Thursday Over Easy will continue Southern Dragon’s tradition of drawing in news from all over the spectrum that we don’t find in everyday reporting by our usual media.

As the price of oil stays in lowered figures around the world, nations that have a major dependence on petroleum sales are finding their balance sheets tilting against them.  Service contracts based on previous prices are requiring the countries receiving oil services to pay with increasing amounts of the oil extracted.

As a result, sources say, Iraq is not providing the service companies with the repayment volumes they are due and is instead sometimes assigning more cargoes to companies who purchase its crude for cash under term contracts in monthly export schedules.
The current situation contrasts sharply with previous years when Iraqi service contracts were seen as a thin reward for the huge work the companies were doing in Iraq. But their appeal increased with the drop in oil prices.

Environmental tours are bringing tourists into contact with other cultures, often without real profits to the communities they visit.   An Ecolodge in Guatemala’s Amazon area reflects that economy.

They photograph the children and show the photos to the children, who delight in swiping their fingers across the smartphone screens. …The naturalist guide says that the tourists are lucky, sometimes Weba doesn’t want to talk. He gives her a machete and a bag of food. “She says thank you, now we will eat well tonight,” he tells the tourists. At the end of the visit, Weba gives each tourist a Huaorani name. The naturalist guide tells them, “She says now you are part of the Huaorani family, like brothers.” The tourists, thrilled, pose for photos with Weba.

Offshoring profits by businesses that produce mainland U.S. gains while keeping its earnings from benefiting the country where they are produced will continue unabated under economic domination from the right wing.

“For six years the president has pursued higher taxes and higher spending, and our economy has paid the price. This budget is simply more of the same,” said House Ways and Means Committee Chairman Paul Ryan, R-Wis.
Yet behind such a stance lie powerful business interests that have long stored cash offshore rather than paying U.S. taxes. Representing hundreds of multinational companies, the U.S. Chamber of Commerce and Business Roundtable successfully defended against more modest tax reforms in Obama’s first term.
The Chamber, which spent $33 million for Republicans and against Democrats in the last election cycle, described his budget as “more spending, more taxes, more debt.”

Ruth Calvo

Ruth Calvo

I've blogged at The Seminal for about two years, was at cabdrollery for around three. I live in N.TX., worked for Sen.Yarborough of TX after graduation from Wellesley, went on to receive award in playwriting, served on MD Arts Council after award, then managed a few campaigns in MD and served as assistant to a member of the MD House for several years, have worked in legal offices and written for magazines, now am retired but addicted to politics, and join gladly in promoting liberals and liberal policies.