According to Chinese customs data, Beijing has stopped selling oil products to its largest trading partner North Korea. China had previously refused to buy coal ore iron ore from the Kim regime.
But US satellites showed Chinese ships trading for oil with North Korean vessels just recently, raising questions about the Chinese commitment to denying North Korea energy supplies in accordance with UN sanctions.
China did not export gasoline, jet fuel, diesel or fuel oil, nor did Beijing import any coal or iron ore, Reuters reported Tuesday, citing Chinese customs data. It was the second straight month China did not export any diesel or gasoline to Pyongyang, according to the report… more
Imagine, if you will, Hugo Chavez’s worst nightmare. The weapon he used to shake dollars out of the hated gringo, oil, is gone. Venezuelans cannot even get gas for their cars from their gas stations these days, and oil production has dropped to historic lows. The money is gone, too. Venezuela is under default and sanctions and can no longer pay its bills. Its foreign reserves have fallen below $10 billion. Chavez, before his death in 2013, railed about the primacy of the dollar, even as he kept the dollars from Venezuela’s oil profits to himself and his cronies. Now, the people have the dollar – and they are using it to fight the failures of Chavez’s socialist regime.
This explains why the new phenomenon of dollarization now happening in Venezuela is actually a spark of light for a post-socialist future.
Dollarization happens whenever something goes very, very, very, wrong with the local currency. In Venezuela, annual inflation today, on 12/27/17 is 3,920%. Monthly inflation is 36%, meaning, the Venezuelan currency loses value pretty much by the hour. People carry bolivars, the local currency unit, around by the wheelbarrowful. What’s more, currency controls mean you can’t even get your own money out of the bank except in very limited amounts, the equivalent of about $8 a day at most… more
In preparation for the Third Temple, the nascent Sanhedrin and the United Temple Movement (UTM) under the auspices of the Mount Zion Association annually prepares olive oil that is ritually pure and ready for use in the Temple, but this year, the olives were harvested from a special orchard, intended to send a special light into the world that adheres to a prophecy with current-day political ramifications.
The oil-making is part of an ongoing effort by the Mount Zion Association to recreate Temple rituals and become familiar with them in every detail, so they can be reinstated without delay, should the need arise in the near future. But making this olive oil is also an effort to bring about prophecy as written in the Bible.
On Sunday, volunteers will harvest olives for Temple oil in the orchards of Amona, a Jewish community in the Biblical region assigned to the tribe of Benjamin…. read more
proclaims to be God — 2 Thessalonians 2:3 Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed, the son of perdition; 4 Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God…. read more
Turkish energy company Unit International, Russia’s Zarubezhneft, and Iran’s non-governmental firm Ghadir Investment Company have pledged to invest a combined US$7 billion to drill at three oil fields and one natural gas field in Iran, the Turkish company said on Tuesday.
The investment commitment comes just a week after Ghadir Investment signed a deal with Zarubezhneft and Unit International to finance and develop oil and gas projects in and outside Iran.
The three companies agreed to set up joint ventures to fund oil and gas development projects, with Ghadir Exploration and Production Company leading the consortium in which each company would have equal share of the financing.
According to Unit International, as cited by Reuters, the total reserves at the three oil fields are estimated at 10 billion barrels, and the fields would be able to pump 100,000 bpd… read more
GUARENAS, Venezuela — Five years ago, when Hugo Chávez was president and Venezuela was a much different place, Ana Margarita Rangel could still afford to go to the movies and the beach, or to buy the ingredients she needed to bake cakes.
Even three years ago, when the country’s economy was beginning a severe contraction, Rangel earned enough for an occasional treat such as soda or ice cream.
Now she spends everything she earns to fend off hunger. Her shoes are tattered and torn, but she cannot afford new ones. A tube of toothpaste costs half a week’s wages.
“I’ve always loved brushing my teeth before going to sleep. I mean, that’s the rule, right?” said Rangel, who lives in a hillside slum 25 miles west of Caracas, the capital, and works in a cosmetics factory down in the suburban city of Guarenas.<!–more–>
opinion: They should not be suffering for food, but that is not a fact. The fact is they are suffering and why? Did you know Venezuela has the LARGEST oil reserves. They rank number 1. So what is going on with Venezuela and do you believe it could happen in your country?
Their current president is keeping food and medicine from coming in, WHY?
“Now Maduro doesn’t want that because he says everything is perfect in Venezuela, but that’s not true, everybody knows that,” he said in a recent television interview. “And the second thing is there has to be pressure in a nice way, without trying to interfere too much. There has to be some kind of moral persuasion.”<!–more–>
Now he is asking for help concerning medicine but not food, WHY? Pray for them and pray they seek and cry out to the Lord God Almighty!
If you have any further updated news please post your comment below.
- Russia has unveiled five-storey military base on Alexander Land in the Arctic Ocean’s Franz Josef Archipelago
- The top-secret polar complex, painted in Russia’s red, white and blue, can house warplanes and 150 troops
- Comes as Russia looks to lay claim to region’s enormous oil and gas reserves thought to be worth £23trillion
Russia has unveiled a new Arctic military base capable of housing 150 troops as well as nuclear-ready warplanes.
The triangular complex, painted in the red, white and blue of the Russia’s tricolor flag, has been built in remote Alexandra Land in the Franz Josef Archipelago.
While parts of the base remain top secret, military chiefs have offered a glimpse at the interior of the building.
It comes as part of Russia’s largest Arctic military push since the fall of the Soviet Union and as Moscow moves to lay claim to the region’s huge oil and gas reserves – believe to be worth as much as £23trillion…. read more
In a troubled oil world, the Permian Basin is the gift that keeps on giving.
One portion of the giant field, known as the Wolfcamp formation, was found to hold 20 billion barrels of oil trapped in four layers of shale beneath West Texas. That’s almost three times larger than North Dakota’s Bakken play and the single largest U.S. unconventional crude accumulation ever assessed, according to the U.S. Geological Survey. At current prices, that oil is worth almost $900 billion.
The estimate lends credence to the assertion from Pioneer Natural Resources CEO Scott Sheffield that the Permian’s shale could hold as much as 75 billion barrels, making it second only to Saudi Arabia’s Ghawar field. Irving-based Pioneer has been increasing its production targets all year as drilling in the Wolfcamp produced bigger gushers than the company’s engineers and geologists forecast.
“The fact that this is the largest assessment of continuous oil we have ever done just goes to show that, even in areas that have produced billions of barrels of oil, there is still the potential to find billions more,” Walter Guidroz, coordinator for the geological survey’s energy resources program, said in the statement…. [read more]
Saudi Arabia has warned Donald Trump that the incoming US president will risk the health of his country’s economy if he acts on his election promises to block oil imports.
In a sign of the difficulties Mr Trump faces over his campaign pledges to create “complete American energy independence” from “our foes and the oil cartels”, Saudi Arabia’s energy minister pointedly reminded the president-elect that the US “benefits more than anybody else from global free trade”, adding, “energy is the lifeblood of the global economy”.
“At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,” Khalid al-Falih, who is also chairman of Aramco, the state-run oil company, told the Financial Times in Marrakesh, where he is leading Saudi Arabia’s delegation in UN climate talks…. [read more]
article: Permian’s Wolfcamp formation called biggest shale oil field in U.S.