Sentences with phrase «by oil reserves»

In this sense the Petro is not really a cryptocurrency — it is a digital security or token, backed by oil reserves.

Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S. - led financial sanctions, announcing on Sunday the launch of the «petro» backed by oil reserves to shore up a collapsed economy.

The project proponents of OilCoin also revealed that by being compliant and backed up by oil reserves, this cryptocurrency form can bridge over rampant criticism received from commerce, finance and government regulatory honchos.

World's First Compliant Cryptocurrency Termed OilCoin Backed By Oil Reserves Soon To Be Launched Globally

data - ad - client = «ca - pub - 9378923892950908» data - ad - slot = «4926898058» > data - ad - client = «ca - pub - 9378923892950908» data - ad - slot = «6572642908» > World's First Compliant Cryptocurrency Termed OilCoin Backed By Oil Reserves Soon To Be Launched Globally With massive propaganda...

Out of the top ten countries ranked by oil reserves, Canada is the only western liberal democracy on the list...

Not exact matches

Just this week, Venezuela launched a new cryptocurrency called the petro, which is supposedly backed by the South American country's oil reserves.

Note that by some peculiar coincidence, the U.S. occupies the very heart of the oil reserves and the nation which lies between China and the oil.

To pay for that, the bill would cut a public health fund in President Barack Obama's health care law, reduce some payments made by Medicaid and Medicare and sell oil held in the government's strategic petroleum reserve.

As detailed in the first three installments of Power Shift, an NBC News / CNBC special report, the United States is experiencing an energy boom created by new drilling technologies that have unlocked vast domestic oil and natural gas reserves.

Samuels said that while the state has among the largest budget reserves of any state, at a projected $ 10.4 billion by the middle of next year, continued low oil prices mean legislators will face some tough decisions when they return to Austin in January.

President Trump has also banned Americans from buying the Venezuelan government's «Petro» cryptocurrency, which is supposedly backed by the South American country's oil reserves.

Apart from the destruction and loss of life, Saudi Arabias oil reserves are bombed, the U.S. is poised to enter another Middle East conflict and, in the end, Irans nuclear capabilities are only set back by a couple of years.

Posted by Jeff Rubin on May 11th, 2011 under SmallerWorldTags: oil, people's bank of china, u.s. federal reserve board • 8 Comments

Additionally, the SEC requires oil and gas companies, in filings made with the SEC, to disclose proved reserves, which are those quantities of oil and gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible — from a given date forward, from known reservoirs, under existing economic conditions, operating methods, and governmental regulations.

These included overly optimistic economic growth and oil price assumptions; cutting the contingency reserve by two - thirds; selling shares in GM at fire sale prices; raiding EI revenues; and even booking «savings» from unilateral changes to federal employees» sick leave benefits.

Posted by Jeff Rubin on October 3rd, 2013 under SmallerWorldTags: carbon footprint, climate change, Environment, IPCC, oil and gas reserves • 16 Comments

An international independent audit of the oil reserves of Saudi Aramco has more than confirmed the official figures released by Riyadh for three decades, putting the number at 270 Continue Reading

The boom in unconventional fuels — such as bitumen extracted from Alberta's tar sands and oil extracted from North Dakota's Bakken shale formation by hydraulic fracturing («fracking»)-- has swelled global reserves even as climate scientists issue ever - sterner warnings that burning more than a small fraction of these reserves would be suicidal.

Maduro's government claims that the Petro is backed by domestic energy reserves, with its price pegged to one barrel of Venezuelan oil.

Instead of re-creating a «cryptocurrency», or «token» using blockchain technology, Aramco creates digital shares of a pre-fixed amount of crude oil, reserved by the company.

The future of oil and gas across the world is coming under pressure following reports by Shell, which plans to empty reserves by over 80 percent in the next 12 years.

The Petro will be backed by Venezuela's oil and gas reserves and its gold and diamond holdings, the president said in his weekly television program.

While oil majors are already cutting back on exploration activities in Nigeria, the decision by Shell indicated that keeping a large part of its oil and gas reserves in the ground would be risky.

enezuela has offered India a 30 - percent discount on crude oil purchases, but only if India agrees to pay in El Petro, the cryptocurrency that Venezuela is touting as the first national digital currency backed by crude oil reserves.

The American economy will strain to support elderly dependents comprising a third of its population, but the Iranian economy will collapse — particularly given the projection, common among economists, that, by about 2020, Iran will be a net importer, rather than exporter, of oil, as its reserves dry up.

In the meanwhile, make the Tomato Topping by combining the chopped tomato, parsley, olive oil, lemon juice, pinch of salt, and that reserved portion of caramelized onions.

Just 10 years ago, it was defined by desert sand and rich oil reserves.

The data is unambiguous on current economic conditions - GDP growth in the last quarter of 2015 was a meager 2.11 % with full year growth of 2.79 % according to the National Bureau of Statistics (NBS); inflation rose sharply to 11.4 % in February with prospects of reaching 12 % by March; capital markets have remained bearish; according to UNCTAD Nigeria's FDI fell by 27.7 % to $ 3.4 billion in 2015, and on current trends may fall even more precipitously in 2016; the de facto exchange rate of the Naira for most producers and consumers is now N322 / $ even though CBN maintains a nominal N197 / $ for privileged persons; several economic sectors - construction, government, manufacturing, oil and gas and hotels and restaurants are in recession or barely out of it; government's official foreign reserves is down to $ 27.8 bn; and unemployment and under - employment rates have worsened 10.4 % and 18.7 % by the end of 2015.

«If you take the Economic Intelligence Unit (EIU)[report], they said 2017 and onward is going to be a period of prosperity for Ghana and that is because of the foundation that we have laid, it's because of the work that we have done, we've eliminated a lot of the deficits that were created by huge subsidies on utility tariffs, we eliminated a lot of the subsidies that created huge deficits on the cost of petroleum products, today as I speak, Tema Oil Refinery (TOR) is running, and producing petroleum products for Ghana, we have enough stock of LPG, our tanks and strategic reserves for petroleum products are all full, and, so, we have ships standing offshore Ghana with petroleum products, but there is no space to offload those products, and, so, we've done a good job in stabilising various sectors of the economy.

We have: • normalized the domestic yield curve • issued the country's maiden 15 - year bond in April 2017 • improved external balances, driven by higher export earnings and lower imports • improved gross international reserves to US$ 7.2 billion, equivalent to 4.1 months of imports cover • improved primarybalanceto0.3 percent surplus in September 2017 against a deficit of 1.6 percent in September 2016 • received positive sovereign rating reviews from international ratings Agencies: Fitch, B / stable; Standard & Poor, B - / positive • successfully completed the 4th IMF / ECF program review, and • achieved positive developments in the oil & gas sector — favorable ITLOS ruling, and Sankofa producing 1st oil three months ahead of schedule.

The US just can not afford its dollar not to be backed by Iran's oil reserves.

Venezuela has followed suit, announcing the creation of El Petro, a state - sanctioned cryptocurrency to be backed by Venezuela's extensive reserves of crude oil.

The outlook for oil prices in my view, remains problematic especially with the advent of pro-energy policies in the US by President Trump's administration and less restraints on oil production and pipelines as a result of climate concerns; the reserves accretion is probably artificial and worse still, at the expense of trade and manufacturing output; the IMF and World Bank have been wrong many times before -LRB-!)

Ngige argued that this country entered recession a long time ago before the Buhari government came on board but nobody noticed it because of the huge foreign reserves accumulated by former President Olusegun Obasanjo, which has now shrunk to $ 21billion as a result of the crash in oil prices.

Instead, the money comes from dedicated sources approved by Congress — for example, the 21st Century Cures Act, a House bill to speed the development of new medicines, would give NIH $ 8.75 billion in new funding over 5 years by selling oil from the U.S. strategic petroleum reserve.

The reserve was established as a rainforest research center in 1996, with half of its land remaining untouched while the other half is set aside for sustainable logging, ecotourism and the production of crabwood oil from carapa seed by forest - dwelling communities.

In winter months, when demand for heat cranks up, there are two reserve systems: an additional heating plant fueled by wood chips, and another (rarely used) furnace that burns traditional oil.

The new wrinkle is the administration's heavy reliance on what is called mandatory spending, which would fund a specific program using revenue generated by the sale of a government asset, such as oil in the strategic petroleum reserve, or a particular tax or license fee.

The total amount of methane made by these microbes is probably greater than the mass of all known reserves of coal, gas, and oil.

The proposal includes significant «mandatory spending, which would fund a specific program using revenue generated by the sale of a government asset, such as oil in the strategic petroleum reserve, or a particular tax or license fee,» Mervis continued.

(Deeper reserves must be forced to the surface by an injection of pressurized steam, with even greater emissions; about 40 percent of Canadian oil from the sands is produced this way.)

Launched in mid-2010 after 3 years of technical consultation, the Yasuni ITT project was lauded by foreign governments and environmental groups as an innovative way to fight global warming: Not exploiting the Ishpingo - Tambococha - Tiputini (ITT) oilfields in Yasuni National Park will, according to the United Nations Development Programme (UNDP), prevent the emissions of around 410 million metric tons of carbon dioxide — equivalent to the annual emissions of France and accounting for 20 % of Ecuador's known oil reserves.

Many of his mistakes are big ones: he bungles the issues involving reserves and resources that are critical to his core argument about oil remaining cheap; he drastically misleads his readers about the extent to which sulfur dioxide and nitrogen oxide emissions from coal - burning have been reduced; he trivializes the climate - change risks from coals carbon dioxide emissions by suggesting we know the impacts will be worth only 0.64 cents per kilowatt - hour.

After receiving pledges totaling more than its goal of $ 100 million by a year - end deadline, the Ecuadorian government last week announced that it would move forward with the so - called Yasuni ITT Initiative, an innovative plan to leave untapped more than 900 million barrels of crude oil beneath a pristine Amazonian nature reserve, in exchange for annual international donations.

Total untapped reserves estimated by the U.S. Geological Survey: 7.4 billion barrels of oil.

$ 8 billion) over first ten years for deficit reductionObeys PAYGO; Starting in 2026, 25 % of auction revenues for deficit reductionFuels and TransportationIncrease biofuels to 60 million gallons by 2030, low - carbon fuel standard of 10 % by 2010, 1 million plug» in hybrid cars by 2025, raise fuel economy standards, smart growth funding, end oil subsidies, promote natural gas drilling, enhanced oil recoverySmart growth funding, plug - in hybrids, raise fuel economy standards $ 7 billion a year for smart growth funding, plug - in hybrids, natural gas vehicles, raise fuel economy standards; offshore drilling with revenue sharing and oil spill veto, natural gas fracking disclosureCost ContainmentInternational offsetsOffset pool, banking and borrowing flexibility, soft price collar using permit reserve auction at $ 28 per ton going to 60 % above three - year - average market price» Hard» price collar between $ 12 and $ 25 per ton, floor increases at 3 % + CPI, ceiling at 5 % + CPI, plus permit reserve auction, offsets like W - MClean Air Act And StatesNot discussedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade suspended until 2017, EPA to set stationary source performance standards in 2016, some Clean Air Act provisions excludedOnly polluters above 25,000 tons of carbon dioxide equivalent a year, regional cap and trade pre-empted, establishes coal - fired plant performance standards, some Clean Air Act provisions excludedInternational CompetitivenessTax incentives for domestic auto industryFree allowances for trade - exposed industries, 2020 carbon tariff on importsCarbon tariff on importsReferences: Barack Obama, 2007; Barack Obama, 8/3/08; Pew Center, 6/26/09; leaked drafts of American Power Act, 5/11/10.

The Carbon Tracker Initiative — led by James Leaton, an environmentalist who served as an adviser at the accounting giant PricewaterhouseCoopers — combed through proprietary databases to figure out how much oil, gas and coal the world's major energy companies hold in reserve.

The film is about a young, idealistic program coordinator at the United Nations, as played by Theo James (from the Divergent series), who stumbles upon a conspiracy involving Iraq's oil reserves.

All the energy stored in Earth's reserves of coal, oil, and natural gas is matched by the energy from just 20 days of sunshine.