Brazil, Russia, India, and China Producing More Oil, While California Wants More Taxes
Brasilia, Brazil
While the news in the USA has been dominated by “health care” debates, the BRIC (Brazil, Russia, India, and China) nations have all been taking steps to increase oil production:
Monday, March 22, 2010
Brazil Petrobras Sees Feb Gas, Oil Output Rise 1.4% On Month
Rising Russian output problem for OPEC, Libya says
By Alejandro Barbajosa 3/18/10
VIENNA (Reuters) – OPEC has less room to raise production as global oil use recovers because of Russia’s increasing output, said Shokri Ghanem, the head of Libya’s delegation to the organisation.
http://af.reuters.com/article/investingNews/idAFJOE62H0EZ20100318?pageNumber=2&virtualBrandChannel=0
- MARCH 23, 2010, 4:53 A.M. ET
Cairn Upgrades India Oil Output as Profit Slumps
By JAMES HERRON
LONDON — Cairn Energy PLC Tuesday posted a 93% fall in net profit for 2009 as lower energy prices hit revenues, but made a significant upgrade to the oil production potential of its major new project in India.
Oil discoveries Cairn made in Rajasthan, India, are now thought to be capable of producing up to 240,000 barrels of oil a day, up from the previous target for plateau production of 175,000 barrels a day, the company said. The Mangala field alone may be capable of producing 150,000 barrels of oil a day, according to results from recent development wells, Cairn said…
China North East Petroleum Subsidiary Tiancheng Signs Contract with PetroChina Jilin to Drill 30 New Wells
23 March 2010
This increase of oil output will strengthen their economies. Few seem to recall that it originally was the USA that dominated world oil production. This shifting of production clearly suggests that wealth will likely continue to increase in the BRIC nations, while likely decreasing in the USA.
On the other hand, in California, a new tax on oil production within the State has been proposed in order to deal with budget deficits (http://www.montereyherald.com/opinion/ci_14723062). But some oppose it:
Gray, Armendariz Speak Out Against Oil-Tax Legislation
They say AB 1604, proposed by Pedro Nava, would threaten jobs on the Central and South coasts
This type of tax will not increase wealth of California, it will decrease incentive for oil production and related jobs. Increasing taxes tends to cut jobs.
The trend is not a friend for the USA anymore. The USA’s rising federal and states debt levels will have many consequences, some more severe than most Americans have imagined.
Some articles of possibly related interest may include:
Mexico, Central America, South America, and Brazil in Prophecy [Español: México, America Central, Suramérica, y el Brasil en profecíal] [Português: México, América Central, Ámérica do Sul, e Brasil na profecia] What will happen to those of Latin America? Will they have prosperity? Will they cooperate with Europe? Will they suffer in the future? What rule might the various Caribbean nations/territories play?
Russia: Its Origins and Prophesied Future Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end?
Is Russia the King of the North? Some claim it is. But what does the Bible teach?
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage and discusses some of the witness to them (including those in Bangladesh, Pakistan, and Sri Lanka).
Asia in Prophecy What is Ahead for China and the rest of Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
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