Posts tagged as:

Venezuela

Sucre, The New Latin American Currency To Replace US Dollar For Intra-Regional Trade

October 19, 2009 · 1 comment

in Latin America, US dollar, currencies, forex, international economy, news and updates

On Saturday, October 17, 2009, ALBA (Alternativa Bolivariana para las Américas) announced the creation of a new intra-regional currency, named the Sucre, which will be rolled out starting in 2010 in non-paper format.  The currency is named after Jose Antonio de Sucre, who helped Venezuela fight for independence from Spain two hundred years ago.
Agence-France Presse [...]

{ 1 comment }

The OPEC Oil Consumption Cycle and the Dangers of Cheap, Subsidized Energy

July 9, 2009 · 4 comments

in OPEC, energy, international economy, oil

OPEC (Organization of the Petroleum Exporting Countries) was created in Baghdad in 1960 as an intergovernmental organization with 5 founding members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.  Since then, other members have come and gone, including Qatar, Ecuador, Indonesia, UAE, Algeria, Nigeria, Angola, and Gabon.
According to OPEC’s site, “OPEC’s objective is to co-ordinate and [...]

{ 4 comments }

Where the U.S. Gets Its Oil

July 8, 2009 · 7 comments

in commodities, energy, international economy, oil

According to Jeff Rubin, in his book Why Your World Is About To Get A Whole Lot Smaller (2009) (read my review of Jeff Rubin here), the U.S. is two-thirds dependent upon foreign oil sources.  That means roughly 66% of its oil usage comes from other countries.  Do you know which ones?  I’ll tell you [...]

{ 7 comments }