the petro dollar

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the petro dollar

Post by bentech »

Electric buses were seen as a joke at an industry conference in Belgium seven years ago when the Chinese manufacturer BYD showed an early model. Suddenly, buses with battery-powered motors are a serious matter with the potential to revolutionize city transport -- and add to the forces reshaping the energy industry. With China leading the way, making the traditional smog-belching diesel behemoth run on electricity is starting to eat away at fossil fuel demand. The numbers are staggering. China had about 99 percent of the 385,000 electric buses on the roads worldwide in 2017, accounting for 17 percent of the country's entire fleet. Every five weeks, Chinese cities add 9,500 of the zero-emissions transporters -- the equivalent of London's entire working fleet, according Bloomberg New Energy Finance. All this is starting to make an observable reduction in fuel demand. And because they consume 30 times more fuel than average sized cars, their impact on energy use so far has become much greater than the than the passenger sedans produced companies from Tesla to Toyota. For every 1,000 battery-powered buses on the road, about 500 barrels a day of diesel fuel will be displaced from the market, according to BNEF calculations. This year, the volume of fuel buses take off the market may rise 37 percent to 279,000 barrels a day, about as much oil as Greece consumes, according to BNEF.

https://www.bloomberg.com/news/articles ... l-industry" onclick="window.open(this.href);return false;
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Post by Butcher Bob »

bentech wrote:With China leading the way, making the traditional smog-belching diesel behemoth run on electricity is starting to eat away at fossil fuel demand.
That is a bit deceptive. It doesn't necessarily reduce fossil fuel demand, it simply changes it from oil, which China does not have much of, to coal, which China has lots of.

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Post by smokebreaks »

Butcher Bob wrote:
bentech wrote:With China leading the way, making the traditional smog-belching diesel behemoth run on electricity is starting to eat away at fossil fuel demand.
That is a bit deceptive. It doesn't necessarily reduce fossil fuel demand, it simply changes it from oil, which China does not have much of, to coal, which China has lots of.

Years ago now, I had met this guy one morning while I was out for breakfast, interesting fellow who’s family was one of the largest shale exporter from the US.

He was telling me tales about how the US had a large trade imbalance with the Chinese mostly as a result of our shale burning away in their boilers, way hotter than the Chinese steel could withstand.

Seemed that he knew we were on a collision course with regard to trade wars at least 10 years ago.

Though anyone paying attention to global affairs or Ben’s rantings, ought to have been well aware that this day would be coming.
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the petro dollar

Post by roller24 »

Nixon bargained away the remaining gold standard, as a trade off for the petro dollar,which ended the Oil Embargo aganist the US. this move helped enrich the arab nations with not only wealth and power, but also was used to broker the influence of modern western culture (central banking) into the mid eastern countries with the CIA installing secular leaders , all at the bequest of Israel to ensure the success of it's occupation of Palestine. This in turn gave president to the UN and the legitimization of Global Government. I'm kinda stoned, so I'm sure I could have stated this more clearly. I have another whack at it later. Here's a good link though http://anonhq.com/fascinating-story-pet ... -40-years/" onclick="window.open(this.href);return false;

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the petro dollar

Post by bentech »

i dont get how this works,

The latest US sanctions, which sent the Russian currency to its steepest drop in the past three years, surprisingly helped to boost the country’s budget with an extra 232 billion rubles ($3.8 billion).

The decline in the value of the ruble, as well as recent purchases of hard currency by the Central Bank of Russia, brought an additional inflow of money for the Russian government.

The re-assessment of foreign-exchange reserves shows that, at the peak of the ruble crash, when the national currency fell to over 65 rubles to one dollar, Russia's sovereign wealth fund reaped a profit of some 470 billion rubles ($7.6 billion). However, the subsequent strengthening of the Russian currency wiped out nearly half of the gains

https://www.rt.com/business/425078-russ ... eak-ruble/" onclick="window.open(this.href);return false;
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Post by bentech »

Iran recently announced it is dropping the US dollar in foreign trade. Just as Iraq did shortly before it was invaded by the US, or Libya planned to before it was bombed by NATO-led allies. Lee Camp is starting to see a pattern.

The US is gearing up to abandon the Iran nuclear deal, which has all but killed Tehran's nuclear program in exchange for sanctions relief, because it's not restrictive enough. With Iran already saying it won't accept more demands or more sanctions, it's anyone's guess what kind of chain reaction might ensue.

READ MORE: Iran dumps dollar for euro in foreign trade transactions
Comedian Lee Camp's guess is pretty grim. He notices how Iran recently ditched the dollar in favor of the euro – something Iraq also did 18 years ago, a couple years before the US invaded it under the phony pretext of weapons of mass destruction. Libya wanted to do the same, although its leader Muammar Gaddafi wanted to establish its own currency, the gold dinar – but in 2011, NATO warplanes bombed his country to support an uprising against him. Almost immediately, the rebels formed their own central bank and were given leave by the US and the UN to legally sell oil from the land they controlled.

On his show Redacted Tonight, Lee deconstructs these parallels and more, because "It's all about the banking!"

https://youtu.be/VobUNfYwlss" onclick="window.open(this.href);return false;
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Post by Butcher Bob »

As I understand it, he's missing Syria as well.

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Post by bentech »

Clear at this point, with Washington and London abandoning any pretense of rules of international law to justify their acts of war, Iran is facing a potentially devastating new round of economic warfare to follow months of softening up through the de facto currency warfare. Things could get really ugly in the Middle East after May 12. That will target Iran, a key link to the Eurasian Belt Road Initiative, the new Economic Silk Road of China and the economic cooperation with Russia. If that succeeds, we can be sure that further targeting of Russia as well as of China is next in line. If those key strategic Eurasian powers fail to strengthen their mutual cooperation on economic, political and military levels, it could be like shooting fish in a barrel for Washington to knock out the rivals to its undisputed sole superpower hegemony. That would not be at all good for world peace prospects.

https://journal-neo.org/2018/04/21/wash ... lize-iran/" onclick="window.open(this.href);return false;
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Post by Jesús Malverde »

The Chinese may break the stranglehold on the petrodollar in trading but the USD as global reserve currency has no imminent competitors. The only likely ones, the Yuan and the Euro cannot run the trade deficits necessary and maintain their export driven economies. And as long as the USD remains the global reserve currency, deficits don't really matter which in turn limits the potential damage of attempts to undermine the USD can do. I am oversimplifying for brevity, but that's the gist of it.
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Post by Butcher Bob »

China is a tricky one, considering the amount of US debt they hold. Sort of a damned if you do and damned if you don't situation. But one thing is certain, they could fuk US economically...it's just a matter if that would be beneficial for them. :dunno:

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