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Debt Arrangement Scheme

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Financial debt occurs when money is owed to one or more creditors. Although a certain amount of debt can be manageable, and even a part of financial strategy, it can escalate (for example through growing interest) and the debtor can quickly lose control and soon owe more than they are capable of paying back. Debt can be a massive burden as creditors can take legal action to recover what they are owed if payments are not made on time, and this can result in bankruptcy.

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Where Will the Price of Oil Go From Here?


Oil is at $98.50 this morning ? the highest in a month. That release of strategic reserves is working out like gangbusters, eh?

Heck, Barron?s had a cover story a few days ago about oil reaching $150 by next spring. It cited some of the same data we cited four months ago, about ?spare capacity? ? or lack thereof.

?Spare capacity,? we pause to remind you, is the ability of oil producers to jump-start new oil production within 30 days and keep it up for at least 90 days.

According to Morgan Stanley, ?spare capacity? will be tapped out in two years… and that?s based on figures before the war in Libya took that nation?s 1.5 million barrels per day offline.

The realities of shrinking spare capacity are becoming more evident by the day. To wit…

The International Energy Agency warns that unless OPEC can raise production by 1.5 million barrels a day ? about the same as that lost Libyan production ? global demand oil demand will start to outrun available supply between now and year-end.

Thus, ?If there is not enough supply to match the 89 million barrels of oil the global economy is expected to burn every day,? says former CIBC World Markets chief economist Jeff Rubin, ?world oil prices have only one direction to go.?

?With no obvious end in sight to the Libyan conflict,? Mr. Rubin continues, ?and sectarian violence against oil fields and refineries suddenly on the rise in Iraq ahead of the scheduled U.S. troop withdrawal, the prospects are not promising for OPEC to increase supplies.

?This is even more evident given the region?s largest producer, Saudi Arabia, has little more to offer other than unwanted sour, heavy oil to add to the global supply mix.?

It?s not that the Saudi sheiks aren?t trying. Production in the kingdom rose nearly 4% last month, to 9.7 million barrels per day.

Thing is, only half of that increase hit the international market. The rest went to Saudi Arabia?s own refineries for ?power generation and water desalination plants during the peak summer season,? according to an IEA report out yesterday.

Two more factors spurring oil demand: power shortages in China and Japan. Because of drought in China, hydropower plants can?t generate as much electricity. Diesel generators are making up the difference.

Diesel is also making up the difference in Japan after the Fukushima disaster. Two-thirds of the country?s nuclear capacity is offline… and won?t be coming back online anytime soon.

Thus, oil stands to be a profitable play for some time to come ? even if what passes for a ?recovery? in the United States ends up stalling out.

How to play it?

?About one-fifth of the domestically produced oil in the U.S. comes from Alaska,? observes Chris Mayer, who?s been examining the investing possibilities. ?But these assets have been in long decline. Production of crude oil is down more 70% from its high in the 1980s.?

With existing fields declining, and Washington keeping new fields off-limits, Big Oil is bailing on Alaska ? or at least some of its historically prolific regions.

Chevron, for instance, decided recently to dump its holdings in the Cook Inlet area. ?The decision comes as production from Cook Inlet oil and gas fields is declining,? reports the Anchorage Daily News, ?typically, a period when big energy companies lose interest in their investments and smaller operators jump in.?

For those smaller operators, there?s a surprising amount of oil yet to be tapped. ?Nearly all of the operating oil and gas fields in Cook Inlet derive from exploration done in the 1950s and 1960s,? explains Petroleum News.

Then the giant Prudhoe Bay field was discovered and everyone ran off to work there instead. ?As a consequence,? the trade publication goes on to say, ?only limited exploration of Cook Inlet has taken place in more recent decades.?

That?s not the only incentive for a small operator to work over a place like Cook Inlet.

?Some 80% of state revenues depend on oil and gas extraction,? says Chris. ?It employs thousands of people. Those people in turn support shops, restaurants, and the whole wheel that is a community.

?So the state government created some sweetheart deals for oil and gas companies to spend money here. Among these goodies is a 40% state refund on money spent for drilling and exploration costs ? paid in cash to the operator. There are other laws in place that could refund as much as 20% of other costs and 25% of net losses incurred.?

?For a small operator looking to get a sweet return on a moderate-sized pot of money, Alaska is like the El Dorado of oil and gas.”

Addison Wiggin
for The Daily Reckoning

Where Will the Price of Oil Go From Here? originally appeared in the Daily Reckoning. The Daily Reckoning provides 400,000+ readers economic news, market analysis, and contrarian investment ideas. The Daily Reckoning features articles on the debt crisis, the debt ceiling and the day QE2 ended.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/a3zuoz1tDl8/where-will-the-price-of-oil-go-from-here-2011-7

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Bin Laden Plotted Attacks For 10th Anniversary Of 9/11


Bin Laden

Osama bin Laden was assembling a team of Al Qaeda operatives to launch attacks on the 10th anniversary of 9/11, The Wall Street Journal reports.

Quoting senior U.S. officials, the paper says that before bin Laden was killed by Navy Seals in May, the al Qaeda leader was in the "discussion phase" of planning an attack to coincide with this September's remembrance ceremonies.

The officials said they had no indication that the plans ever became (or are) operational.  They added that they have no idea what targets bin Laden and his associates considered attacking.

Read the full report at The Wall Street Journal here:

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Source: http://feedproxy.google.com/~r/businessinsider/~3/pTBOuK05aC0/bin-laden-plotted-attack-for-10th-anniversary-of-911-2011-7

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CONFIRMED: Negotiations Still On For Iraq To Buy F-16 Fighter Jets


fighter jets

Iraq is quietly continuing negotiations to buy as many as 36 F-16 fighter jets from Lockheed Martin's Fort Worth production center, according to the Defense Security Cooperation Agency.

Paul J. Ebner, public affairs officer for the agency, told Business Insider in an email, "A Letter of Offer and Acceptance is expected to be presented to the Government of Iraq in Aug. At that time the Iraqi government will have the opportunity to accept the LOA or not."

Iraqi government spokesman Ali al-Dabbagh told Bloomberg Tuesday that a lack of funds was still preventing the Iraqi government from seeking to procure the fighter jets. However, a spokesman for U.S. Forces-Iraq told the WSJ that Iraq expressed new interest in the deal after reaping as much as $10 billion in unexpected oil revenue.

The Iraqi government came close to signing a deal with the US for 18 F-16 jets at a price tag of up to $4.2 billion last year, but ultimately backed down in order to utilize its funds elsewhere.

The WSJ report also indicated that Oman may also have entered into new talks for F-16 jets.

Iraq has long expressed a desire to rebuild its military, particularly with the possible departure of the remaining 46,000 American troops December 31. Prime Minister al-Maliki has not yet decided whether to ask the U.S. to keep some troops in the country after the end of year.

 

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Source: http://feedproxy.google.com/~r/businessinsider/~3/rKdYYRLfhmU/report-deal-back-on-for-iraq-to-buy-us-fighter-jets-2011-7

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CONFIRMED: Negotiations Still On For Iraq To Buy F-16 Fighter Jets


fighter jets

Iraq is quietly continuing negotiations to buy as many as 36 F-16 fighter jets from Lockheed Martin's Fort Worth production center, according to the Defense Security Cooperation Agency.

Paul J. Ebner, public affairs officer for the agency, told Business Insider in an email, "A Letter of Offer and Acceptance is expected to be presented to the Government of Iraq in Aug. At that time the Iraqi government will have the opportunity to accept the LOA or not."

Iraqi government spokesman Ali al-Dabbagh told Bloomberg Tuesday that a lack of funds was still preventing the Iraqi government from seeking to procure the fighter jets. However, a spokesman for U.S. Forces-Iraq told the WSJ that Iraq expressed new interest in the deal after reaping as much as $10 billion in unexpected oil revenue.

The Iraqi government came close to signing a deal with the US for 18 F-16 jets at a price tag of up to $4.2 billion last year, but ultimately backed down in order to utilize its funds elsewhere.

The WSJ report also indicated that Oman may also have entered into new talks for F-16 jets.

Iraq has long expressed a desire to rebuild its military, particularly with the possible departure of the remaining 46,000 American troops December 31. Prime Minister al-Maliki has not yet decided whether to ask the U.S. to keep some troops in the country after the end of year.

 

Please follow Politics on Twitter and Facebook.

Join the conversation about this story »

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Source: http://feedproxy.google.com/~r/businessinsider/~3/rKdYYRLfhmU/report-deal-back-on-for-iraq-to-buy-us-fighter-jets-2011-7

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Check Out Of Starwood Before Off-Balance Sheet Loophole Closes

By exploit­ing the off-balance sheet oper­at­ing lease loop­hole, Star­wood Hotels & Resorts Worldwide was able to omit nearly $1 bil­lion in debt from its balance sheet in 2010, $200 mil­lion (20% of the total) of which was added in 2010.

Source: http://blogs.forbes.com/greatspeculations/2011/07/13/check-out-of-starwood-before-off-balance-sheet-loophole-closes/

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One Biotech Stock to Avoid

Each week, Motley Fool editors cull a top stock idea from the pitches made on CAPS, The Motley Fool's 170,000-member free investing community. Want your idea considered for this series? Make a compelling pitch on CAPS with a minimum length of 400 words. Want to follow our weekly picks? Subscribe to our RSS feed or follow us on Twitter.

Vical Profile

Sources: Capital IQ (a division of Standard & Poor's), Yahoo! Finance, and Motley Fool CAPS.

This Week's Pitch
 

I won't get too deeply into statistical analysis of Allovectin phase 2 data and the phase 3 performance of comparators. The reason for that is people will never see eye to eye regarding the utility of comparing survival in single-arm trials to historical data. I personally don't feel the comparison is valid, but if you do believe in it then the Allovectin phase 2 data looks pretty good.

The real reason behind my red thumb here is the high rate of failure of phase 3 trials of immunotherapeutics, and the high rate of failure in phase 3 trials in melanoma. Yes, there are just enough candidates that squeak by, such as [Dendreon's (Nasdaq: DNDN  ) ] Provenge and [Bristol-Myers Squibb's (NYSE: BMY  ) ] Yervoy to keep life interesting. But the historical odds against Allovectin are high.

The timing of phase 3 data release has been pushed back indefinitely because of a lower-than-expected death rate in the trial. I've seen this same issue touted as a guarantee of trial success in many other cases, only for those hopes to be squashed when the real reason turned out to be better-than-expected comparator numbers. I'm expecting the phase 3 trial to reveal no statistically significant survival benefit of Allovectin, attributed to survival with dacarbazine better than historical performance. 24-week response rates could be higher with Allovectin, but without the survival benefit that has been shown with Yervoy and Roche's (OTC BB: RHHBY.PK) vemurafenib the drug is likely dead in the water commercially.

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Source: http://www.fool.com/investing/general/2011/07/13/one-biotech-stock-to-avoid.aspx

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Weighing the Pros and Cons of Financial debt Consolidation: Is Financial debt Consolidation What You Require?

In our society, it is not in widespread to get persons who are deep in financial debt. This financial debt can come from a variety of sources these kinds of as credit card payments, student loans, home loan loans and other forms of arrears. The clear matter is that wherever one’s financial debt arrives from, [...]

Source: http://www.legaldebthelponline.com/2011/07/12/weighing-the-pros-and-cons-of-financial-debt-consolidation-is-financial-debt-consolidation-what-you-require/

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