brought about excited speculation that the end may be near for Putin, Iran and the American oil shale industry. While the oil price downturn will definitely stress these three players, the prime candidate for political collapse is Venezuela with significant ramifications for the United States. And its likely the Obama administration is not prepared at all. Venezuela has all three factors present for an imminent political implosion: 1) severe and worsening economic distress, 2) an organized political opposition, and 3) disunity in its security services. Russia and Iran may be in tough economic straits,...
  • Venezuela: U.S. flooding market with fracking-produced oil

    12/10/2014 5:06:25 PM PST · by Maelstorm · 86 replies
    http://latino.foxnews.com ^ | December 10, 2014 | EFE
    Venezuelan President Nicolas Maduro blasted the United States Wednesday for its large-scale use of hydraulic fracturing, or fracking, saying it is flooding the market with oil produced with environmentally destructive methods. The United States, one of the world's biggest practitioners of fracking, a controversial technique that involves pumping a pressurized fluid - usually composed of water, sand and chemicals - into a shale formation to create a fracture in the rock layer and release trapped petroleum or natural gas - has used that technology to double oil output to 8.5 million barrels per day in six years.
  • Buba explains why US only gave Germany back 5 tonnes of gold

    12/10/2014 10:38:41 AM PST · by george76 · 75 replies
    MINING ^ | February 24, 2014 | Frik Els
    On January 16, 2013 Germany's central bank, the Bundesbank, said it will ship back home all 374 tonnes it had stored with the Banque de France in Paris, as well as 300 tonnes held in Manhattan by the US Federal Reserve, by 2020. Fast forward a year and Buba, as the Federal Bank of Germany is affectionately (or maybe not) known, has only managed to bring home a paltry 37 tonnes of gold. And a mere 5 tonnes of that came from the US, the rest from Paris. The US Fed holds 45% of the total 3,396 tonnes German gold....
  • How the Swaps Market is Preparing for a Venezuelan Default

    12/10/2014 9:58:43 AM PST · by george76 · 4 replies
    wsj ^ | Dec 4, 2014 | Christopher Whittall
    Venezuela is really feeling the pinch from sliding oil prices. Now its bonds are in such bad shape that some investors are treating the countrys default as a near certainty. And they are taking action. How? Well certain banks have started to offer swap contracts that allow investors to fix the amount they can recover on insurance bought against a restructuring of the countrys debt, according to investors. If CDS contracts are triggered, the cheapest Venezuelan bonds trading in the market at that time will be used to determine payouts to protection holders. Those not wanting to take any chances...
  • Iran: Fall in oil prices is 'treachery'

    12/10/2014 7:55:44 AM PST · by C19fan · 36 replies
    AP ^ | December 10, 2014 | Ali Akbar Dareini
    Iran's President Hassan Rouhani said Wednesday that the sharp fall in global oil prices is the result of "treachery," in an apparent reference to regional rival Saudi Arabia, which opposed production cuts. Oil prices have plunged by more than 40 percent since June to around $65 a barrel, placing severe strain on Iran's economy, which is already hobbled by international sanctions imposed over its nuclear program. An OPEC meeting last month failed to reach agreement on production curbs, mainly because of Saudi opposition.
  • FEATURE-Venezuela's poor sour on Maduro as prices, shortages sting

    12/10/2014 6:01:25 AM PST · by Oldeconomybuyer · 21 replies
    Reuters ^ | December 10, 2014 | By Alexandra Ulmer
    Packing potatoes at his vegetable stand on a sun-baked street in Caracas's hillside Catia slum, Jesus Jimenez fondly recounts voting for late president Hugo Chavez. Like millions in Venezuela's poor "barrios," the chatty father of 14 worshipped the larger-than-life Chavez and benefited from his welfare programs, especially Cuban-staffed free health centers and substantial pension rises. So after Chavez's death last year, Jimenez naturally voted for the leader's hand-picked protege Nicolas Maduro, a former union activist and bus driver who vowed to continue the idiosyncratic brand of socialism known as "Chavismo". Now, though, he struggles to make ends meet as inflation...
  • Latin America Is Grinding To A Halt

    12/02/2014 9:06:50 PM PST · by blam · 28 replies
    BI ^ | 12-2-2014 | Paulina Abramovich
    Paulina Abramovich, AFP December 2, 2014Santiago (AFP) - Latin America's economies, hit by falling investment, will grow just 1.1 percent in 2014 -- their lowest level in five years, a UN commission on the region said Tuesday. The poor performance of several of Latin America's biggest economies dragged down growth across the region, found the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Argentina's economy will contract by 0.2 percent this year and Venezuela's by 3.0 percent, it said. Regional giant Brazil's will grow just 0.2 percent. The figures are the latest confirmation of the end of...
  • Venezuela's future: 'Barbarity and people looting'

    12/01/2014 2:06:52 PM PST · by Citizen Zed · 38 replies
    cnbc ^ | 12-1-2014
    "Scarcity is getting worse in Venezuela. Basic products are so hard to get," said Josseline Viera, a doctor in Venezuela. "It used to be that certain products were scarce, now it's basically everything." Viera says shortages have made it impossible for hospitals to find essential medical products such as gauze and acetaminophen. Oil accounts for 95 percent of Venezuela's export earnings,and combined with gas, it's 25 percent of the country's gross domestic product. As the price of oil hits a four-year low at $70 per barrel, the OPEC nation's oil-dependent economy is set to implode, experts say, bringing deeper political...
  • Venezualan Classical Music System Under Fire

    11/30/2014 4:45:20 PM PST · by tellw · 10 replies
    Waco Tribune (via AP) ^ | 11/30/14 | Joshua Goodman
    <p>BOGOTA, Colombia (AP) It has been praised the world over as a model for uplifting disadvantaged youth by connecting them with classical music.</p> <p>But a new book about Venezuela's network of youth orchestras known as El Sistema, or The System, portrays it as a "model of tyranny" where brutal, marathon practice sessions mirror the apparently unlimited power and top-down style of its magnetic founder, Jose Antonio Abreu.</p>
  • Saudis have reasons better than shale to let prices fall

    11/09/2014 6:06:10 AM PST · by thackney · 29 replies
    Oil & Gas Journal ^ | 11/07/2014 | Bob Tippee
    Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish competition from North American shale oil. With oil, the Saudi regime always takes the long view. With security, however, its motivations are more immediate. The kingdom faces unusually intense threats: Islamic State (IS) militancy in Iraq and Syria, the chance that Iran wont agree by a Nov. 24 deadline to suspend its nuclear ambitions, terrorist insurrections from restive Yemen, durability of the menacing government of Bashar Al-Assad in Damascus. Falling oil prices hurt the IS and Iran,...
  • OPECs Weapon of Mass Inaction

    11/30/2014 2:18:04 PM PST · by thackney · 28 replies
    Wall Street Journal ^ | Nov. 27, 2014 | LIAM DENNING
    OPEC just declared war on everyone-including itself. The oil cartels hotly-anticipated meeting on Thursday ended with a whimper: No change to an output target that already wasnt being observed. Oil prices, though, went bang: Brent crude fell 5% to around $72.40 a barrel after the decision was made. It will likely be years before we see triple-digit oil again. Saudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries, has a beef with a number of oil-market participants. It also appears to have woken up to the fact that OPEC has once again lost its grip...
  • Venezuela looks to cut spending as oil prices fall

    11/28/2014 9:48:05 PM PST · by george76 · 39 replies
    Newsday ^ | November 28, 2014
    President Nicolas Maduro is ordering a cut in government spending as Venezuela grapples with a plunge in world oil prices that threatens to bring more hardship for the petroleum-dependent economy. ... More than 95 percent of Venezuela's export earnings come from crude oil exports, and economists say the recent decline in prices will reduce the amount of dollars available for imports when Venezuelans are already suffering from widespread shortages and the world's highest inflation.
  • The New Axis of Evil Waging Unconventional Warfare

    11/27/2014 8:59:54 AM PST · by harpu · 14 replies
    www.rightsidenews.com ^ | 11/26/14 | Terresa Monroe-Hamilton
    For years, we have been warned about solidifying a new Axis of Evil between Russia, China and Iran. It is now fully formed and growing in strength. Already Russia and Chinas militaries have grown arguably more powerful than ours if you consider their nuclear arsenals and Obamas rigorous gutting of our military stockpiles and forces. The purge continues daily. All the while a military/security pact has flourished among the Axis of Evil players via the Shanghai Cooperation Organization. Unlike the US, our enemies realize that the Cold War never ended it shifted and put on a new face. We must...
  • Russia may sell S-300 missiles to Venezuela, instead of Iran - analyst

    10/16/2010 5:22:50 AM PDT · by Flavius · 5 replies
    ria novosti ^ | 10/16/10 | ria novosti
    Russia's S-300 air defense systems, which Moscow refused to deliver to Iran following a new round of UN sanctions against the Islamic Republic, could be sold to Venezuela instead, a Russian arms trade expert said on Friday.
  • The Venezuelan Missile Crisis

    01/25/2012 5:18:53 AM PST · by SJackson · 4 replies · 1+ views
    FrontPage Magazine ^ | January 24, 2012 | David Meir-Levi
    Iran initiated a close relationship with Venezuela when Venezuelas president, Hugo Chavez, hosted the 2000 OPEC meeting in Caracas. (Shireen T. Hunter, Irans Foreign Policy in the Post-Soviet Era: Resisting the New International Order [Santa Barbara, CA: Praeger, 2010], p. 233, not available on line, quoted here.) Since then, Iran and Venezuela have consorted with Cuba and Colombia to create terrorist havens and missile bases with missiles capable of carrying nuclear payloads in South America that have the southern half of the USA in their range. Thousands of Arab and Iranian terrorists have infiltrated our southern border for a decade...