More "News and Views" from KTFA Members Sunday PM 8-25-19
Samson: The strategic partnership between the government and the private sector is the cornerstone of Iraq's 2030 vision LINK
MilitiaMan: Moving to a market economy is essential now. They have calculated the mechanisms to do so now.
They'll also need to have the economic reforms in place at an international level to support the new economy to come.
Attracting foreign capital is clearly going to come from a new exchange mechanism in place. Lets see if the ISX / NASDAQI provides the platform to allow that foriegn capital to have free un fettered movement!!
I sure would like to see the mechanism's being shown on electronic bill boards in the news to come now or ASAP.. lol.. imo ~ MM
DocK: Mnuchin says 3 OPTIONS, Kudlow says 3 ZEROS - OOPS that slipped out...
Starts at 2 min. mark
Watch Mnuchin's face link
Doodlebug: Mnuchin said: “Free and Fair Reciprocal Trade. Tell them the President proposed the three options. Larry Kudlow interrupted and said, “three zero’s”.
Larry Kudlow said: The Three Zero’s that surfaced/written a year ago and wrote it again on Saturday, the President repeated it today… his vision here is ZERO Tariffs, ZERO Non-Tariff Barriers and ZERO Subsidies.
IMOO, Mnuchin didn’t have an expression, he always looks that way. LOL
Thanks Doc_K! Maybe the deletion of the three 0's has been talked about so much, they are using "0's" in other examples. LOL
Doodlebug: Zero Tariffs, Zero Barriers, Zero Subsidies: Is This Even Possible?
July 30, 2018
On Tuesday, President Trump took to Twitter to talk about trade once again. But instead of repeating that “tariffs are the greatest” or “trade wars are good and easy to win,” the president struck more of a free-trading theme and called for the United States and EU to drop all tariffs, non-tariff barriers (NTBs), and subsidies:
The following day, President Trump and the President of the European Commission Jean-Claude Juncker agreed to take up the challenge. The two leaders released a joint statement that the United States and EU would “work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.”
The article continues, HERE:
Center For Strategic & International Studies, CSIS
Samson: Trump offers Britain a very big trade deal at the G7
25th August, 2019
US President Donald Trump has pledged to British Prime Minister Boris Johnson a major trade deal for Britain after leaving the European Union, describing the new prime minister as the right man to get the country out of the EU
Johnson, who faces a delicate task to reassure European allies and not anger Trump at the Group of Seven summit in France, said trade talks with the United States would be tough but there were huge opportunities for British companies in the US market
Speaking to reporters before a bilateral meeting focused on trade, Trump said Britain's EU membership had hampered efforts to strengthen trade ties
"We are going to make a very big trade deal - bigger than any agreement we had with the UK," he said
Trump and Johnson spoke at the French resort of Biarritz, where he went to attend the G7 summit, which exposed sharp differences over trade protection and a host of other issues including climate change and digital taxes before they even started
British government officials say London favors a comprehensive free trade agreement with the United States after leaving the European Union, while some US officials, including Trump's national security adviser John Bolton, have spoken of a sector-by-sector approach LINK
Samson: G7 leaders unanimously agree to prevent Iran from acquiring a nuclear weapon
25th August, 2019
Leaders of the G7 countries said that their positions are identical on the Iranian nuclear file and that Tehran should not possess nuclear weapons.
Prime Minister Shinzo Abe, who is attending the Group of Seven (G7) meetings in the French city of Biarritz, expressed "serious concern that Iran is enriching uranium," Kyodo news agency reported.
In May, Tehran announced a reduction in its commitment to some items of the nuclear agreement on the size and percentage of enrichment of uranium and heavy water. Iran. LINK
Samson: Facts about the consumption of black gold in the world
25th August, 2019
According to the US Energy Information Administration, the world consumed 96.92 million barrels of oil per day in 2016, while the top ten countries accounted for 60% of total global consumption.
With Brent crude averaging $ 60 a barrel today, global oil consumption is around $ 5.8 billion a day.
In her report, published by the American Oil Price website, the writer Julian Geiger addressed the quantities of crude oil consumed globally.
The three largest oil-consuming countries are estimated to be:
- United States by 20%.
- China by 13%.
- India by 5%.
These three countries dominate more than a third of global consumption.
In contrast, Saudi Arabia and Russia ranks fifth and sixth respectively in global consumption, although they are among the largest oil producing countries.
These figures are just daily rates for 2016 based on data provided by the US Energy Information Administration. Today, daily oil consumption is 100 million barrels or more.
According to the statistical review of the global energy sector, issued by the British BP, the consumption of crude oil has accelerated in decades.
Evolution of consumption
World oil consumption was estimated at forty million barrels per day in 1969, to reach 36.4 billion in 2018, equivalent to $ 2.2 trillion of oil consumption in one year.
Total global oil consumption between 1950 and 2018 is estimated at 1.457 trillion barrels.
Between 2008 and 2018 alone, the world consumed an additional 371.2 billion barrels.
Between 1950 and 1969, world oil production was 151.4 billion barrels.
In 1950, production reached 3.8 billion barrels, equivalent to ten million barrels per day.
To compare this figure with current production rates, the United States, Saudi Arabia and Russia produce much more.
By 2040, the world consumes about 42 billion barrels per year (Getty Images)
By 2040, the world consumes about 42 billion barrels per year (Getty Images)
Unfortunately, the methods used to keep records were not up-to-date and less effective than those used today.
In the past, not all oil-producing countries kept records indicating how much oil they were pumping, as did those that did not keep records of the amount of oil consumed, which made estimates of global consumption before 1950 vary widely.
Oil demand growth is set to slow in the coming years, but that does not mean there is no increase in global demand.
With the world consuming 100 million barrels per day now, according to the US Energy Information Administration, oil consumption is expected to grow by 1.1 million in 2019, and growth next year is expected to reach 1.4 million.
However, forecasts for demand growth are often adjusted, with analysts predicting a decline in oil demand from the US-China trade war.
Consumption in 2040
The Organization of Petroleum Exporting Countries (OPEC) estimated demand growth of 7.3 million barrels per day between 2019-2023, and in 2019-2040 demand will reach 14.5 million. This means that by 2040, the world will consume about 42 billion barrels per year.
Compared to the remaining volumes of oil reserves starting in 2018, the world may still have 1.497 trillion barrels, with OPEC member states holding about 79.4% of oil reserves, including 64.5% in the Middle East.
Venezuela and Iran, which suffer from economic sanctions, hold 30% of OPEC's reserves, while Nigeria and Libya, which suffer from security risks that have hampered production operations, 5% of this reserve, which means not to exploit 35% of crude oil.
While OPEC holds the lion's share of world oil over the next decade, most of the new oil supplies will inevitably come from the United States. LINK
Don961: Ihsan Blower: Iraq and the foundations of international agreements and conditions?
8/25/2019 4:57:14 AM Baghdad / Obelisk:
The contract is considered the most important form of legal action, which is the legal expression for conducting transactions both internally and internationally.
The international bodies and organizations concerned with the subject of international contracts only on the occasion of commercial transactions, these bodies have made great efforts to unify the provisions of international trade, so emerged features of a new branch of the law, the International Trade Law, which includes international agreements that have been completed in the field of international trade and model contracts and conditions General developed in this area.
The role of international contracts in the unification of international trade law:
International trade law is the set of rules that apply to private law-related commercial contracts between two or more States.
This definition came in a report prepared by the Secretariat of the United Nations to be presented to the General Assembly in 1965 on the occasion of the establishment of a committee to unify the provisions of the law of international trade.
From this definition, we see that the law of international trade contains objective rules for the rule of international trade relations and is not merely a unification of national attribution rules so that a unified rule defines the national law applicable as the law of the State of the conclusion of the contract, for example, or the law of the State implementing the contract.
This is a general introduction that charts the legal relationship between contractors with respect to international trade and its laws. The UN legal bodies seek to establish general rules that safeguard the rights of contractors and balance the common interests of the Contracting States, whether between two or more parties, let alone to maintain a balance of common interests between Contractors.
In summary, Iraq conducted commercial contracts with neighboring countries in regulating the use of seaports with Kuwait did not take into account the national interests of Iraq, but exceeded them to threaten its economic and commercial security through the adoption of clauses that violate Iraq's interests seriously and threaten the national industry, in addition to allowing the Kuwaiti party Exercise powers that are inconsistent with the terms of international agreements
The basis in the trade agreements is the organization and balance of common interests in a legal context ratified by the contracting parties, after the development of a study of commercial and technical competence, strange that Iraq ratifies most of the agreements outside these administrative, legal and technical contexts, and the evidence shows clearly when reading the terms of the recent trade agreement with a state Kuwait, as the Iraqi side, ironically, only changed the name of the Republic of Iraq on the right, and ended up at this point ?.
The observer of the Iraqi issue has the right to put the executive, legislative and judicial authorities in front of legitimate questions in their role in preserving vital interests that threaten economic and food security through arbitrary agreements between Iraq and neighboring countries. link