Bucharest Romania -- extremely optimistic estimates of the evolution of the economy in the next four years is not the only weak spot of the budget. Even if we overlook "transparency" easily, what about prudency? Hasn't the CNP learned anything, and more so our authorities, from the lesson of the crisis that began in 2008? Where does this optimism concerning the evolution of the economy over the next four years come from, when the global trade "landscape" is precisely in the process of undergoing a transformation following the victory of the Trump administration, and the problems of the EU are going through a new phase of worsening? The report also states that the "potential GDP will increase at an annual growth rate of 5.1%", whereas "the gap between the GDP and the potential GDP levels expressed as a percentage of the potential GDP will be closed in 2018". But don't we have the opinion of some NBR officials, that the output gap was closed as early as 2013 or Q2 2016? Aside from "faith", we must not forget that the methods for estimating the difference between the potential GDP and the real GDP are more or less mechanical, as they are heavily influenced by the growth of lending. Does the new government believe that we are back to the period of "growth" based on cheap loans and ultra-lax lending norms? It would seem so, because the report concerning the macroeconomic situation in the next years reflects an unrealistic approach of the evolution of borrowing costs. The governmental report also shows that "the yields of government bonds have followed a downward trend in the first three quarters of 2016, and then rise was mostly due to a number of foreign events".

The templates for recent relationships between the American Head of State and the British Head of Government have not been inspiring. We had Mr Blair’s obsequiousness to Mr Clinton and Mr Bush; Mr Brown’s near-invisibility to Mr Obama; and the conspiracy of cynicism between Mr Cameron and Mr Obama that led to the disastrous (from Mr Cameron’s point of view) interference by the last president in our referendum campaign. Watching the press conference held by Mrs May and President Trump, it seemed this Prime Minister had, commendably, adopted a dignified approach of her own.  Indeed, I would go further: from what emerged, Mrs May seemed to have done a superb job in furthering British interests, and those of the West, in her meeting with Mr Trump. She should be congratulated. She acted precisely in accordance with the realities of our present politics. There was no fawning.

The AP and other media outlets reported earlier this week that emails sent internally to EPA staff mandated a temporary blackout on media releases and social media activity, as well as a freeze on contract approvals and grant awards.  Ericksen said Tuesday that the agency was preparing to greenlight nearly all of the $3.9 billion in pending contracts that were under review. Ericksen said he could not immediately provide details about roughly $100 million in distributions that will remain frozen.  The uncertainty about the contract and grant freeze coupled with the lack of information flowing from the agency since Trump took office have raised fears that states and other recipients could lose essential funding for drinking water protection, hazardous waste oversight and a host of other programs. The agency also took a potential first step Tuesday toward killing environmental rules completed as President Barack Obama's term wound down. At least 30 were targeted in the Federal Register for delayed implementation, including updated pollution rulings for several states, renewable fuel standards and limits on the amount of formaldehyde that can leach from wood products.  Jared Blumenfeld, who served until last year as EPA's regional administrator for California and the Pacific Northwest, compared what is happening to a "hostile takeover" in the corporate world.  "Ericksen and these other folks that have been brought in ... have basically put a hold on everything," said Blumenfeld, who regularly speaks with former colleagues still at the agency. "The level of mismanagement being exercised during this transition is startling and the impact on the public is alarming."  For example, he said EPA employees aren't clear whether they can direct contractors who handle all of California's Superfund sites. Some EPA employees have taken to their own social media accounts to say what's happening inside the agency, despite fears of retaliation.  "There's a strong sense of resistance," Blumenfeld said.

The Trump administration is scrutinizing studies and data published by scientists at the Environmental Protection Agency, while new work is under a "temporary hold" before it can be released.  The communications director for President Donald Trump's transition team at EPA, Doug Ericksen, said Wednesday the review extends to all existing content on the federal agency's website, including details of scientific evidence showing that the Earth's climate is warming and man-made carbon emissions are to blame.  Ericksen clarified his earlier statements he made to The Associated Press, which reported that the Trump administration was mandating that any studies or data from EPA scientists undergo review by political appointees before they can be released to the public. He said he was speaking about existing scientific information on the EPA website that is under review by members of the Trump administration's transition team. He said new work by the agency's scientists is subject to the same "temporary hold" as other kinds of public releases, which he said would likely be lifted by Friday. He said there was no mandate to subject studies or data to political review. Former EPA staffers under both Republican and Democratic presidents said the restrictions imposed under Trump far exceed the practices of past administrations. Ericksen said no decisions have yet been made about whether to strip mentions of climate change from epa.gov

 

 

Bucharest - the extremely optimistic estimate of the evolution of the economy in the next four years is not the only weak spot of the budget. Even if we overlook "transparency" easily, what about prudency? Hasn't the CNP learned anything, and more so our authorities, from the lesson of the crisis that began in 2008? Where does this optimism concerning the evolution of the economy over the next four years come from, when the global trade "landscape" is precisely in the process of undergoing a transformation following the victory of the Trump administration, and the problems of the EU are going through a new phase of worsening? The report also states that the "potential GDP will increase at an annual growth rate of 5.1%", whereas "the gap between the GDP and the potential GDP levels expressed as a percentage of the potential GDP will be closed in 2018". But don't we have the opinion of some NBR officials, that the output gap was closed as early as 2013 or Q2 2016? Aside from "faith", we must not forget that the methods for estimating the difference between the potential GDP and the real GDP are more or less mechanical, as they are heavily influenced by the growth of lending. Does the new government believe that we are back to the period of "growth" based on cheap loans and ultra-lax lending norms? It would seem so, because the report concerning the macroeconomic situation in the next years reflects an unrealistic approach of the evolution of borrowing costs. The governmental report also shows that "the yields of government bonds have followed a downward trend in the first three quarters of 2016, and then rise was mostly due to a number of foreign events". Unfortunately, we are not given a forecast of borrowing costs until 2020. Even though the president of the PSD has participated in the festivities for the instatement of the new president of the United States, the "expertise" he gained from that has not included the transparency provided by institutions such as the Congressional Budget Office (CBO) or Government Accountability Office (GAO), even though their forecasts are unrealistic as well.

NIS, subsidiară a Gazprom, începe operaţiunile de foraj în perimetrele concesionate în vestul României

Lucrările de forare la prima sondă de explorare a ţiţeiului şi gazelor naturale în perimetrul EX-7 Periam din Bazinul Panonic, din vestul României, au început pe 21 ianuarie 2017. Sonda va fora la o adâncime de 2.500 de metri, iar lucrările de forare şi testare a sondei vor dura între 50 şi 60 de zile, în conformitate cu standardele ecologice, se arată în anunţul companiei.  Firma NIS, subsidiară a gigantului rusesc Gazprom, împreună cu firma canadiană East West Petroleum, are în concesiune patru perimetre petroliere în Bihor şi Timiş (EX-2 Tria, EX-3 Baile Felix, EX-7 Periam şi EX-8 Biled) cu o suprafaţă de peste 4.000 de km pătraţi în Bazinul Panonic. Arealul a fost anterior controlat de Petrom, dar nu a fost activ explorat în ultimii 20 de ani. Perimetrele sunt deţinute în proporţie de 85% de NIS şi 15% de compania canadiană  NIS va finanţa 100% din cheltuieli şi va duce East West prin fazele 1 şi 2 ale explorării, în schimbul a 85% din perimetru, spune East West Petroleum, companie listată pe Bursa de la Toronto.  În octombrie 2011, East West Petroleum a intrat într-un acord cu Naftna Industrija Srbije (NIS), subsidiară a gigantului Gazprom, care va finanţa în totalitate costul primei faze a programului, estimat de canadieni la 60 de milioane de euro. Această primă fază include date seismice 3D şi forarea a 12 sonde, pe o perioadă de doi ani.  Dacă partenerii extind lucrările la oricare dintre cele patru perimetre în cea de-a doua fază, NIS va continua să finanţeze costurile de explorare, estimate tot la 60 de milioane de euro.  Sârbii de la NIS a început 2014 operaţiunile de explorare petrolieră în perimetrele Periam şi Biled şi au realizat lucrări de prospectare seismică.NIS mai deţine în România, pe lângă concesiunea perimetrelor din vestul ţării, şi o reţea de benzinării, operată sub brandul Gazprom.(sursa NIS press)

Donald Trump is planning a new deal for Britain this week as Theresa May becomes the first foreign leader to meet him since the inauguration. 

With hundreds of thousands of people across the world protesting his presidency, Mr Trump’s team was working with Number 10 to finalise plans for White House talks.

Mr Trump has even taken to calling Mrs May “my Maggie” in reference to the close Thatcher-Reagan relationship he wants to recreate, according to sources....

The historic trip comes as: 

• A deal to reduce barriers between American and British banks through a new “passporting” system was being considered by Mr Trump’s team
• A US-UK “working group” was being prepared to identify barriers to trade and scope out a future trade deal
• A joint statement on defence was expected to demand EU countries spend 2 per cent of GDP on defence and promise collaboration in tackling Isil

More than 60 million people in this country are hopeful — they want Mr. Trump to work on behalf of them to restore jobs in their dilapidated towns, to improve the education for their children, to help unite this fractious Republic, by making the American dream obtainable to all Americans.  They’ll dance at the balls this weekend, or toast champagne from within their homes. All are uncertain at what a Trump presidency may bring, but they are willing to give the man a chance.  All but the mainstream media that is.  Network heads and newspaper editors are filled with anxiety — yes, Mr. Trump’s supporters are jubilant, but the other half of this nation (including most within their own newsrooms) are devastated. And to them, that devastation is more powerful, more convincing. And thus, their coverage has reflected those fears, and none of the optimism.