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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Trump poses a threat to Iraq's budget

    Rocky
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    • Post n°1

    Trump poses a threat to Iraq's budget Empty Trump poses a threat to Iraq's budget

    Post by Rocky Fri 08 Nov 2024, 4:16 am

    Trump poses a threat to Iraq's budget

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    Baghdad Today - Baghdad 
    Financial expert Nabil Al-Marsoumi said today, Thursday (November 7, 2024), that the new US President, Donald Trump, will pose a threat to Iraq's budget.
    Al-Marsoumi explained to Baghdad Today that “Trump wants, during his term in office, to work on reducing oil prices by half, and he will work on that by reducing the price of American oil, and this will lead to a decrease in oil prices globally and even a decrease in demand for it in the market.”
    He explained that "this matter will greatly harm Iraq, as it depends mainly on financing its annual budget through the sale of oil, and any decrease in those prices will affect the provision of funds to investment or operational budgets. Therefore, Trump's arrival to the White House poses a real danger to Iraq's budget due to the trend towards reducing oil prices."
    Fox News announced yesterday, Wednesday (November 6, 2024), that Republican candidate Donald Trump had won the US presidential election .
    The United States has a special system for US presidential elections, where the election results are not based on the popular vote but on the Electoral College system, which consists of 538 votes. The winner must obtain at least 270 votes in the Electoral College (the “50%+1” ratio) in order to win the presidency of the United States .
    Observers say that there are two factors that will lead to a decline in oil prices after Trump wins the US presidency. The first is his pledge to resume oil and gas exploration throughout the US and the expected trade war with China, which will reduce demand for oil due to the strength of the dollar.
    Global oil markets received the news of Republican candidate Donald Trump's victory in the US presidency, with a decline of more than 2%, before the losses narrowed slightly yesterday, Wednesday.
    At the end of Wednesday's session, the price of Brent crude futures for January delivery fell by 1.5% to $74.3 per barrel, compared to the close of Tuesday's session.
    However, two factors have affected oil prices, and are expected to continue during the first months of the new US president’s term, in anticipation of practical steps announced regarding the oil industry in the United States.
    In a speech to his supporters on Wednesday, Trump stressed that the next four years will be an economic golden age for the United States, saying: “We will close the borders and we will not allow illegal immigration to continue.”
    “We won the Senate, we won the swing states, and I became the 47th president of the United States,” Trump said in a speech to supporters in Florida.
    Last October, Trump appeared before a crowd of his supporters and addressed the subject of oil, summing up his energy policy with the phrase “drill, son, drill,” referring to more drilling, exploration and prospecting.
    This policy includes a broad resumption of oil and gas licensing and a halt to offshore wind energy projects, which he claims are “killing” whales and birds, “from day one” in the White House.
    Trump also pledged to end green tax credits and subsidies for green energy, continuing his policy of traditional energy since he was president 8 years ago.
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