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Global Witness Accuses Exxon of ‘Exploitative’ Contract That Robs People of Guyana of $55 Billion in Lost Oil Revenue

Global Witness Accuses Exxon of ‘Exploitative’ Contract That Robs People of Guyana of $55 Billion in Lost Oil Revenue thumbnail

International human rights and anti-corruption group Global Witness is calling on the Guyanese government to renegotiate a oil license deal with fossil fuel giant Exxon after the group’s analysis showed that Guyana stands to lose $55 billion while the oil giant takes control of one of the largest oil reserves found in years.

Global Witness found that the rushed deal left Guyana with a lower profit share from Exxon’s Stabroek oil license than countries generally get from such negotiations. The group based its findings on a study by financial analysis firm OpenOil comparing Guyana’s contract with Exxon to deals between governments and oil companies around the world.

Under the deal, Guyana could lose up to $1.3 billion per year—money which could be used for schools, hospitals, infrastructure, and to repair crumbling sea walls in a country where “90% of the population [is] at risk from rising sea level,” Global Witness said in its report, entitled “Signed Away.”

Global Witness interviewed Guyanese citizens last summer about the country’s high unemployment rate, sugar farms which have been forced to close, and the revenues needed to protect the country from sea level rise—a phenomenon largely driven by the climate crisis and extractive activities like oil drilling.

“In Mahaicony, Guyana’s breadbasket on the coast, we were shown wide swathes of farm fields flooded with salt water,” the report reads. “The sea wall had collapsed, crops were ruined, livestock was getting sick, and it would be years before the land recovered. Money was desperately needed to rebuild coastal defenses.”

Patrick Galey, environment correspondent for Agence France Presse, tweeted that Guyana’s resources have been “plundered by oil barons.”

“Guyana’s loss. Humanity’s loss,” Galey wrote.

Global Witness blamed Exxon’s “exploitative” deal-making process for the unfair agreement. The company had a license for the Stabroek oil reserve off the Guyanese coast in 1999, and rushed to renew the license quickly after finding oil there in 2016.

“Guyana’s urgent development needs—such as building new hospitals and schools, and protecting itself from rising sea levels that put 90% of the population at risk—will not be met by Exxon walking away with an extra $55 billion in its back pocket.”
—Jonathan Gant, Global Witness
The group says Exxon violated its own policies when it paid for Guyanese Natural Resources Minister Raphael Trotman to take a lavish trip to the company’s Texas headquarters, complete with a first-class flight, a stay at an expensive hotel, and a meal at an exclusive restaurant. Exxon’s internal policy prohibits gifts that may “improperly influence pending business decisions.”

“It is shocking that Exxon would seek such an exploitative deal in one of the Western Hemisphere’s poorest countries,” said Jonathan Gant, senior campaigner at Global Witness. “Guyana’s urgent development needs—such as building new hospitals and schools, and protecting itself from rising sea levels that put 90% of the population at risk—will not be met by Exxon walking away with an extra $55 billion in its back pocket.”

Global Witness also believes Trotman may have had a conflict of interest during the deal because his political ally, Nigel Hughes, was a lawyer for Exxon. His firm has represented the company since 2009, but Hughes denies he worked on the Stabroek oil reserve deal.

Still, the group called on Guyanese officials “to investigate the Exxon deal and the ministers involved, and to demand a new, fair license.”

Global Witness also said U.S. authorities, including the State Department, should support renegotiation.

Renegotiating the contract could boost the country’s budget, the report reads.

“With an average extra $1.3 billion per year from Stabroek, Guyana could address the concerns of its people,” said Global Witness. “The government’s total 2019 annual budget is $1.4 billion. With additional money from Stabroek, Guyana could double its annual $172 million health budget, $251 million education budget, $185 million infrastructure budget and still have $700 million left each year.”

The report also details two oil license deals—called Kaieteur and Canje—which were originally awarded to two smaller companies which then gave drilling rights to Exxon before extracting oil.

“Exxon’s Kaieteur and Canje licenses raise corruption red flags and should be investigated,” said Gant. “Given these problems and the threats to Guyana posed by the global climate emergency, Guyana should renegotiate the Stabroek license and then ban all new drilling in the country.”

Common Dreams

128 Comments on "Global Witness Accuses Exxon of ‘Exploitative’ Contract That Robs People of Guyana of $55 Billion in Lost Oil Revenue"

  1. makati1 on Thu, 6th Feb 2020 7:12 pm 

    Time check.

  2. makati1 on Thu, 6th Feb 2020 7:15 pm 

    I post most of my comments between 4PM and 10PM PO time. I am rarely on-line during the rest of the day/night. Anything posted at other times will probably be ‘by others’. I don’t live here like D.Davy.

  3. makati1 on Thu, 6th Feb 2020 7:16 pm 

    BTW: it is 9:16 AM here in the Philippines. A rainy Friday morning but 80F.

  4. I AM THE MOB on Thu, 6th Feb 2020 7:47 pm 


    China Will Cut Tariffs In Half On $75 Billion Of U.S. Products

    Guess they are tired of kung flu?


    see clogg and mak. you cant win

  5. makati1 on Thu, 6th Feb 2020 8:40 pm 

    MOB, you keep exposing your immaturity and ignorance. ~$5B tariff reduction is about 5% of China’s US imports/year vs China’s exports to the US of about $550B/year. YUGE difference!

    Get a real education and stop sucking down that USMSM propaganda.

  6. Davy on Thu, 6th Feb 2020 9:16 pm 

    Yoo spelt America rong agin makato.

    LMOA at the dumass

  7. makati1 on Thu, 6th Feb 2020 9:50 pm 

    Amerika. the Nazi form of spelling America. “Seig Trump!” The US is a Police State and a fascist oligarchy. it is sliding into the toilet faster and faster every day; I’m glad I no longer live there. I live in a civilized country with real customs and history. US is going down and not too soon! Go Trump!

  8. ANSL REAPER on Thu, 6th Feb 2020 9:56 pm 

    whitey supertard trump roasted muzzie in yemen and navy couldn’t find his carcass.
    this is unacceptable, and not found is carcass of dead muzzie in london either.
    what do you expect when you fired two top commanders of navy who were experts at muzzie burial at sea according to muzzie customs but it’s not a muzzie

    head spun

  9. the good news network of muzzies love on Thu, 6th Feb 2020 10:05 pm 

    hello supertards

    world supremacist muzzies bag day feb12021

    world grater nedertardland 72 days away

  10. REAL Green Davy on Thu, 6th Feb 2020 10:49 pm 

    Ask me why I’m a REAL Green HYPOCRITE…..
    I like to pretend, for public consumption and to assuage my demented conscience, that I’m a REAL Green environmentalist (you know, as opposed to lying liberal Democrats) when in fact it’s a smoke screen to disguise my support for the most ecocidal president and political party in the history of the country. I support the disposal of America’s parks to the highest bidder; I support the repeal of the Endangered Species Act; I support the repeal of clean water and clean air standards; In summary, I support President Trump’s rollbacks of more than 80 environmental rules and regulations.
    Now that’s what I call a SUPER DUPER REAL GREENIE MEANIE as opposed to all those lying liberal Democrats.
    Oops…. I forgot to include my support for President Trump’s declaration that climate change is a fraud cooked up by the Democrats to get more money for their tree-hugging science supporters.
    Sorry about the oversight.

  11. Davy on Thu, 6th Feb 2020 10:49 pm 

    The sad reality of what is happening is I have weaponized the bad behavior of taking people identities and using multiple fake handles. This then gets used against me and the result is a forum any normal person with a rational and intelligent mind will avoid. I don’t care because for me this is about a turf war and I have nothing better to do with my meaningless widdle life.

  12. Cloggie on Thu, 6th Feb 2020 10:53 pm 

    Davy exposed.

  13. REAL Green on Thu, 6th Feb 2020 11:18 pm 

    Davys a looser.

    Always was, and always will be.

  14. joe on Fri, 7th Feb 2020 12:41 am 

    Duncan Idaho on Wed, 5th Feb 2020 10:04 pm

    No, they didnt just cave in. Obama PROMISED to close Gitmo and its still open, he PROMISED healthcare for all and he caved in to Big Health and did a Tereasa May style mess up Bush2 and bLIAR invaded Iraq knowing that Saudi Arabia was behind 9-11 (Trump released the 28 pages). Clinton bombed the Serbia to aid jihadis in Kosovo and he bombed a chemical plant in Sudan cause he ‘thought’ UBL was there. Until people everywhere admit that corruption didnt just begin with the guy in office you dont happen to like then you will not be able to fix the system, in fact it will be unfixable because you will only shill for the guy you like and that politician will just be as bad as the other guy would have been.

  15. ANSL REAPER on Fri, 7th Feb 2020 2:49 am 

    everyone please respect supertard

  16. Abraham van Helsing on Fri, 7th Feb 2020 3:26 am 

    “see clogg and mak. you cant win”

    Mobster for Trump! lol

    China is probably coming to a shrieking stand still indeed. Corona could mean the end of globalization. Mobster shouldn’t cry victory too soon. It is obvious that the Corona virus is not a natural biological phenomena but a bio-weapon, that either escaped from a Wuhan laboratory… or was planted as a black-op by the CIA in order to stop China.

    Either way, keep in mind that the Chinese government, knowing that the uninterrupted economic growth of the past decades are over, could start blaming the US for having planted the virus. Doesn’t need to be true. In geopolitics the truth doesn’t count, only propaganda, as every holo-hoaxer should know. Through this campaign China could mobilize its population for a massive expansion in East-Asia, at the cost of empire.

    But for the moment China is too busy with containing the crisis, could easily last until the Summer. Unless scientists finds a vaccine soon, the entire world will be implicated.

    2020 will be lost year for all.

  17. Davy on Fri, 7th Feb 2020 4:32 am 

    “Amerika. the Nazi form of spelling America. “Seig Trump!” The US is a Police State and a fascist oligarchy. it is sliding into the toilet faster and faster every day; I’m glad I no longer live there. I live in a civilized country with real customs and history. US is going down and not too soon! Go Trump!”

    Show your anger and resentment you stupid old man with a boring dull life. You live on a dirty beach in the p’s on a small social security stipend. You howl daily at America because your life there was such a failure. You left a big family and now I am sure they don’t give a shit about you.

  18. Davy on Fri, 7th Feb 2020 4:42 am 

    “Either way, keep in mind that the Chinese government, knowing that the uninterrupted economic growth of the past decades are over, could start blaming the US for having planted the virus. Doesn’t need to be true.”

    Pretty obvious the virus was a weaponized Chinese bioweapon that escaped a level 4 biolab and then when it started spreading it was covered up. Why do you think the Chinese were so mum on this! They now have ruined their global image. Who wants a BRI with this shit? Looks like another makato and cloggo meme has gone in the waste basket of fantasy

  19. Abraham van Helsing on Fri, 7th Feb 2020 4:49 am 

    “Amerika. the Nazi form of spelling America. “Seig Trump!” The US is a Police State and a fascist oligarchy. it is sliding into the toilet faster and faster every day; I’m glad I no longer live there. I live in a civilized country with real customs and history. US is going down and not too soon! Go Trump!”

    BS. “Amerika” is how the Germans, Dutch and other Germanic’s spell America. There are more people of Germanic than Anglo descent in America (Davy, makati, derhund).

    Soon, (T)rump-Amerika will be German rather than Anglo, “after the break”.

  20. Trump's Broken Promises on Fri, 7th Feb 2020 4:50 am 


    You spin the truth for your own political purposes.

    GITMO: The Congress passed a law preventing the closure of GITMO.

    Obama’s Affordable Care Act afforded health care for an additional 20.1 million people and disallowed insurance companies from using prior conditions to deny coverage.

    The Balkans: Clinton stopped a genocide.

    What has Trump done to close GITMO? Trump promised to end wasteful wars in the Mid East. What has Trump done to expand healthcare?

    Trump’s 30 Broken Promises (short version)

    1. He told you he’d cut your taxes, and that the super-rich like him would pay more. You bought it. But his 2017 tax law has done the opposite. By 2027, according to the nonpartisan Tax Policy Center, the richest 1 percent will have received 83 percent of the tax cut and the richest 0.1 percent, 60 percent of it. But more than half of all Americans — 53 percent — will pay more in taxes. As Trump told his wealthy friends at Mar-a-Lago just days after the tax bill became law, “You all just got a lot richer.”

    2. He promised that the average family would see a $4,000 pay raise because of the tax law. You bought it. But real wages for most Americans are lower today than they were before the tax law went into effect.

    3. He promised to close special interest loopholes that have been so good for Wall Street investors but unfair to American workers, especially the notorious “carried interest” loophole for private-equity, hedge fund, and real estate partners. You bought it. But the new tax law kept the “carried interest” loophole.

    4. He promised to bring an end to Kim Jong-Un’s nuclear program. You bought it. Kim Jong-Un hasn’t denuclearized.

    5. He told you he’d repeal Obamacare and replace it with something “beautiful,” including “insurance for everybody.” You bought it. But he didn’t repeal and he didn’t replace. (Just as well: His plan would have knocked at least 24 million Americans off health insurance, including many of you.) Instead, he’s doing what he can to cut it back and replace it with nothing. According to the Commonwealth Fund, about 4 million Americans have lost health insurance in the last two years.

    6. He told you he wouldn’t “cut Social Security like every other Republican and I’m not going to cut Medicare or Medicaid.” You bought it. But now he’s planning such cuts in order to deal with the ballooning deficit created, in part, by the new tax law for corporations and the rich.

    7. He promised to protect anyone with pre-existing conditions. You bought it. But in June, his Justice Department told a federal court it would no longer defend provisions of Obamacare that protect patients with pre-existing conditions. Attorney General Jeff Sessions said the decision was made with Trump’s approval.

    8. He said he’d build a “wall” across the southern border.You believed him. But there’s no wall.

    9. He told you he’d invest $1 trillion in our nation’s crumbling infrastructure. You bought it. But after his giant tax cut for corporations and millionaires, there’s no money left for infrastructure.

    10. He said he’d drain the Washington swamp. You bought it. But he’s brought into his administration more billionaires, CEOs, and Wall Street moguls than in any administration in history, to make laws that will enrich their businesses, and he’s filled departments and agencies with former lobbyists, lawyers and consultants who are crafting new policies for the same industries they recently worked for.

    11. He promised to re-institute a five-year ban on all executive branch officials lobbying the government for five years after they leave government.” You bought it. But the five-year ban he signed applies only to lobbying one’s former agency, not the government as a whole, and it doesn’t stop former officials from becoming lobbyists.

    12. He said he’d use his business experience to whip the White House into shape. You bought it. But he has created the most dysfunctional, back-stabbing White House in modern history, and has already fired and replaced so many assistants that people there barely know who’s in charge of what.

    13. He told you he’d “bring down drug prices” by negotiating “like crazy” with drug companies. You bought it. But he hasn’t.

    14. He told you he’d “stop foreign lobbyists from raising money for American elections.” You bought it. But foreign lobbyists are still raising money for American elections.

    15. He promised “six weeks of paid maternity leave to any mother with a newborn child whose employer does not provide the benefit.” You bought it. But the giant tax cut for corporations and the rich doesn’t leave any money for this.

    16. He said he’d create tax-free dependent care savings accounts for younger and elderly dependents, and have the government match contributions low-income families put into their savings accounts. You bought it. He’s done neither.

    17. He said that on Day One he’d label China a “currency manipulator.” You bought it. But then he declared China is not a currency manipulator.

    18. He said he “won’t bomb Syria.” You bought it. Then he bombed Syria.

    19. After pulling out of the Paris accord, he said he’d negotiate a better deal on the environment. You bought it. There have been no negotiations.

    20. He promised that the many women who accused him of sexual misconduct “will be sued after the election is over.” You bought it. He hasn’t sued them, presumably because he doesn’t want the truth to come out.

    21. He said he would not be a president who took vacations, and criticized Barack Obama for taking too many vacations. You bought it. But since becoming President, he has spent a quarter of his days at one of his golf properties.

    22. He vowed to “push colleges to cut the skyrocketing cost of tuition.” You believed him. But he hasn’t. Instead, he’s made it easier for for-profit college to defraud students.

    23. He said he’d force companies to keep jobs in America, and that there would be consequences for companies that shipped jobs abroad, especially government contractors. You believed him. Never before in U.S. history have federal contractors sent so many jobs overseas. There have been no consequences.

    24. He promised to end DACA. Then in January 2018 promised that “DACA recipients should not to be concerned… We’re going to solve the problem,” then he reversed himself again and vowed to end the program by March, 2018. Currently, the federal courts have stayed any action on it.

    25. He promised to revive the struggling coal industry and bring back lost coal mining jobs. You bought it. But coal is still losing customers as utilities turn to natural gas and renewable power.

    26. He promised to protect American steel jobs. You bought it. His tariffs on steel have protected some steel jobs. But industries that use steel – like automakers and construction – now have to pay more for the steel they use, with the result that their jobs are threatened. The Trade Partnership projects that 400,000 jobs will be lost among steel and aluminum users.

    27. He said he’d make America safer. You believed him. But mass shootings keep rising, and Trump has failed to pass effective gun control legislation. After 17 died in Parkland, Florida, Trump promised “immediate action” on gun safety in schools, but has done nothing.

    28. He promised to make two- and four-year colleges more affordable. You bought it. But Trump’s most recent budget contains deep cuts in aid for low-income and first-generation college students, reduces Federal Work Study, and eliminates the 50-year-old Federal Supplemental Educational Opportunity Grant program, which goes to more than a million poor college kids each year.

    29. He promised to eliminate the federal deficit and bring down the debt. You bought it. Yet due to his massive tax cut mostly for corporations and the rich, and his military spending, Trump’s annual deficits now exceed $1 Trillion.

    30. He said he’d release his taxes. “I’m under a routine audit and it’ll be released, and as soon as the audit is finished it will be released,” he promised during the campaign. You bought it. He still hasn’t released his taxes.

    31. “I’m going to be working for you. I’m not going to have time to go play golf.”
    –Donald J. Trump, August 2016

    Trump’s golf count

  21. Davy on Fri, 7th Feb 2020 5:08 am 

    “Virus Cases Explode On Quarantined Cruise Ship In Japan As China Claims Slowdown In Number Of New Cases” zero hedge

    “Total cases stand at 31,439 as death toll climbs to 639
    China claims the growth in people under medical observation has peaked, and is now slowing.
    Japan reports 41 additional cases, for a total of 61 aboard the quarantined cruise ship
    Senior CCP official orders Wuhan to round up infected residents for mass quarantine camps
    Beijing completes second coronavirus hospital in Wuhan
    Wuhan hospital confirms that doctor who was one of first to warn about virus died on Thursday
    Economists warn China faces difficult dilemma in deciding when workers should return to work
    Taiwan halts visas for citizens of Macau and Hong Kong
    Germany confirms 13th case
    2 suspected cases found in South Africa
    Dubai reports 3rd death outside China”

    One has to admire how authoritarian the Chinese can be in regards to just how controlled their population can be. That might backfire on them but I think in this case people are afraid of dying and for good reason. It might be different if this were just an economic collapse then they might rebel to the excessive control. It is pretty apparent this is going to ripple through the global economy with shattering results to growth. It is not yet apparent if this will be a cascade but it will likely initiate a bad recession. People think this is going away but it is obvious it is going to ripple around the globe causing pockets of pandemics that scare and shutter activity. If one wants a good read on what happens with pandemics and systemness read this:

    “Catastrophic Shocks in Complex Socio-Economic Systems—a pandemic perspective” feasta pdf

    “The globalised economy has become more complex (connectivity, interdependence, and speed), and delocalized, with increasing concentration within critical systems. This has made us all more vulnerable to systemic shocks. This paper by David Korowicz provides an overview of the effect of a major pandemic on the operation of complex socio-economic systems using some simple models. It discusses the links between initial pandemic absenteeism and supply-chain contagion, and the evolution and rate of shock propagation. It discusses systemic collapse and the difficulties of re-booting socio-economic systems.”

  22. Davy on Fri, 7th Feb 2020 5:12 am 

    “Truckloads Of Tropical Fruit Are Rotting At China’s Border As Outbreak Hammers Farmers” zero hedge

    “impoverished farmers in southeast Asia have nowhere to turn to compensate for the thousands of tons of fruits and veggies rotting along their borders with China…Over the last decade, as China’s population boomed, the county became the biggest buyer of fruits and vegetables from its neighbors. Thailand and Vietnam now export about 25% of their agricultural products to China, while Myanmar sends more than 50% of its harvest according to ASEANStats. In the poorest, most rural parts of these three countries, farming is critical: without it, local economies could collapse.”

  23. Abraham van Helsing on Fri, 7th Feb 2020 5:13 am 

    “Soon, (T)rump-Amerika will be German rather than Anglo, “after the break”.”

    We need to invent a new term for European Americans as the term “America” is grossly overbooked. Everybody can be an American these days [*]

    Proposition: Amerikaner.

    Borrowed from the Dutch Boers: Afrikaner.

    [*] –

    [0:15] “Proud to be an American”

    The guy at [0:04] is Davy, very afraid of being seen as “racist”.rofl

    The video is yet another proof of jews making fun of white Americans. Here is another:

    5:49: “Whites are fucking losers”
    5:56: “Now pay up you white piece of shit”
    6:26: “America’s worst sin is racism”
    6:34: “Blacks and Whites should intermingle”

    That’s why the Germans put the Bill Maher’s of this world on a train to the East, back to the Ukraine where the Ashkenazim had come from 100 years earlier. Reason: Bolshevism, a jewish ideology that aims at using the underclasses of society against the upper layers. They have a special Talmudic phrase for that:

    “Tob Shebbe Goyim Harog!” (kill the best Gentiles!).

    In America the jewish strategy is different. Rather than 100 years ago using the impoverished, exploited European white underclasses of industrial society against the white upper classses, the Bill Maher’s of this world have found a new proletariat they can use against the whites and that is the third world.

    All we Eurasians need to do is to wait until Mobster and Trump-voter Davy types go at each other’s throat (CW2), enjoy a smokey and ensure that neither side wins and eventually go in and separate the hot heads and enforce the Mother of All Regime Changes.

  24. Davy on Fri, 7th Feb 2020 5:16 am 

    “Turkey Is Telling Syrian Mercenaries They Will Fight Russians In Libya” zero hedge

    “To boost motivation, Turkey is telling Syrian rebels it is sending to Libya they will fight Russians, the Investigative Journal said on Wednesday, citing sources in Turkish-backed Syrian National Army. “There are Russians here,” said a 21-year-old Syrian mercenary from Kafr Nabl, a town in Syria’s Idlib province. “The Turks confirmed this to us. I wouldn’t even hurt a Libyan here. But if I find a Russian, I will put a stick up his ass.”

  25. Davy on Fri, 7th Feb 2020 5:24 am 

    “The guy at [0:04] is Davy, very afraid of being seen as “racist”.rofl”

    cloggo, I am whiter than you are likely. Dutch have so much foreign shit in their blood from trampling the rest of the world like you guys did for so many years in the colonial era. How can I be racist when I have good friends of color now and over the years?? No, I am a white guy with a backbone being strong instead of a loser like you that whines and moans because his widdle feelings are hurt he can’t be a slave master over other cultures anymore. What a friggin loser you are. Real white people see the battle ahead is with a planet in decline not people of color. I do believe at this time in history people need to quit crossing the globe like the modern traveler and also migrations need to slow to a trickle by agreement. Times are changing and culture should not be homogenized by eurotard culture of globalism which is what modernism is. It is a Eurotard creation. You did this cloggo and you deserve the pain. Much more is on the way child! LMFAO

  26. Davy on Fri, 7th Feb 2020 5:32 am 

    This is something the virtue seeking extremist liberals can be proud of here. The extremist liberal element of the Democratic party (Idaho) has gone full tilt with “the means justify the ends”. This type of behavior is anything goes no different than the white supremist they use as their boogieman. It is these extreme element (cloggo included) that will ripe the world apart.

    “Blacklist Valley: How Big Tech Reshapes Politics By Censoring Conservative Ideas” Washington examiner

    “Three forces are driving Big Tech’s online censorship. Two are external and related: market pressures and de-platforming campaigns by liberal activists and journalists. The third pressure is internal: Silicon Valley is staggeringly one-sided politically.”

  27. Davy on Fri, 7th Feb 2020 5:35 am 

    “NYT: ‘Iran-Backed Militia’ Attack That Provoked Soleimani Killing Was Possible ISIS False Flag” zero hedge

    “A new lengthy New York Times investigative report cites multiple top Iraqi officials who go on record to say of their analysis of the Dec.27 Kirkuk incident: “These facts all point to the Islamic State, Iraqi officials say.” The Pentagon says it has evidence decisively pinning it on Khataib Hezbollah, known for its closeness to Tehran; however, the paramilitary group itself has denied that it was behind the operation. US officials have from the start been scant on details and have not made public any evidence or intelligence. This led some analysts in the days after the attack to question whether ISIS cells, still known to be active in the area, might have been behind it — given also it would be to the Sunni terrorist group’s benefit to sow a major rift between US and local Iraqi Shia forces, which is precisely what happened (Trump has recently gone so far as to threaten “very big sanctions” on Baghdad if US forces are kicked out). Alternately the White House perhaps appeared ready to manufacture a justification to take out Soleimani.”

  28. Davy on Fri, 7th Feb 2020 5:39 am 

    “Supply Chain Shock – Here’s The Most Exposed S&P500 Industries To China” zero hedge

    “We noted on Wednesday night, two-thirds of the Chinese economy has effectively shut down much of its production capacity, crippling supply chains critical to keep not only the second-largest economy in the world humming, but the entire world… the scale of supply chain disruptions in China and aboard is absolutely “staggering.” We noted on Tuesday that Hyundai Motor Co. and its sister Kia Motors Corp. suspended production lines in South Korea after it was hit with a parts shortage from China. Volkswagen, Toyota, General Motors, and Tesla have all closed their Chinese plants, as has Foxconn closed all plants making iPhones in the country. The supply chain chaos is pushing out from China now could soon be realized in Europe. Fiat-Chrysler might be forced to halt production at one of its European plants if the virus doesn’t clear up within the next week or two. The company is already struggling to source parts from China. Evans-Pritchard also warned that the collapse in Chinese oil consumption is “the biggest shock to oil markets since the Lehman crisis.” Two-thirds of China’s economy was shut down overnight and has led to a collapse in energy demand, which now poses a significant threat to corporate bond markets across the world. Coronavirus isn’t just infecting people and killing them, it’s also creating havoc and disrupting complex supply chains that will lead many companies to revise their earnings down in 1H20. Mohamed El-Erian, the chief economic adviser to the insurance company Allianz, said the economic damage caused by coronavirus would play this year. El-Erian said the economic shock to Wuhan and the surrounding manufacturing hubs is happening at a time when the global economy is slowing and interest rates among central banks are near zero.”

  29. Davy on Fri, 7th Feb 2020 5:58 am 

    “Iraq Is On The Brink Of An Energy Crisis” oil price

    “In addition to this, Iraq has two natural hedge positions against the U.S. not extending its next waiver, and leaving Iraq supposedly without Iranian gas and electricity in the very short-term before U.S. investment and deals can actually put power on the ground in Iraq. The first of these hedges is that Iraq will just keep the money that it already owes Iran for previous supplies. According to a comment last week from Hamid Hosseini, a spokesman for the Iranian Oil, Gas and Petrochemical Products Exporters’ Association, up to US$5 billion in payments from Iraq to Iran for past gas and electricity supplies is sitting in an escrow account at the Central Bank of Iraq, but Iran cannot touch it because of the U.S. sanctions. In fact, according to the Iran source spoken to by last week, the figure is US$6.1 billion, which, if the U.S. does not extend the waiver later this month, Iraq will just keep. The second of Iraq’s hedges against the U.S. not extending the waiver on these imports from Iran at the end of this month is just to keep importing them anyway. Iraq has a very long porous border with Iran and an even longer history of using it – and shared facilities – to circumvent oil and gas sanctions, and there is no reason to assume that this will suddenly cease. The question then naturally arises as to why Iran would agree to continue to supply Iraq with gas and other commodities if it cannot draw out money owed to it from the Iraq escrow account. The answer is twofold: First, Iran is working in a number of areas on essentially a barter-based business methodology, according to the Iran source. “It offers oil and gas resources to China and Russia and others which, in turn, offer Iran items it needs, such as technology items, chemicals, agricultural sector goods, and finance facilities, for example, so there are ways in which Iraq could pay Iran in currency of one sort or another,” he said. The second option for Iran, and an idea of the assassinated Islamic Revolutionary Guard Corps (IRGC) commander, Major General Qassem Soleimani, is that Iraq assigns leases and ownership to Iran through a wide range of IRGC-related entities to commercial real estate and businesses in the Shia-dominated areas of Iraq. This transfer of ownership on a limited scale has been taking place on an intermittent basis for a number of years, especially around Karbala, Najaf, and Nasiriyah, according to the source. It suits the Iranians well enough, as it is a way of cementing Iranian control across the Shia population of Iran, and it suits Iraq as well as it means it doesn’t have to part with any money, which is always a strain on the already strained budget, and it means that it can leave it to Iran to control the radical Shia elements in and around those regions,” he added.”

  30. Davy on Fri, 7th Feb 2020 6:11 am 

    “Brace For A Global Crisis In 2020” oil price

    “So the PRC was already on economic life-support by the time the coronavirus pandemic began to become known by the end of January 2020. It was clear that the CPC was already well aware of the reality that the coronavirus had begun its broad contagion – with the consequent impact on the PRC economy – when it signed the “trade deal” with Pres. Trump. All of this, coupled with the economic impact of the revolt of Hong Kong against the PRC – effectively removing Hong Kong as one of the key economic contributors to the PRC’s “economic miracle” – meant that the PRC’s already-delicate economic condition was now in an unavoidable and dramatic decline. At the same time, the Hong Kong example meant that Beijing’s steady pressure to dominate the elections in the Republic of China (ROC: Taiwan) collapsed, resulting in a severe loss of prestige for the CPC. The Taiwanese “intransigence” meant that “two Chinas” continued to exist. The CPC could not claim total victory in the Chinese Civil War when the original state – albeit now reduced to a rump geography on Taiwan and other islands – continued to exist as a taunt to the legitimacy of Chinese maoism.”

  31. Abraham van Helsing on Fri, 7th Feb 2020 6:52 am 

    Over the past decades, China preferred a don’t-rock-the-boat BAU as long as it was growing spectacularly and accepted US hegemony.

    This could very well be over now. The thirties have shown that after a period of real economic crisis, war is what comes next.

  32. Abraham van Helsing on Fri, 7th Feb 2020 6:55 am 

    More trouble for Boeing:

    “Bad Weather, Pilot Error Likely Caused The Pegasus Airline Accident – But Why Did The Plane Break Up?”

    “Bad weather, bad runway, bad airline, bad pilots are the likely factors in this accident. But the outcome would have been much better if the fuselage of the plane had stayed intact.

    In this incident the 737-NG fuselage broke into three parts. The sight is familiar to those who have seen the Al Jazeerah documentary On a wing and a prayer (vid). It is about Boeing whistleblowers who discovered that one supplier delivered defective and misfitting fuselage parts but where told to shut up by Boeing’s management. The misfitting parts were installed on 737 NG planes and are suspected to be responsible for several fuselage break ups of 737 NGs involved in landing accidents”

    Country standing with one leg in the third world, still pretending to be a first world country.

  33. Davy on Fri, 7th Feb 2020 7:29 am 

    cloggo’s Eurasian phoenix:

    “A Stunning 400 Million People Are On Lockdown In China As Guangzhou Joins Quarantine” zero hedge

    “Guangzhou, the capital of China’s southwestern Guangdong Province and the country’s fifth largest city with nearly 15 million residents, has just joined the ranks of cities imposing a mandatory lockdown on all citizens, effectively trapping residents inside their homes, with only limited permission to venture into the outside world to buy essential supplies. The decision means 3 provinces, 60 cities and 400 million people are now facing China’s most-strict level of lockdown as Beijing struggles to contain the coronavirus outbreak as the virus has already spread to more than 2 dozen countries.”

  34. joe on Fri, 7th Feb 2020 8:08 am 

    I wonder if this could be the big one? Death rate reported has to be bullshit. They wouldn’t do this unless it was really dangerous. Has to be way higher. It’s clearly not contained.

  35. joe on Fri, 7th Feb 2020 8:15 am 

    Trump’s Broken Promises on Fri, 7th Feb 2020 4:50 am

    Hypocritical snowflake. You act as if Trump invented a broken promise. Get a life, get real, the left has done at least as much as anyone to undermine America. Listing off what is in ur opinion trumps flaws, does not address my post. I dont claim trump is great, hes just riding on a wave of Democrats failures and lies, its a neoliberalism and wokeism that failed you.

  36. world supremacist muzzies bag day United on Fri, 7th Feb 2020 8:18 am 

    Just want to pop in to wish my little big brother joe a happy and muzzies free new year.

    Muzzies stabbed uk cop cop loved muzzies 1000x. Muzzies said muzzies life worth more. I’m not good at bargaining so I’ll take muzzies $2 amputated and $1.5 amputated. Normally just $1 and $.50

    World supremacist muzzies bag day feb12021
    World grater nedertardland day 54 days away

  37. ansley REAPER on Fri, 7th Feb 2020 8:42 am 

    my little big brother joe supertard here

    He’s the only one mildly afflicted with muzzies love

    Everyone else a muzzie a muzzie lover or crypto muzzies lover

  38. Davy on Fri, 7th Feb 2020 9:09 am 

    “Royal Caribbean Ship With 12 Quarantined Passengers Docks In NJ; Ambulances, CDC On Scene” zero hedge

    “A Royal Caribbean cruise ship that has 12 passengers quarantined over fears of coronavirus has docked in Bayonne, New Jersey, this morning with ambulances on the scene.”

    “The “Anthem of the Seas” arrived in New Jersey just hours ago, at about 6AM, in thick dense fog, according to ABC 6. Several ambulances were on standby at the scene.”

    “The passengers in quarantine will all be tested by the CDC, who was also awaiting the arrival of the ship on the scene. The passengers of the ship are all Chinese nationals – many of whom started exhibiting symptoms while aboard the ship, which was coming back from the Bahamas.”

  39. Davy on Fri, 7th Feb 2020 9:14 am 

    “He’s Strong, Sharp & Powerfully Focused”: Trump Praises President Xi, Claims China’s Virus “Counterattack” Is Going “Very Well”“ zero hedge

    “President Xi has already started scapegoating local officials, meanwhile, reports emerged overnight of another confirmed case of the virus in Singapore with no links to China, suggesting that it was another human-to-human transmission.”

    “But after Beijing yesterday announced that it would scale back trade-war tariffs to allow greater numbers of US goods to flow into the country, President Trump has decided to do him a good turn, handing him a powerful propaganda tool in a pair of supportive tweets, uncritically relaying Xi’s assessment that the effort to suppress the virus is going “very well”.”

    “Trump praised China’s “building hospitals in a matter of days” and added that they are “doing very well.” Meanwhile, the US will continue to work closely with China, the president pledged”

  40. Duncan Idaho on Fri, 7th Feb 2020 9:57 am 

    Trump charging Secret Service $650 per room per night to protect him at his golf courses

    At least Trump is good at ripping people off—-

  41. Cloggie on Fri, 7th Feb 2020 10:10 am 

    JuanP is a lunatic

    This is obviously JuanP ID theft
    Davy said “He’s Strong, Sharp & Powerfully F…

    Davy said “Royal Caribbean Ship With 12 Quarantined Passenge…

  42. ansley REAPER on Fri, 7th Feb 2020 10:12 am 

    I love when Muzzies bite my cock

  43. Duncan Idaho on Fri, 7th Feb 2020 10:17 am 

    Some Trump ideas are spreading—-

  44. Duncan Idaho on Fri, 7th Feb 2020 10:23 am 

    “Now suddenly a guy comes in who does not campaign one bit in Iowa, New Hampshire, he’s not on the ballot I guess in Nevada or South Carolina, but he’s worth $55 billion,” Sanders said Thursday when asked about the rules change. “I guess if you’re worth $55 billion you can get the rules changed for a debate. So, to answer your question: I think that is an absolute outrage and really unfair.”

  45. Davy on Fri, 7th Feb 2020 11:39 am 

    “Epidemiologist Warns, You Can’t Keep The Coronavirus Out Of The US” zero hedge

    “The United States has implemented travel restrictions in recent days to keep the fast-moving coronavirus that has crippled much of China from spreading across America. But one epidemiologist is warning it won’t work…“I have never seen instances where that has worked when we are talking about a virus at this scale,” epidemiologist Jennifer Nuzzo, a senior scholar at Johns Hopkins University’s Center for Health Security, testified before the House Foreign Affairs subcommittee.”

    “The U.S. government has implemented mandatory quarantine measures for the first time in about 50 years, health officials said last week. Flights from mainland China are being funneled through 11 U.S. airports, officials said, where all passengers are being screened for symptoms. Travelers from Hubei province are being quarantined for 14 days.”

    “We keep hearing how the ruling class isn’t doing enough to protect us.”

    “Isn’t it obvious by now that they don’t really care? They need us for one thing: tax cattle. Our health is the least of their concern.”

  46. JuanP on Fri, 7th Feb 2020 11:54 am 

    I am so afraid the virus will hit Miami Beach hard. I already have AIDS so this virus will probably kill me

  47. Abraham van Helsing on Fri, 7th Feb 2020 12:40 pm 

    See it from a positive angle: at least you are not going to die from AIDS!

  48. Davy on Fri, 7th Feb 2020 2:32 pm 

    Your a LIAR juanpee!

  49. supremacist muzzie lover all the way on Fri, 7th Feb 2020 3:39 pm 

    Muzzi brother is guilty also who brother blew up ariana grande who is a muzzie lover
    This muzzie should be amputated and thrown into the sea.

    Or sell to me .20$ unamputated $.40 amputated
    I’ll turn a profit

  50. makati1 on Fri, 7th Feb 2020 4:58 pm 

    Scanning the above comments, I see D.Day is still posting non stop with his goat shit. LOL

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