Submitted by Charles Hugh-Smith of OfTwoMinds blog, The energy boom directly reduces the number of U.S. dollars being supplied to the global economy, and that pushes the value of the dollar higher. The petrodollar regime--that oil is bought and sold globally in U.S. dollars--is easy to understand. It boils down to these two principles:
IQALUIT, Nunavut — Western provinces have a genuine, pressing need for skilled labour and the federal government’s recent overhaul of its temporary foreign worker program goes too far, the interim Alberta premier said Thursday.
“All of us agree that the changes are detrimental to our jurisdictions,” Dave Hancock said at the end of a brief western premiers’ conference hosted in Iqaluit, in the eastern Arctic, by Nunavut Premier Peter Taptuna.
BAGHDAD – Since the U.S.-led invasion of 2003, Iraq has become one of the world’s top oil producers, and China is now its biggest customer.
China buys nearly half the oil that Iraq produces, nearly 1.5 million barrels a day, and is angling for a bigger share, bidding for a stake now owned by Exxon Mobil in one of Iraq’s largest oil fields.
The Chinese had nothing to do with the war, but from an economic standpoint they are benefiting from it
Ed. Note: This post is part of the Spotlight on Commerce series, which
highlights members of the Department of Commerce who are contributing to the
president's vision of winning the future through their work.
Suresh Kumar is the Assistant Secretary for Trade Promotion and
Director General for the U.S. and Foreign Commercial Service.
Asian Pacific American Month gives you time to reflect on your origin,
your country of birth and learning through and across cultures. It is conveying these assets, experiences and
skills that build a better community and a better country. At the U.S. Commercial Service, improving
opportunities for American businesses domestically and abroad is what drives
me. It is why I'm behind President
Obama's plan to win the future. To do so, we must out-innovate, out-educate and
connect U.S. businesses to the 95% of consumers who live outside the U.S. This is my key responsibility: connecting U.S. businesses to global
opportunities. This lays the foundation
for a strong, sustainable economy in the United States and beyond.
I am privileged to lead a service with almost 1500 trade professionals
who assist American enterprises everyday to connect to global partners and to
new markets. Of the U.S.'s 30 million
companies, only 1% or 280,000 companies export and of those who do, 58% export
to only one market. We can and we must
do better, and it is this challenge and opportunity that the US&FCS trade
specialists and I focus on each day.
This country needs more exporters and potential entrepreneurs and
exporters amongst you do not have to go it alone - you have the full support of
the U.S. Government in connecting you to global partners and global markets.