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rockfl9

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About rockfl9

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  1. A key element of the HCL is that ALL oil operations and sales be controlled by the one National Oil Company. The Kurds say that the oil under Kurdish land is Kurdish oil. They will NEVER give it up. However., they will SELL some to Bagdad for the right price. The HCL never had anything to do with the exchange rate. That was the Guru's excuse for the RV delay. The MOF/CBI have been raiding the reserves. AGAIN The reserves are what supports the exchange rate. There WILL BE a rate change in December , but you won't like it. I expect 1550 to 1600. Could be worse if oil doe
  2. Central says the oil belongs to ALL Iraqi's . But The Kurds say NOT in our region. Our land IS AUTONOMUS by the constitution . Who is right? Their constitution has a lot of conflicts like that,/. The Kurds have agreed that they will contribute 250K bbls for an agreed part of the budget to pay employees in the region. BUT it is a cat fight . The Kurds wont send the oil until they get the money AND Central wont send the money until they get they get oil. They dint trust one another . They need a third party to serve as an escrow office. But my thoughts are that would be a nev
  3. Unfortunately the infrastructure bill has become a cover for carpetbagging. Roads and bridges have fallen to only a small part. The Dems want to include a lot of pet projects calling them infrastructure ! They have to get it through before the next election when they may loose control. Some how they need to agree to prioritize and put the frills on the back burner.
  4. No SD I was talking about the Iraqi budget.. They "PASS " A budget just to be sure they all will get paid first everything else is smoke.. You can mark my words , come December there will be another devaluation which will result in enough dinar to meet the payroll for another year. It is not Biden's budget ! It will be congresses budget. Your state is probably in good shape but many of the less prosperous states have not been able to maintain or build new infrastructure. It has been needed for a long time. TRUMP did NOTHING . His MAGA program went NOWHERE. He is fortunate that
  5. SD .. I believe you are right. The IQD WILL BECOME a true COLLECTABLE. Traded between Dinarians or just left in the shoebox. It will NEVER become INTERNATIONAL until the CBI begins buying it back from outside the country. WHY would they do that? When the CBI reserves are GONE there will be NO dollars to do a buyback. The VALUE of the IQD will never be more than it is today (and that is in-country ONLY.) The idea that the CBI would increase the rate and expect the FX market to trade at it is ridiculous. That will never happen!!! No one in their right mind would take that trade.
  6. So most of the oil reserves will remain in the ground , NEVER to be sold!!!!! So the future of any country that relies on oil revenues is bleak after 2025. SA , the UAE and Bahrain are moving to alternate sources of income . They know these changes take time and they must prepare now! Fortunately these countries are guided by rulers that can force the populace to go in the necessary direction . The necessary skill sets need to be developing in short order. Iraq is not even thinking of reducing the dependence on oil income. While it is not very good today its economy is headed
  7. The EU Environmental Commission rejected Shell Oil's proposal to STOP production of fossil fuels by 2050 as "not aggressive " enough, Ford announced today that they will go "Full Electric " , there will not be any gas engine models in plan after 2025! That matches GM's plan to be total electric by 2030. The US has not proposed any stop date for fossil fuel production , but if these directives are followed gasoline demand will automatically decline without the need for hard rules.
  8. SD. Tks for the article. I did not know this plant existed. I remember during the mid-60s a model project of this technology was proposed in the Arizona desert. A lot of planning but it never came to be. Too expensive to be able to provide power for 10 hours on the best of days AND the harsh desert environment would be a "maintenance Godzilla". It seems that his is one of those projects that once started became too big to fail. But maybe we have learned we shouldn't do it again. One thing is this plant will keep an army of technicians employed No doubt we will need more clean
  9. You can be assured that the wildlife is protected when putting in something like a solar farm. Certain species like your tortoise would be relocated or given a preserve . When I said Arabs I should have said ME oil producers. They need to find new sources of income as oil use declines.
  10. I would have liked to read that reply, Sage. There will always be the need for oil products the question is how much for how long? The answer to that question depends on who you want to believe. The world IS getting serious about reduceing carbon and global warming . The Saudi's are planning to sell off another 10% of their oil business for money to develop future income. Planning ahead.
  11. It will come from natural gas now but wind and solar, with storage soon!. Texas big problem is that they do not connected to the US grid AND the systems within the state are not coordinated. It was a domino effect. my state (Fla) shut down it's last oil generating plant 2 years ago ! We have six nuclear and one in moth balls till it is needed. We are 12% solar and 1% wind now . hope to be 20% solar in a few years . We are connected to both the Eastern and Mid-western grids and export some power in the winter months. .Note that Biden's Infrastructure plan has budgets for Grid improve
  12. The pandemic has delayed things a little, but EVs will be in full production in 2023. Tesla , with 4 plants expects to do 2.5 Mil units. All together 5 Mil. Rumor is that GM will intro a new brand. Easy to think that oil demand will decline. That means a lower price. The Arabs know this and are developing alternate source es of income today well knowing that will take 3-5 years. The Iraqi's are sitting on their thumbs, looking for foreign investors to give them the solution.
  13. One explanation is that inflation is due to population increase. As an employer you should know that people are not 100% productive 100% of the time. This "slippage " increases costs and that must be covered by increasing prices if you want to stay in business. All those little "inefficiencies " ADD UP to INFLATION!!! It is there , ignore it and you are in trouble. Iraq is a good example. For years they have hired people to do nothing to solve the unemployment problem. 100% inefficiency. All the while claiming no inflation while importing goods from the real world that
  14. Just because you see price increases does not mean official inflation. it is not that simple. These are not normal times. We are seeing shortages in things that never happened before . Shortages in semiconductors is shutting down auto production ??? no need to rush 2022 models. Lack of shipping containers is holding up exports from china, Korea and India. Excessive Outsourcing gone berserk! The containers are stuck in Long Beach and etc. due to lack of trucks and drivers. You might think it is a simple task to hire and train a truck driver , but it is not. You may
  15. I said a little inflation is good. Because it is a natural law.. it is hard to explain. Any time you think there is no inflation some thing is going wrong or you are measure ing the wrong thing.
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