Post From Wealthwatch.world Chat Room 7-29-15
Late Night Chat With Butifldrm & Sczin11 Part 1 of 2
Butifldrm: Hi Guys
Butifldrm: I'm not sure if anyone has seen this. I have not posted yet
Butifldrm: I hate this site but they do post relevant oil and gas news
Butifldrm: Erbil-Baghdad Agreement: Deal or No Deal? July 29, 2015 in Oil & Gas Despite the dramatic shift in policy, the KRG has not closed the door on reaching a solution with the Iraqi authorities, possibly in the form of renegotiating a new deal, a number of Kurdish officials told Al-Monitor.
“This was a decision forced on us by circumstances,” Sherko Jawdat, chairman of Kurdistan parliament’s Energy Committee, told Al-Monitor. “However, we’re still ready to make a deal with Baghdad on the condition that Kurdistan’s financial dues are guaranteed and paid.”
Baghdad and the KRG signed a deal on Dec. 2, 2014, whereby the latter agreed to provide a total of 550,000 bpd from the fields in the Kurdistan region and Kirkuk.
The KRG’s peshmerga forces have been in control of Kirkuk after Iraqi army units deserted their positions there in June 2014 in the face of an onslaught by Islamic State (IS) militants. Iraq’s budget law for 2015 stipulates that if either the KRG or the federal government fails to honor its “oil or financial” commitments in the law, the other side does not have to abide by it either.
The budget law stated that the KRG was entitled to 17% of the country’s total budget after certain amounts are deducted, including but not limited to the expenses of the office of president, prime minister, parliament speaker and the military.
The KRG claims it has received less than half of what it was due. In the first three months of this year, it did not deliver the agreed-upon amounts of oil to SOMO.
However, KRG officials told Al-Monitor that even when the Kurdish government delivered 562,633 bpd in April and 557,621 bpd in May, the Baghdad government still did not pay its total dues.
In May, for instance, Baghdad’s Finance Ministry paid the KRG around $420 million, which Iraq’s finance minister said was just around half of what the KRG was owed.
“The Iraqi government has not honored its commitments in the deal. They say they are short of cash,” Gardi told Al-Monitor. “And if we go by the budget law, if one side does
Butifldrm: not abide by its obligations, the other side can back off, too.”
Butifldrm: This article is pretty revealing as to the Kurds stance
Butifldrm: This is the site http://www.iraq-businessnews.com/2015/07/29/erbil-baghdad-agreement-deal-or-no-deal/2/
Butifldrm: WE know Ban Ki Moon came out earlier and said some sort of agreement must be reached
chattels: ‹@Butifldrm› That is an article posted by al monitor a couple of days ago wealthwatch.world/showthr...
Butifldrm: Chattels I'm sure they picked it up
Butifldrm: anyway it appears the Kurds are on board with an agreement
Butifldrm: and I'm sure it's under much pressure from the UN
Butifldrm: Iraq is in a bad spot they have no liquidity
BOBBY: if the Kurds are happy thats always good news
Butifldrm: The government cannot pay the Kurds their dues because many problems, but corruption has to be contained in all regions
Butifldrm: Chattels not quite the same article but still the same message
Butifldrm: I believe once they made the budget law
BOBBY: Butifldrm... question .... can the kurds legally sell oil outside of Iraq?
Butifldrm: the GOI was leggaly bound to pay the Kurds
Butifldrm: Bobby no
Butifldrm: so there in lies the problem
Butifldrm: neither the GOI not hte Kurds have withheld their end of the deal
Butifldrm: We know from previous article that the GOI has about 80% corruption rate and the Kurds have about 35%
BOBBY: Butifldrm.... question 2... wouldn't make sense to let them sell to get them paid?
Butifldrm: ‹@BOBBY› yes but the Kurds use KOMO to sell their oil thru Turkey and the GOI demands they use SOMO
BOBBY: lol .... never easy is it
Butifldrm: no not with Iraq but you have to understand one thing
BOBBY: Butifldrm. .. please continue
Butifldrm: Much of the problems going on in Iraq is about many geoplitical decisions made by many countries
Butifldrm: Sadam ruled with an iron fist he was the law
Butifldrm: and what was the value of the currency during his hayday
Butifldrm: about 3.22 it was pegged to the GBP
BOBBY: i am quite familiar... was over there for a stretch
Butifldrm: For years now the IMF have asked Iraq to liberlize not only their economy but their currency
Butifldrm: because Iraq is an emerging economy with a dominance for oil trade, pegged to the dollar, the black market has become a huge business
BOBBY: did we ever officially recognize the 3.22 value?
Butifldrm: Iraqi's work cash in their checks exchange their Dinar for dollars and increase their buying power
Butifldrm: the IMF did
Butifldrm: that's past business
Butifldrm: I believe by the time Sadam was taken out the rate was about 2.00 and some
Butifldrm: anyway we are in todays reality Iraq's infrastructure is a mess
BOBBY: i agree
Butifldrm: corruptions is out of control
chattels: ERBIL, Kurdistan Region – Kurdistan Region Prime Minister Nechirvan Barzani said Wednesday that the United Nations could supervise Erbil’s oil exports. “We are ready to resolve our issues with Baghdad. and the United Nations can supervise our oil exports,” Barzani said
Butifldrm: the CBI is spending Billions of it's reserves in the auctions to support the economy and they still have a liquidity crisis
BOBBY: Butifldrm... thank you for your thoughts and the work you do
Butifldrm: the Government is taking 50% pay cuts to fight Daash
Butifldrm: Booby thank you too
Butifldrm: and cannot pay the Kurds
Butifldrm: Booby I cannot type as u can see
Butifldrm: Still I believe there is much hope
Butifldrm: Abadi is a fair man compared to Maliki
BOBBY: i have been called worse lol
Butifldrm: We see many good things coming
Butifldrm: the CBI asking the private banks again to increase their reserves
Butifldrm: the inusurance market is picking up
Butifldrm: the cbi is not like this country that can print money at will
Butifldrm: iraq still has a much great debt to gdp ration than most Western civilizations
Butifldrm: There is some good information on this within the The Reset Thread
Butifldrm: ok guys I have to eat dinner
Butifldrm: luv ya'll
BOBBY: Chattels summed it up completely. . Abadi is a just man surrounded by unjust men
Tootsie: re: Kurds & 17% = in actuality they need to do a census (was an issue sometime back) as the percentage is directly related to the population - IF they did a current census of the whole area,
I betcha the Kurds would be closer to 25% in what their portion would be. ??? At this juncture I am sure they would be totally delighted to just get the 17% , - gosh ~~~~
Tootsie: ‹@Butifldrm› thank you for all you do !!! and the others also!!
Butifldrm: I'm hoping the Kurds and the government are finally waking up to the fact, they need each other to survive
Butifldrm: Send this Thread to a Friend Nechirvan Barzani: ready to negotiate with Baghdad to resolve differences 7/30/2015 0:00 Erbil morning showed President of the Kurdistan Regional Government Nechirvan Barzani willingness to visit Baghdad to discuss ways to address the problems relating to the budget and file oil,
and expressed his government's desire to resolve the problems and obstacles with the federal government through dialogue and Mufaaudhat.jae in a statement to the presidency of the provincial government,
seen by "the morning," he said that Barzani received, on Wednesday afternoon, in Erbil, the German Ambassador to Iraq, which "talked about the political situation in Iraq in general
and the problems between the Kurdistan Regional Government and the federal government, wishing to address the problems and obstacles through dialogue and mutual understanding, describing the federal system of government in Iraq as the best system.
"The statement added that Bruce mentioned in the context of his speech to the importance of countering terrorism, stressing the continuation of Germany in supporting and assisting Alپeshmrگh forces in the war against al" Daash "Alarhabiy.otbaka to the statement,
Barzani stressed the desire of the territorial Government in solving the problems and obstacles with the Government of Iraq Federal through dialogue and negotiations,
and expressed his willingness to visit Baghdad to discuss ways to deal with this, especially in regards to the budget and file oil problems, and expressed the readiness of the Kurdistan Regional Government to accept the international community and the United Nations to monitor the transparency and the issue of the export of the Kurdistan region of oil to the outside.
The detection head of the oil, energy and wealth natural in the House of Representatives, Ares Abdullah, about the existence of a trend towards the conclusion of a new oil agreement between the central government and the Kurdistan region of Iraq, reassuring people's sons that the oil regio
Butifldrm: which is sold abroad come revenues to them, while MP Zaher al-Abadi, the central government to take several measures including, filed a lawsuit against companies that deal with or prevent the Kurdistan region's share of the budget, as well as the Commission criticized the sale of oil to the oil region without reference to the center.
Butifldrm: www.alsabaah.iq/ArticleSh... http://www.alsabaah.iq/ArticleShow.aspx?ID=97342
keli15: Butifldrm is there any news about laws passing
chattels: no news about the passage of any laws
sczin11: GOOOOOD EVENING EVERYBODY HOPE ALL IS WELL
chattels: ‹@sczin11› you excited about the prospects of the tariffs ?
sczin11: ‹@chattels› YOU KNOW I AM EBULLIENT ABOUT THE TARIFFS....
sczin11: IF THEY ACTIVATE AS STATED, WITH NO CHANGE, IT IS ONLY A MATTER OF TIME BEFORE THEY RUN OUT OF DINAR,MAND BURY THEIR CITIZENS...AND QUITE POSSIBLY BANKRUPT THE COUNTRY...OF COURSE JMHO:)
chattels: ‹@sczin11› is there the possibility of WTO membership concurrent with the implementation of the tariffs ?
keli15: Thanks chattels. Is OOTW comin in the room again
sczin11: ‹@keli15› SHE WONT BE IN UNTIL VERY LATE..FAMILY OBLIGATIONS TONIGHT
sczin11: ‹@chattels› POSSIBILITY YES, IF THEY BECOME INTL TRADEABLE,
PROBABILITY IS THERE ARE A FEW THINGS LEFT FOR FULL ASCENSION AND I DONT THINK THEY R MEETING AGAIN ABOUT IRAQ UNTIL EARLY NEXT YEAR
sczin11: OF COURSE THAT COULD CHANGE, I PRESUME
chattels: ‹@sczin11› ty
sczin11: BUT WITHOUT MONEY LAUNDERING LAWS IN PLACE, DONT THINK WTO WOULD GET INVOLVED IF IMF AND WB ARE NOT ON SAME PAGE
sczin11: TWO MONTHS TILL DEE DAY FOR IRAQ...THE INTERNATIONAL BLACKLIST LOOMS IN THE HORIZON
sczin11: IT IS TIME TO ** OR GET OFF THE POT.....CRUNCH TIME
chattels: ‹@sczin11› don't be rushing the business - i need a happy ending :)
keli15: Chattels what ever happened to the basket of laws that was suppose to have been passed
keli15: Sczin do you know if we will see the rv this year
sczin11: ‹@keli15› NOONE KNOWS, WE CAN ONLY OPINE BASED ON THE FACTS THAT ARE PRESENTED TO US, AND OUR OWN LOGIC
sczin11: WE THEN CREATE SCENARIOS THAT MAKE SENSE ON THE SURFACE TO US..
sczin11: WHEN WE ARE WRONG, WE APOLOGIZE, AND MOVE ON TO THE NEXT APPARENT EVENT WATCH..
sczin11: PERSONALLY, I HAVE BEEN PREACHING TARIFFS SICE JANUARY 2, 2014, WHEN THEY WERE SUPPOSED TO GO IN EFFECT
sczin11: TARIFFS ADD COSTS TO PRODUCT..
sczin11: ADDED COST TO PRODUCT, HURTS THE POCKET OF EVERY SINGLE CITIZEN
sczin11: THE CITIZENS ARE POOR ALREADY
sczin11: THEY CAN NOT LIVE ON LESS THAN THEY HAVE NOW
sczin11: ABADI PLATFORMED THE PEOPLE OF IRAQ
sczin11: HIS PLAN WAS TO GIVE THEM MORE THAN WHAT THEY HAVE
sczin11: HE HAS PREACHED THE PRIVATE SECTOR AND ECONOMIC REFORM
sczin11: THE WORLD IS WATCHING
sczin11: THE WORLD IS WAITING
sczin11: THE CITIZENS ARE BEGGING FOR THE COMPLETION OF THE MONETARY REFORM
sczin11: THERE IS ONLY ONE WAY FOR THIS TO HAPPEN
chattels: ‹@keli15› the basket of laws is an idea from another site
sczin11: THEY MUST RAISE THE VALUE OF THE IRAQI DINAR, THUS INCREASING
sczin11: PURCHASING POWER....
sczin11: ‹@keli15› HOPE THAT ANSWERS YOUR QUESTION,M:)
whitelions: ‹@sczin11› YOUR LIKE WATCHING A WORD MOVIE lol
sczin11: ‹@whitelions› GE HUN
whitelions: ‹@sczin11› how go's it tonight ?
sczin11: ‹@whitelions› I AM VERY PUMPED...AS U CAN SEE
whitelions: ‹@sczin11› did you see where Abadi told the people working in parliament that since they can come to any agreements on anything he is stopping there exception from not losing there electrify and from now on they will lose theirs when the common man loses his
sczin11: SHE DIDNT EVEN STICK AROUND FOR HER QUESTION TO BE ANSWERED, OR I PUT HER TO SLEEP, LOL
whitelions: ‹@sczin11› but we all got it thanks
sczin11: ‹@whitelions› I SAW WHERE THE HOURS OF ELECTRICITY USAGE WAS NOW ONLY WHEN THEY WERE IN SESSION WORKING...DIDNT SEE IF WORDED AS U SHOW ABOVE
whitelions: it was early this morning Ill get it I loved it
vtech: if there is NO RV this year who in here can we blame
sczin11: ‹@vtech› I NEVER BOW AWAY FROM BEING ROASTED
keli15: Vtech lol no one :blush:
sczin11: ‹@vtech› BUT WHY THINK THAT WAY OUT LOAD..WHEN THERE TRULY IS UNBELIEVABLE PROGRESS IN SO MANY AREAS
keli15: Thanks sczin11 :grin:
Comments may be made at the end of Part 2 Thank you