tag:blogger.com,1999:blog-38506514234343410152024-03-13T16:45:53.603-06:00OIW Trust Associates LLCOIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.comBlogger97125tag:blogger.com,1999:blog-3850651423434341015.post-58478349278703163772023-12-09T07:15:00.000-07:002023-12-09T07:15:47.390-07:00Wishing you a Joyous Holiday Season and New Year<p>Everyone at OIW Trust Associates wishes you and your family a very happy holiday season.</p><p>To be able to spend holidays with family and friends, and continue our support of Israel, our office will close at 5 p.m. on December 22, 2023, and will reopen on January 2, 2024.</p><p>Best wishes for a happy and prosperous New Year!</p>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-77196291304099699842023-09-30T13:10:00.002-06:002023-09-30T13:10:59.897-06:00FinCEN Issues Compliance Guide to Help Small Businesses Report Beneficial Ownership Information<p> <span style="background-color: white; color: #666666; font-family: SourceSansProRegular, "Helvetica Neue", Arial, sans-serif; font-size: 0.85em; text-align: justify;">September 18, 2023</span></p><div class="views-field views-field-body" style="background-color: white; box-sizing: border-box; color: #333333; font-family: SourceSansProRegular, "Helvetica Neue", Arial, sans-serif; font-size: 14px; text-align: justify;"><div class="field-content" style="box-sizing: border-box;"><p style="box-sizing: border-box; margin: 0px;">WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a <a href="https://www.fincen.gov/sites/default/files/shared/BOI_Small_Compliance_Guide_FINAL_Sept_508C.pdf" style="background-color: transparent; box-sizing: border-box; color: #046b99; text-decoration-line: none;">Small Entity Compliance Guide</a> to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule. Starting in 2024, many entities created in or registered to do business in the United States will be required to report information about their beneficial owners—the individuals who ultimately own or control a company—to FinCEN.</p><p style="box-sizing: border-box; margin: 0px;"><br /></p><p style="box-sizing: border-box; margin: 0px;"><a href="https://www.fincen.gov/">United States Department of the Treasury Financial Crimes Enforcement Network | FinCEN.gov</a></p><p style="box-sizing: border-box; margin: 0px;"><br /></p><p style="box-sizing: border-box; margin: 0px;"><a href="https://www.fincen.gov/news/news-releases/fincen-announces-15-million-civil-money-penalty-against-shinhan-bank-america">FinCEN Announces $15 Million Civil Money Penalty Against Shinhan Bank America for Violations of the Bank Secrecy Act | FinCEN.gov</a></p></div></div>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-62750399489446300042023-06-12T08:29:00.002-06:002023-06-12T08:29:52.292-06:00Supreme Court: Yes, the IRS Can Secretly Obtain Your Bank Records<a href="https://www.kiplinger.com/taxes/supreme-court-irs-can-secretly-obtain-bank-records">Supreme Court: Yes, the IRS Can Secretly Obtain Bank Records | Kiplinger</a>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-72127027053807490692021-09-16T11:51:00.005-06:002021-09-16T11:51:49.324-06:00Message from Management - Liberals Not Welcome<div>If you voted for, support or continue to support and stand behind the worthless, inept and corrupt administration currently inhabiting the White House that is complicit in the death of our servicemen and women in Afghanistan, please take your business elsewhere.</div><div><br /></div><div>Management</div>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-71521312915233307092020-10-30T03:43:00.002-06:002020-10-30T03:43:33.896-06:00Don't wait until its to late to plan for a Biden Presidency<p> <b>TRUMP on-</b></p><p><br /></p><p>TAXES</p><p>The last four years have seen the largest tax cuts in history - $5.5T</p><p><br /></p><p>ESTATE</p><p>Trump DOUBLED federal estate tax exemptions</p><p><br /></p><p>REQUIRED DISTRIBUTIONS</p><p>Required distribution age has increased from 70.5 to 72</p><p><br /></p><p>STOCKS</p><p>CS&P 500 is up 60%, Nasdaq up 120%, Dow Up 50% since Nov. 2016</p><p><br /></p><p>HEALTHCARE</p><p>Privatized Medicare could increase choice but also costs</p><p><br /></p><p><span style="color: red;"><b>BIDEN on-</b></span></p><p><br /></p><p>TAXES</p><p>Biden likely to undo Trump tax cuts, increase corp and payroll taxes, surtax on high income</p><p><br /></p><p>ESTATE</p><p>Potential to increase to estate taxes and reduce exemptions</p><p><br /></p><p>CAPITAL GAINS</p><p>Possible increase tax on Cap Gains</p><p><br /></p><p>SOCIAL SECURITY</p><p>Remove limits on Soc. Sec. Payroll Taxes</p><p><br /></p><p>HEALTHCARE</p><p>Keep and bolster Obamacare</p><p><br /></p><p><b>"Radical Left or Conservative Right, there's only one person responsible for taking action...the person in the mirror."</b></p>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com1tag:blogger.com,1999:blog-3850651423434341015.post-13296717900211280912019-06-07T06:58:00.001-06:002019-06-07T06:58:05.467-06:00IMF Staff Completes 2019 Article IV Mission on Iraq<span style="-webkit-text-stroke-width: 0px; background-color: #efefef; color: #2c2825; display: inline !important; float: none; font-family: MuseoSans-300,Helvetica,sans-serif; font-size: 12.93px; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span style="-webkit-text-stroke-width: 0px; background-color: white; color: #a2a09b; display: inline !important; float: none; font-family: MuseoSlab-500; font-size: 16px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">May 6, 2019</span><b></b><i></i><u></u><sub></sub><sup></sup><strike></strike></span><br />
<span style="-webkit-text-stroke-width: 0px; background-color: #efefef; color: #2c2825; display: inline !important; float: none; font-family: MuseoSans-300,Helvetica,sans-serif; font-size: 12.93px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><br /></span>
<span style="-webkit-text-stroke-width: 0px; background-color: #efefef; color: #2c2825; display: inline !important; float: none; font-family: MuseoSans-300,Helvetica,sans-serif; font-size: 12.93px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision. </span><br />
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<li style="margin-bottom: 10px;">Near-term vulnerabilities subsided in 2018, with the budget in surplus and a build-up in central bank reserves. Post-war reconstruction has been limited so far.
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<li style="margin-bottom: 10px;">Fiscal deficits are projected to rise over the medium term, absent policy changes, and it will be hard to sustain capital spending. Growth is likely to slow markedly.
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<li style="margin-bottom: 10px;">Tight control over current spending, particularly wages, and phased measures to boost non-oil revenue would make space for scaling up public investment and building fiscal buffers.
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<span>An International Monetary Fund (IMF) team led by Gavin Gray visited Amman from April 26 to May 2, to hold discussions with the Iraqi authorities in the context of the 2019 Article IV Consultation. At the end of the visit, Mr. Gray made the following statement:</span></div>
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<span>“The end of the war with ISIS and a rebound in oil prices provide an opportunity to rebuild the country and address long-standing socio-economic needs. However, the challenges to achieving these objectives are formidable. The economic recovery has been sluggish, post-war reconstruction is limited, and large current spending increases risk placing the public finances and central bank reserves on an unsustainable path. Moreover, combatting corruption is critical to promote the effectiveness of public institutions and to support private-sector investment and job creation.</span></div>
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<span>“Near-term vulnerabilities subsided in 2018, with the budget in surplus and a build-up in central bank reserves. Non-oil growth is expected to increase to 5.4 percent in 2019 on the back of higher investment spending. However, fiscal deficits are projected to rise over the medium term, requiring financing that may crowd out the private sector or erode central bank reserves. In these circumstances, it would be hard to sustain capital spending, and growth would slow markedly.</span></div>
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<span>“Policy changes and structural reforms—including to improve governance—are therefore essential to maintain medium-term sustainability and lay the foundations for inclusive growth. </span></div>
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<span>“Fiscal policy should aim to scale up public investment gradually while building fiscal buffers. To make space for this, staff recommends budgetary savings of around 9 percent of GDP over the medium term through tight control of current spending, particularly public-sector wages, and phased measures to boost non-oil revenue. Setting ceilings on current expenditure in the 2020 budget onwards would strengthen the fiscal framework’s capacity to support higher capital spending and to adapt to oil price shocks. Key reforms should include: </span><span> </span></div>
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<span>Containing public-sector wages. Spending pressures could be dampened in the short run through compensation measures such as capping allowances, bonuses and other non‑base wage payments, and by not fully replacing retirees. Structural measures will be required over the medium term, based on a functional workforce review as well as deeper civil service reform once new HR management and information systems are in place. </span><span> </span></div>
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<span>Electricity reforms are key to addressing the weak quality of service and reducing the high budgetary costs, due to modest tariff rates, chronic non-payment of electricity bills, poor maintenance and over-reliance on expensive generation sources, coupled with losses throughout the generation, transmission, and distribution process. It would be important to ensure that the poor and most vulnerable are protected throughout this reform. </span><span> </span></div>
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<span>Bolstering public financial management. Enhancing the legal framework and improving commitment and other control systems are key to minimizing misuse of public resources and restoring budgetary discipline. </span><span> </span></div>
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<span>“In the financial sector, a robust plan to restructure the large public banks coupled with enhanced supervision is essential to secure financial stability and will help promote financial development and inclusion. Strengthening anti-money laundering and countering financing terrorism (AML/CFT) controls and oversight will help prevent Iraq’s financial sector from being misused for the laundering of criminal proceeds and terrorist financing.</span></div>
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<span>“Addressing governance weaknesses and corruption vulnerabilities is critical to achieving the described policy objectives. As a first step, the authorities need to develop a comprehensive understanding of the corruption risks present in Iraq and then implement policies to tackle these risks in a coherent and coordinated manner. The legislative framework needs to be strengthened to effectively prevent officials from abusing their position or misusing state resources. To this end, laws strengthening the asset declaration regime and criminalizing illicit gains should be rapidly adopted. Furthermore, the independence and integrity of bodies involved in combatting corruption should be ensured and the AML/CFT regime should be mobilized to support anti-corruption efforts. </span></div>
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<em><span style="color: #2c2825;">“</span></em><span>The team will prepare a report that, subject to management approval, is tentatively scheduled to be considered by the IMF’s Executive Board in July 2019.</span></div>
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<span>“The IMF team would like to thank the authorities for the candid and constructive discussions during this visit.”</span></div>
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-15869834378917947592019-06-03T20:25:00.005-06:002019-06-03T20:25:52.235-06:00Iraqi crude exports jump to near-record levels in May The federal government and KRG both increased their oil sales, combining for the second-highest monthly export average that Iraq has ever posted.
Iraqi oil exports from both the federal government and the autonomous Kurdistan Regional Government (KRG) increased in May, combining for 4.086 million barrels per day (bpd) – the second-highest monthly average ever.<br />
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The federal government reported selling an average 3.572 million bpd – a more than 3 percent increase from April – commanding an average sale price of $66.683 per barrel and earning $7.384 billion, the largest monthly haul since last October.<br />
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<span style="font-size: x-small;"><span style="font-family: Verdana, sans-serif;"><span style="-webkit-text-stroke-width: 0px; background-color: white; color: #666666; display: inline !important; float: none; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">By </span><span class="entry-byline name" style="-webkit-text-stroke-width: 0px; color: #777777; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: uppercase; white-space: normal; word-spacing: 0px;">Ben Lando and Ben Van Heuvelen</span><span style="-webkit-text-stroke-width: 0px; background-color: white; color: #666666; display: inline !important; float: none; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"> of </span><span class="entry-byline" style="-webkit-text-stroke-width: 0px; color: #777777; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><a href="https://www.blogger.com/blogger.g?blogID=3850651423434341015" style="color: #0a3c6e; text-decoration: none;">Iraq Oil Report</a></span><br style="-webkit-text-stroke-width: 0px; color: #666666; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;" /><span style="-webkit-text-stroke-width: 0px; background-color: white; color: #666666; display: inline !important; float: none; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">Published Monday, June 3rd, 2019</span></span></span><b></b><i></i><u></u><sub></sub><sup></sup><strike></strike>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-77300784830573150302019-06-01T10:25:00.002-06:002019-06-01T10:34:07.742-06:00Dual Class LLCsDual class limited members cannot vote on everyday operational matters.<br />
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Limited liability companies are business structures legally distinct from their owners. To form an LLC, you file articles of organization with your secretary of state. LLC owners are called members. A dual LLC refers to a dual class LLC, which is a proposed Internal Revenue Service designation for a business that organizes as a multi-member LLC then defaults to tax treatment as a partnership.<br />
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Dual Class LLC<br />
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A dual class LLC is a special LLC that is classified as a limited partnership for tax purposes by the IRS. Instead of only one type of membership, or ownership, interest, if you operate a dual class LLC, your LLC has two types. Your dual class LLC’s general members function akin to a limited partnership whose general partners are open to full liability and actively run and manage the business. Limited partners contribute capital but play a passive role with no or little participation in management, and a dual class LLC’s limited members do the same.<br />
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Self-Employment Tax<br />
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A dual class LLC got its name because it offers two classes of membership interests. A dual class allows members of LLCs who default to tax treatment as a general partnership to avoid self-employment taxes. Under this proposed IRS rule, your LLC’s general members are subject to self employment taxes but its limited partners are not. Instead, your LLC’s non-managing members enjoy taxation similar to that of S corporation shareholders.<br />
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Caution<br />
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Congress never finalized this IRS rule therefore the dual class LLC rule is not in effect. The IRS’ general stance is if taxpayers comply with the most recent proposed rules, limited members will avoid IRS difficulties regarding any self-employment tax avoidance. Without a finalized rule, the IRS ultimately determines who is or is not considered a passive member from a tax perspective. Therefore, if you are an LLC member with elimination of self-employment taxes as your goal, consider consulting with an experienced LLC business service specialist and CPA to properly structure your dual class LLC.<br />
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Example<br />
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Snake River Homes, LLC is a newly formed residential development firm with five members that chooses to operate as a dual class LLC. Two members are managing members, active in running the business. The other three members are passive members who simply contributed money to the LLC for investment purposes. The operating agreement that clearly designates two class levels, general and limited, and defines the responsibilities and rules governing each. The two general members contribute $20,000 each and agree to provide services worth $60,000 the first year. The three limited members contribute $80,000 in cash. The two general members will be subject to self-employment tax because of their involvement in the business but the three limited partners would not.<br />
<br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-64628399497496420102019-05-27T07:20:00.003-06:002019-05-27T07:20:58.456-06:00Happy Memorial Day<div class="separator" style="clear: both; text-align: center;">
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<br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-48377814386118829102019-05-09T05:29:00.002-06:002019-05-09T05:29:29.528-06:00Iraq Close To Signing Mega $53 Billion Oil Deal<div style="-webkit-text-stroke-width: 0px; border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: black; font-family: inherit; font-size: inherit; font-style: inherit; font-variant: normal; font-weight: inherit; letter-spacing: normal; line-height: 1.5; margin-bottom: 15px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">
Iraq will soon finalize a large-scale, long-term deal for the development of oil fields in the South with Exxon and PetroChina. The 30-year contract will involve investments of US$53 billion and potential returns for Baghdad of as much as US$400 billion over its lifetime, Prime Minister Adel Abdul Mahdi told <a href="https://www.reuters.com/article/us-iraq-oil-exxon-mobil-iran/iraq-close-to-signing-53-billion-deal-with-exxon-petrochina-denies-iran-link-idUSKCN1SD1J1" style="border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #0000ee; font-family: inherit; font-size: 100%; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: underline; vertical-align: baseline;">media</a> this week.</div>
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The deal has been in the making for four years and will involve the development of two oil fields in southern Iraq—Nahr Bin Umar and Artawi—and the construction of water supply infrastructure to southern fields in order to keep their production steady. As a result of the project, the combined production of Nahr Bin Umar and Artawi should hit half a million barrels of oil daily, from 125,000 bpd today.</div>
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“Talks now between the oil ministry and Exxon Mobil and PetroChina are focused on how to split profits if oil prices rise or decline,” Abdul Mahdi told Reuters in response to a question regarding a potential date for the finalization of the contract.</div>
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Iraq, OPEC’s second-largest oil exporter, has made no secret of its plans to considerably increase its oil production rates, despite the two OPEC+ production cut agreements, during which Iraq never really hit its allocated production quota. Raising production in the long term will be challenging, as an IHS Markit <a href="https://oilprice.com/Energy/Energy-General/Iraqs-Oil-Production-Problem.html" style="border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #0000ee; font-family: inherit; font-size: 100%; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: underline; vertical-align: baseline;">report</a> from last year suggested, so the Exxon-PetroChina deal should be a very welcome development.</div>
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Iraq, the study noted, has a production capacity for 7 million bpd, but chances are its actual production will only grow marginally over the next decade, to about 5 million bpd, and not just because of the still difficult political and economic situation. Iraq’s oil industry has a purely technical problem: infrastructure and it is in this respect that the Exxon-PetroChina deal’s significance lies. <span style="border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: maroon; font-family: inherit; font-size: 100%; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; vertical-align: baseline;"><strong class="related" style="box-sizing: border-box; display: block; margin-top: 25px;"> <a href="https://oilprice.com/Energy/Crude-Oil/Irans-Master-Plan-To-Beat-US-Sanctions.html" rel="noopener" style="border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: inherit; font-family: inherit; font-size: 100%; font-style: inherit; font-weight: inherit; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: underline; vertical-align: baseline;" target="_blank"></a></strong></span></div>
<span style="-webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: inherit; font-size: 100%; font-style: inherit; font-variant: normal; font-weight: inherit; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">By </span><a href="https://oilprice.com/contributors/Irina-Slav" style="-webkit-text-stroke-width: 0px; border-bottom-color: currentColor; border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: currentColor; border-left-style: none; border-left-width: 0px; border-right-color: currentColor; border-right-style: none; border-right-width: 0px; border-top-color: currentColor; border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: black; font-family: inherit; font-size: 100%; font-style: inherit; font-variant: normal; font-weight: inherit; letter-spacing: normal; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: underline; text-indent: 0px; text-transform: none; vertical-align: baseline; white-space: normal; word-spacing: 0px;">Irina Slav</a><span style="-webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: inherit; font-size: 100%; font-style: inherit; font-variant: normal; font-weight: inherit; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"> - May 08, 2019, 3:00 PM CDT</span><b></b><i></i><u></u><sub></sub><sup></sup><strike></strike>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-67674624375339717942019-04-21T07:34:00.001-06:002019-04-21T14:05:54.312-06:00Happy Easter - Happy Passover<div style="text-align: center;">
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OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-45788779228156659122019-02-10T09:01:00.000-07:002019-02-10T09:01:16.006-07:00Iraq's 2019 budget busts IMF deal<span style="font-family: Verdana, sans-serif;">The Iraqi parliament randomly amended the government's 2019 draft budget to include provisions that increase spending, a move that contravenes an agreement with the International Monetary Fund and that has led to threats of court challenges. </span><br /><br /><div>
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Iraqi President Barham Salih approved the controversial 2019 budget on Feb. 4. The budget passed the parliament Jan. 23 after long debates over allocations for the Kurdistan Region and southern provinces and amendments that ignored Iraq's obligations under an agreement with the International Monetary Fund (IMF) mandating austerity measures until 2021. </div>
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The Iraqi parliament <a href="http://ar.parliament.iq/2019/01/24/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8-%D9%8A%D8%B5%D9%88%D8%AA-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84/" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">approved</a> <a href="https://alsumaria.tv/news/258737/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9-%D9%86%D9%8A%D9%88%D8%B2-%D8%AA%D9%86%D8%B4%D8%B1-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%84%D8%B9%D8%A7%D9%85-2019/ar" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">draft</a> legislation for the 2019 budget amid objections from authorities in the southern provinces. At 133.1 trillion Iraqi dinars ($112.6 billion), the budget, if passed, would be the country's third largest, behind those for 2013 and 2014. With a 27.8% increase in spending, it would appear to blow up the IMF agreement.</div>
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Compared to the 2018 budget, the current one estimates oil exports of 3.88 million barrels per day (bpd), a daily decrease of 8,000. It also assumes a $10 per barrel price increase, which based on the current market would be from $46 to $56. Budgeted oil revenue accounts for 88.8% of total revenues.</div>
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Meanwhile tax revenues and fees are set at 6.8 trillion dinars ($5.7 billion), compared to last year's 9.2 trillion dinars ($7.7 billion). The decrease in taxes is evidence in and of itself of the government’s non-compliance with the IMF Stand-by Arrangement to reform the economy.</div>
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The IMF-required reforms included raising personal and business taxes to increase state revenue and halting increases to the government payroll. Yet, the 2019 budget provides for a 24.7% increase in state employee salaries, for a total of 43.4 trillion dinars ($36.7 billion). In addition, the state's domestic and foreign debt will increase by 30.87%, to 10.7 trillion dinars ($9 billion).</div>
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A source at the Ministry of Finance speaking on the condition of anonymity, told Al-Monitor, “The members of parliament did not discuss the budget bill with the Ministry of Finance.” They also did not consult with the Ministry of Planning and simply amended provisions at will. The source added, “The Iraqi government will file an appeal to the Supreme Court to reverse the amendments and articles added by the parliament.”</div>
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In Iraq's budget process, the government prepares a draft budget and sends it to the parliament, which is allowed to offer amendments before approving it and sending it back to the government. If the government is unhappy with the legislative changes, it can approch the courts for resolution.</div>
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The <a href="https://www.al-monitor.com/pulse/originals/2019/01/iraq-kurdistan-government-cabinet.html" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">Kurdistan Regional Government</a> (KRG) should be pleased with the proposed budget, which <a href="http://www.rudaw.net/arabic/kurdistan/270120191" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">provides it benefits</a> not allocated since 2013.</div>
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Ahmad Hama, a Kurdish representative on the Parliamentary Finance Committee, told Al-Monitor, “The Kurds have a few comments on the 2019 budget, but it is fair to them since it guarantees the salaries of [KRG] employees, increases the region’s share [of expenditures] from 12.67% to 13.93% of the total budget and gives the region $2 billion in investment loans.”</div>
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Hama also observed, “The 2019 budget resolves some issues ongoing with Baghdad over the years, announcing a fresh start for ties with Baghdad.</div>
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One of those issues involves oil. “The Kurdistan Region produces 480,000 barrels of oil per day,” Hama remarked. “Baghdad’s share [from that] will be 250,000 barrels. Added to that, there are 150,000 barrels used within the region for daily consumption, so the region will benefit from exporting 80,000 barrels.” Kurdistan ships both its share of oil as well as Baghad's to market through a pipeline to Ceyhan, Turkey, and then disburses Baghdad its share of the revenue, as per prior agreement.</div>
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The government allocated 1 trillion dinars ($846 million) for the <a href="http://ar.parliament.iq/2019/01/12/%D8%AA%D8%AE%D8%B5%D9%8A%D8%B5%D8%A7%D8%AA-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%AA%D9%86%D9%85%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D8%A7%D8%AA-%D9%88%D8%A7%D9%84%D8%A7%D9%82/" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">petrodollar project</a> allocating a percentage of oil revenues for oil-producing provinces suffering damage from the industry. The regions suffering the most from production and refining receive a higher share of the amount set aside. For example, Basra are to receive 69.2%, Kirkuk 6.3%, and Wasit 4% in the 2019 budget. The Kurdistan Region was excluded. Local authorities can use the money at their own discretion, such as to buy power, send residents abroad for medical treatment and provide other services.</div>
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Southern province representatives were not pleased with the budget. They have criticized the draft budget because it <a href="http://www.almaalomah.com/2019/01/29/386080/" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">does not allocate enough funding</a> to complete stalled projects or quell popular dissatisfaction that eruped in protests last year over the lack of basic services, including potable water and electricity.</div>
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Ahmad al-Salayti, speaker of the Basra governorate council told Al-Monitor, “The 2019 budget confiscated the rights of Basra governorate and gave it less than its constitutional right [to petrodollars]. This is particularly crucial since Iraq’s economy greatly relies on Basra.”</div>
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Salayti stated, “The main problem is that the budget bill was not yet distributed to the members of parliament, and it was not published on the parliament’s website either [before the vote].” He added, “When we asked some members of parliament, they said that they did not know what they voted on and that the amendment and addition of articles to the 2019 budget was disorganized and random.”</div>
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“This is the first time Iraq has witnessed such chaos in passing the budget, which demonstrates the parliament’s negligence toward the Iraqi people,” Salayti remarked. “Basra governorate will appeal to the Supreme Court regarding the budget [if passed], and it will approach the Iraqi courts.”</div>
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The draft budget should be sent to parliament and approved before the start of the new year, but it is usually behind schedule, meaning the government conducts public finance without a budget plan. This unaccountability is a major source of corruption. Transparency International’s <a href="http://www.transparency.org/cpi2018" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">Corruption Perceptions Index</a> for 2018 gave Iraq a score of<a href="https://www.transparency.org/cpi2018" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank"> 18 out of 100</a>, with 1 being <a href="https://www.al-monitor.com/pulse/originals/2019/01/iraq-anti-corruption-supreme-council.html" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">highly corrupt</a> and 100 very clean. Last year, Iraq did not follow its budget to the letter, only <a href="http://mof.gov.iq/obs/ar/Pages/obsDocuments.aspx" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">implementing 80% of the budget</a> at the most.</div>
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Prime Minister Adel Abdul Mahdi has a background in economics and attained office based in part on an <a href="http://www.al-monitor.com/pulse/originals/2018/11/iraq-economy-adil-abdul-mahdi.html" style="background-color: transparent; box-sizing: border-box; color: #337ab7; text-decoration: none;" target="_blank">economic reform agenda</a>. Yet, his government is repeating the mistakes of 2012 and 2013 by randomly increasing spending without investing in developing production sectors.</div>
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Iraq is currently experiencing crises in health, agriculture, industry, education, and energy production. The rate of health expenditures under the current budget is only 2.4%, while agricultural allowances do not exceed 1% and education 3.6%. To be productive, the budget must be aligned with economic realities, not political goals.</div>
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It appear that the budget crisis, which began in October, might last another three months as the government makes plans to appeal to the courts over parliament's random amendments and other changes to the draft budget.</div>
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<span style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-size: 14px; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span class="authorName" style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;"><b>SOURCES:</b></span></span></span></div>
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<span style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-size: 14px; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span class="authorName" style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-size: 14px; font-style: normal; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;"></span><b></b><br /></span></span></div>
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<span style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-size: 14px; font-variant: normal; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><span class="authorName" style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-family: &quot; font-size: 14px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">Salam Zidane</span><span style="-webkit-text-stroke-width: 0px; background-color: white; color: black; display: inline !important; float: none; font-family: "Noto Sans",Helvetica,sans-serif; font-size: 14px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"> is an Iraqi journalist specializing in economics. He has written for several local and international media sources such as Al-Jazeera and The New Arab.</span><span style="-webkit-text-stroke-width: 0px; background-color: transparent; box-sizing: border-box; color: black; font-family: &quot; font-size: 14px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><br style="box-sizing: border-box;" /><br style="box-sizing: border-box;" />Read more: <a href="http://www.al-monitor.com/pulse/originals/2019/01/iraq-2019-budget-monetary-fund.html#ixzz5f90wNxWi" style="background-color: transparent; box-sizing: border-box; color: #003399; text-decoration: none;">http://www.al-monitor.com/pulse/originals/2019/01/iraq-2019-budget-monetary-fund.html#ixzz5f90wNxWi</a></span></span></div>
OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-87543286297127553642019-01-31T07:03:00.000-07:002019-01-31T07:03:32.334-07:00Learn how to make money with opportunities offered by Real Simple RealtyJoin Douglas Priest of Real Simple Realty and Nick Parino of OIW Trust Associates on Saturday, Feb. 2, 2019 at 2:00pm ET<br />
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During the session, Douglas Priest will introduce you to real estate opportunities utilizing 1031 exchange and Qualified Opportunity Zone strategies, AND community Down Payment Assistance Programs.<br />
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Real Simple Realty is utilizing its strategic relationship with ZILLOW and its depth of market knowledge to deliver solid, secured opportunities that will utilize Wyoming Irrevocable Purpose Trusts, and soon be featured on Crowdfunder.<br />
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OIW Trust Associate Clients have benefits like pre-Crowdfunder participation with reduced entry requirements.<br />
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<b><span style="font-family: Arial, Helvetica, sans-serif;">About Real Simple Realty</span></b><br />
<b><span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></b>
Doug is the founder of Real Simple Realty and has a depth of real estate knowledge not often found in an individual. First obtaining a real estate license in 1994 as a student at the University of California, Davis, Doug has been involved in the real estate business in multiple sectors. Whether it was in sales, financing or affordable development, Doug has the experience necessary to be an asset to his clients. In addition, he has been awarded a patent, State and Federal grants in excess of $5 million and received start-up business funding from private investors. In his current position as a Real Estate Broker, he provides the guidance necessary for his clients to move seamlessly up the real estate ladder to financial success.<br />
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He has served on a number of advisory boards including Better Business Bureau, Mile High Youth Corps, Governor’s Energy Office and California State Fair.<br />
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<b><span style="font-family: Arial, Helvetica, sans-serif;">License History</span></b>:<br />
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California Real Estate Brokers License 1994-Current (#01177645)<br />Colorado Real Estate Employing Broker License 2012-Current (#ER100038921)<br />Nevada Real Estate Broker Salesman 2009-2016 (#143085)<br />
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<span style="color: red;"><b>Dial into the conference and ask questions in Q&A</b></span><br />
<b>Saturday</b><span style="color: red;"> |</span> <b>Feb.2</b><span style="color: red;"> | </span><b>2:00pm EST</b><br />Phone. 712-775-7035 <b>|</b> Code. 908702# <b>|</b> Mute/Un-mute. *6 <b>|</b> Bring questions for Q&A<br />
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<b><i>Information and People for Diligent Outcomes</i></b><br />
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With the State of Wyoming and the assistance of OIW Trust Associates LLC, you can avoid Probate, insulate your assets and holdings from attachment and forfeiture, minimize state income tax on investment income, and insure that the fruits of your life-long labor go to the people that YOU choose.OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com4tag:blogger.com,1999:blog-3850651423434341015.post-61551354625211771402018-11-25T08:21:00.000-07:002018-11-25T08:21:19.359-07:00Vote for workshop schedule<script src="//www.powr.io/powr.js?external-type=blogger"></script>
<div class="powr-poll" id="9889481a_1543158407"></div>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-28104163798332905412018-11-21T11:41:00.002-07:002018-11-21T11:41:50.297-07:00Happy Thanksgiving<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkO5RVnMl0gA0Y7I-Gkc9D-4dW2fdUE7ovcu_1y3MpcQndOWsB2RrDrZ0NW1lIahLZF82Qt93DPYKaX9AAjkgP9XGFntF6NCFUECNFvLZHS2hpktl04TZ_kq8c5fyJZsmJwWXTJMPq-8c5/s1600/Thanksgiving-2018-2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="900" data-original-width="1600" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjkO5RVnMl0gA0Y7I-Gkc9D-4dW2fdUE7ovcu_1y3MpcQndOWsB2RrDrZ0NW1lIahLZF82Qt93DPYKaX9AAjkgP9XGFntF6NCFUECNFvLZHS2hpktl04TZ_kq8c5fyJZsmJwWXTJMPq-8c5/s400/Thanksgiving-2018-2.jpg" width="400" /></a></div>
<br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com2tag:blogger.com,1999:blog-3850651423434341015.post-86559539756992459652018-11-15T07:36:00.000-07:002018-11-15T07:36:02.328-07:00American Cannabis Summit<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;">Countdown to legalization featuring Former Speaker of the House, John Boehner</span></div>
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<span style="font-family: Verdana, sans-serif;"><b></b><b></b><br /></span></div>
<div style="text-align: center;">
<span style="font-family: Verdana, sans-serif;"><a href="https://pro.nicinvestors.com/p/CIRLNC39V/LCIRUBCY/?&src=fc-countdown_11152018&test_id=1542222305608&h=true" target="_blank">American Cannabis Summit with John Boehner</a></span></div>
OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com121tag:blogger.com,1999:blog-3850651423434341015.post-21634806768447849642018-05-02T05:39:00.001-06:002018-05-02T05:39:18.822-06:00UK Forces Overseas Territories to Set Up Public Beneficial Ownership Registers<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: #3c4a4e; display: inline !important; float: none; font-family: "Open Sans",Arial,sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 21.7px; orphans: 2; text-align: justify; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">In a landmark decision, the UK government announced that all UK overseas territories will have to create a public beneficial ownership register by December 31, 2020, disclosing who owns companies registered in their jurisdiction.</span><br />
<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: #3c4a4e; display: inline !important; float: none; font-family: "Open Sans",Arial,sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 21.7px; orphans: 2; text-align: justify; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;"><br /></span>
<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: #3c4a4e; display: inline !important; float: none; font-family: "Open Sans",Arial,sans-serif; font-size-adjust: none; font-size: 14px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 21.7px; orphans: 2; text-align: justify; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">Read entire story at <a href="https://taxlinked.net/blog/may-2018/uk-overseas-territories-beneficial-ownership">https://taxlinked.net/blog/may-2018/uk-overseas-territories-beneficial-ownership</a></span><br />
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><a href="https://taxlinked.net/blog/may-2018/uk-overseas-territories-beneficial-ownership" target="_blank">UK Forces Overseas Territories to Set Up Public Beneficial Ownership Registers</a><br />
<span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: #767f83; display: inline !important; float: none; font-family: "Open Sans",Arial,sans-serif; font-size-adjust: none; font-size: 11px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 11px; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: uppercase; white-space: normal; word-spacing: 0px;">Posted by </span><span class="post-author" style="-webkit-text-stroke-width: 0px; background-color: transparent; border-bottom-color: rgb(118, 127, 131); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(118, 127, 131); border-left-style: none; border-left-width: 0px; border-right-color: rgb(118, 127, 131); border-right-style: none; border-right-width: 0px; border-top-color: rgb(118, 127, 131); border-top-style: none; border-top-width: 0px; box-sizing: border-box; color: #767f83; font-family: &quot; font-size-adjust: none; font-size: 11px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 11px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 6px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-transform: uppercase; vertical-align: baseline; white-space: normal; word-spacing: 0px;">Mateo Jarrin</span><span style="-webkit-text-stroke-width: 0px; background-color: transparent; color: #767f83; display: inline !important; float: none; font-family: "Open Sans",Arial,sans-serif; font-size-adjust: none; font-size: 11px; font-stretch: 100%; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; line-height: 11px; orphans: 2; text-align: left; text-decoration: none; text-indent: 0px; text-transform: uppercase; white-space: normal; word-spacing: 0px;"> </span><br />
<br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-73231926121881664942018-04-01T07:46:00.000-06:002018-04-01T07:46:04.079-06:00Happy Easter<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8fDYFSrPucMvu3FGfz2c5K3BqdzqV9-RVqJdQnVlena00zcicTD3U5nu9Rg2RGpOzC8t4t6j3W6e5Ky4INLMwkZqdLdxfWCCUOapaG71J7e7ILDC2QucOE1YABelsVE3vNP7fgJLLo2Ox/s1600/easter2018.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1151" data-original-width="1600" height="230" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj8fDYFSrPucMvu3FGfz2c5K3BqdzqV9-RVqJdQnVlena00zcicTD3U5nu9Rg2RGpOzC8t4t6j3W6e5Ky4INLMwkZqdLdxfWCCUOapaG71J7e7ILDC2QucOE1YABelsVE3vNP7fgJLLo2Ox/s320/easter2018.jpg" width="320" /></a></div>
<br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-72773679389188569112018-02-11T14:05:00.002-07:002018-02-11T14:05:17.993-07:00Iraq Seeks $100B Investments To Revive Oil, Transport SectorsIraq is looking to attract US$100 billion worth of foreign investment that would help it rebuild its oil refining and petrochemicals sectors and reconstruct crucial infrastructure after it repelled Islamic State out of its territory following a three-year war against the militants.<br />
<br />In December last year, Iraq declared the war with ISIS over and is now seeking foreign investments in major projects that would help it to revive its economy, which has also been hurt by low oil prices.<br />
Ahead of a conference on Iraq’s reconstruction that will be held in Kuwait next week, Iraq’s National Investment Commission published a list of major strategic projects available for investment, with 157 different opportunities up for grabs.<br />
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A total of 18 investment opportunities are up on offer in the chemicals, petrochemicals, fertilizers, and refinery sectors.<br />
<br />Iraq—OPEC’s second-largest oil producer behind Saudi Arabia—will be looking to attract investment mostly in the downstream, planning the construction of new refineries with different capacities, including one at the Al-Faw Port with a 300,000-bpd capacity. The other refinery projects are a 150,000-bpd refinery in the Anbar province and a new Al-Nasiriy refinery in Thi Qar province with a production capacity of 150,000 bpd.<br />
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Iraq also plans oil storage facilities in the provinces Basra, Mosul, and Saladin.<br />
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By Tsvetana Paraskova - Feb 09, 2018, 12:00 PM CST<br /><a href="https://oilprice.com/Latest-Energy-News/World-News/Iraq-Seeks-100B-Investments-To-Revive-Oil-Transport-Sectors.html">https://oilprice.com/Latest-Energy-News/World-News/Iraq-Seeks-100B-Investments-To-Revive-Oil-Transport-Sectors.html</a>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-38911891315352784702017-12-22T11:34:00.001-07:002017-12-22T11:34:20.590-07:00Merry Christmas and Happy New Year!<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitKf7772bzacyrIEKGM6zud5K3X7Tz5xZ1iTp7YXLBd-0RcX8SI3KlbintE97n259dUIObFpUQBmlZFgRBGS4YkQOgIgAB9_usidddvtRgzBswGQs8yLB41wk708fSMo0hIEWjr46z4loX/s1600/Christmas+2017.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="325" data-original-width="525" height="247" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitKf7772bzacyrIEKGM6zud5K3X7Tz5xZ1iTp7YXLBd-0RcX8SI3KlbintE97n259dUIObFpUQBmlZFgRBGS4YkQOgIgAB9_usidddvtRgzBswGQs8yLB41wk708fSMo0hIEWjr46z4loX/s400/Christmas+2017.gif" width="400" /></a></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Dear Clients and Acquaintances,</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">As this year comes to an end, we would like to send wishes to you and yours for a very Merry Christmas and Happy New Year!</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">However and wherever you choose to spend the Holidays, it is our hope that you will have fond memories for years to come.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"></span><br /></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Again, from our family here at OIW TRUST ASSOCIATES LLC to you and your family, best wishes for a Prosperous New Year.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Warm Regards,</span></div>
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<b style="border-bottom-color: rgb(34, 34, 34); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(34, 34, 34); border-left-style: none; border-left-width: 0px; border-right-color: rgb(34, 34, 34); border-right-style: none; border-right-width: 0px; border-top-color: rgb(34, 34, 34); border-top-style: none; border-top-width: 0px; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><span style="font-family: Arial, Helvetica, sans-serif;">Holiday Schedule</span></b></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">We are closed from noon Wednesday, Dec. 20th until Tuesday, Jan 2, 2018. We will be monitoring email and encourage you to direct any important matters to <a href="https://www.blogger.com/null" style="border-bottom-color: rgb(17, 85, 204); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(17, 85, 204); border-left-style: none; border-left-width: 0px; border-right-color: rgb(17, 85, 204); border-right-style: none; border-right-width: 0px; border-top-color: rgb(17, 85, 204); border-top-style: none; border-top-width: 0px; color: #1155cc; cursor: text; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;">offshoreinwyoming@hushmail.com</a></span></div>
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><span style="font-family: Arial, Helvetica, sans-serif;"></span><br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-67687944614379553872017-12-17T15:39:00.001-07:002017-12-17T15:39:49.063-07:00Iraq, The IMF and the Dinar<div style="-webkit-text-stroke-width: 0px; background-color: transparent; border-bottom-color: rgb(34, 34, 34); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(34, 34, 34); border-left-style: none; border-left-width: 0px; border-right-color: rgb(34, 34, 34); border-right-style: none; border-right-width: 0px; border-top-color: rgb(34, 34, 34); border-top-style: none; border-top-width: 0px; color: #222222; font-family: &quot; font-size: 13px; font-style: normal; font-variant: normal; font-weight: 400; letter-spacing: normal; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; orphans: 2; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-align: left; text-decoration: none; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px;">
We have seen a surge of phone calls and emails about the Iraq Dinar and rumors again about a rate adjustment.</div>
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I will remind everyone that IMF and Iraq have a formal agreement - a $5.3 billion Stand-By Arrangement (SBA) for three years with the IMF where in which there is an agreement that the Dinar rate will remain unchanged.</div>
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The IMF met with Iraq officials Nov 17 - 21 to discuss preparation of Iraq's 2018 budget draft and they are making good progress. As soon as they finalize the budget, we will know if the IMF approves a Dinar valuation adjustment.</div>
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On another front, on July 23, 2017, Dr. Maher H. Johan, Acting Deputy Minister of Finance, and Ali Mohsen Ismail Al Allaq, Acting Governor of the Central Bank of Iraq, penned a Letter of Intent to Ms. Christine Lagarde Managing Director International Monetary Fund 700 19th Street, N.W. Washington, DC 20431, USA.</div>
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In part it stated...</div>
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1. As you know, the Iraqi economy continues to suffer under the ISIS attack and oil price shock that hit the economy in mid-2014. In response to this double shock, the government has taken bold but necessary steps to put its public finances on a sustainable footing and welcomed support of the international community including our SDR 3.831 billion (about $5.3 billion) Stand-By Arrangement (SBA) for three years with the IMF as well as sizable support from donors. </div>
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2. As explained in the attached Memorandum of Economic and Financial Policies (MEFP, ¶¶15-17), all performance criteria (PCs) at end-December 2016 and one continuous PC were missed, and one PC at end-June 2017 was likely missed. The government missed these PCs because of the spending pressure flowing from the war against ISIS and the ensuing humanitarian crisis at a time when oil prices fell precipitously. This forced us to spend more in 2016 and pay less external arrears than programmed. The breach of the continuous PC related to the accumulation of external arrears in amounts of $2.5 million for almost two months at the beginning of 2017 and $157 million for several days at the beginning of July 2017, all of which were paid. Considering the temporary nature of these arrears, and the steps described in the MEFP to put the program back on track and improve cash management, the government requests waivers for the non-observance of the continuous PC and one PC at end-June 2017. We also request waivers of applicability for the four PCs at end-June 2017 for which complete information is not available yet. </div>
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3. The government has made good progress in meeting the structural benchmarks (SBs) for the second review of the SBA (MEFP, ¶20). In particular, we have completed the following SBs: the survey of arrears of the central government; the audit of arrears on non-oil investment and on wheat purchases by the Board of Supreme Audit; the survey of guarantees issued by the central government; the external audit of the gross international reserves and the net domestic assets of the Central Bank of Iraq (CBI); the external audit of the total public debt; the circular sent by the Ministry of Finance requiring all spending units to record all existing commitments on current and capital expenditures; the posting on the Ministry of Finance’s external website of the financial statements of the Development Fund for Iraq and Successor Account according to international standards; the adoption by the Governing Council of the CBI of a new charter for the Audit Committee prohibiting CBI executive representation on the committee; the introduction to Parliament of amendments to the Law on the CBI to strengthen CBI governance and the internal control framework; and the issuance by the CBI of clarifying implementing regulations to remove the limitation on transfer of investment proceeds that gave rise to an exchange restriction. We have also made progress in the two other SBs—amendments to the 2011 law establishing the Integrity Commission, and report of all current and investment commitments by the Ministry of Finance—but need more time to complete them. We therefore propose to postpone them to, respectively, the third and fourth reviews. </div>
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4. In view of the difficulty in reducing the obligations outstanding for more than three months to IOCs to zero because of the lumpy size of oil shipments, the government proposes to raise the floor on these obligations to $500 million, starting in September 2017. The government also supports staff’s proposal to set the stock of these obligations as an indicative target rather than a PC starting in September 2017. The government also supports staff’s proposal of changing end-December 2017 PCs for the fourth review in line with the revised macroeconomic framework, and setting PCs for end-June and end-December 2018. The program would continue to have indicative targets on all the variables serving as PCs at the end of the first and third quarters of the year, which should ensure continued monitoring of program performance on a quarterly frequency and help ensure program performance remains on track. </div>
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5. Against this background, the government requests completion of the second review under the SBA and requests purchase of the third tranche of SDR 584.2 million (35.1 percent of our quota). The government commits to implement the economic and financial policies during 2017–19 described in the attached MEFP to gradually bring expenditure down to a level consistent with the lower level of oil revenues to achieve debt sustainability while maintaining the exchange rate peg, strengthening public financial management and banking supervision, and fighting money laundering, the financing of terrorism, and corruption. The government will protect social spending and commits to maintain such spending above a floor during the SBA. </div>
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6. The government believes that the measures and policies set out in the attached MEFP are appropriate for attaining the objectives of this program and will take any further steps that might be necessary to that end. It will consult with the IMF staff on the adoption of such measures prior to any revision of the policies described in the attached MEFP. </div>
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7. The government will provide IMF staff with any relevant information referred to in the attached TMU concerning progress made under the program. </div>
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8. The government intends to make public the content of the IMF staff report, including this letter, the attached MEFP, the TMU, and the informational annex of the staff report. It authorizes the IMF staff to publish these documents on its website once the Executive Board has approved this review. </div>
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<a href="https://www.imf.org/external/np/loi/2017/irq/072317.pdf" style="border-bottom-color: rgb(17, 85, 204); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(17, 85, 204); border-left-style: none; border-left-width: 0px; border-right-color: rgb(17, 85, 204); border-right-style: none; border-right-width: 0px; border-top-color: rgb(17, 85, 204); border-top-style: none; border-top-width: 0px; color: #1155cc; cursor: pointer; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;" target="_blank">https://www.imf.org/external/<wbr style="border-bottom-color: rgb(17, 85, 204); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(17, 85, 204); border-left-style: none; border-left-width: 0px; border-right-color: rgb(17, 85, 204); border-right-style: none; border-right-width: 0px; border-top-color: rgb(17, 85, 204); border-top-style: none; border-top-width: 0px; color: #1155cc; cursor: pointer; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px; text-decoration: none;"></wbr>np/loi/2017/irq/072317.pdf</a></div>
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<b style="border-bottom-color: rgb(34, 34, 34); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(34, 34, 34); border-left-style: none; border-left-width: 0px; border-right-color: rgb(34, 34, 34); border-right-style: none; border-right-width: 0px; border-top-color: rgb(34, 34, 34); border-top-style: none; border-top-width: 0px; color: #222222; line-height: normal; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><i style="border-bottom-color: rgb(34, 34, 34); border-bottom-style: none; border-bottom-width: 0px; border-image-outset: 0; border-image-repeat: stretch; border-image-slice: 100%; border-image-source: none; border-image-width: 1; border-left-color: rgb(34, 34, 34); border-left-style: none; border-left-width: 0px; border-right-color: rgb(34, 34, 34); border-right-style: none; border-right-width: 0px; border-top-color: rgb(34, 34, 34); border-top-style: none; border-top-width: 0px; color: #222222; line-height: normal; margin-bottom: 0px; margin-left: 0px; margin-right: 0px; margin-top: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;">Information and People For Diligent Outcomes!</i></b></div>
<b></b><i></i><u></u><sub></sub><sup></sup><strike></strike><br />OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-74879095368330419182017-11-14T18:32:00.000-07:002017-11-14T18:32:00.623-07:00Iraq Oil Revenue Not Enough For Sustainable DevelopmentOil revenues still are not high enough to allow the Iraqi government to fund the reconstruction of the country, according to Iraqi Prime Minister Haider Al-Abadi.<br />
<br />“Oil prices are not at the required level to be used for sustainable development,” state TV quoted al-Abadi as saying during a press conference.<br />
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<b>Read the entire story at </b><a href="https://oilprice.com/Latest-Energy-News/World-News/Iraq-Oil-Revenues-Not-Enough-For-Sustainable-Development.html">https://oilprice.com/Latest-Energy-News/World-News/Iraq-Oil-Revenues-Not-Enough-For-Sustainable-Development.html</a>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-49912264593241997022017-11-06T04:52:00.003-07:002017-11-06T04:52:38.116-07:00Paradise Papers: Tax haven secrets of ultra-rich exposedAfter explosive leaks from an offshore firm last year, others in the sector insisted it was a bad apple. <br />
<br />
Now that claim can be tested.<br />
<br />
A huge new leak of financial documents has revealed how the powerful and ultra-wealthy, including the Queen's private estate, secretly invest vast amounts of cash in offshore tax havens.<br />
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Donald Trump's commerce secretary is shown to have a stake in a firm dealing with Russians sanctioned by the US.<br />
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The leak, dubbed the Paradise Papers, contains 13.4m documents, mostly from one leading firm in offshore finance.<br />
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BBC Panorama is part of nearly 100 media groups investigating the papers.<br />
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How is the Queen involved?<br />
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Read the full story at <a href="http://www.bbc.com/news/uk-41876942">http://www.bbc.com/news/uk-41876942</a>OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-79321185096596767632017-11-05T14:38:00.001-07:002017-11-05T14:38:43.812-07:00Our Founding Fathers and Moral DecayAs churchgoers in Texas die today at the hands of another gun-toting monster, as a strong advocate of the 2nd amendment, it saddens me greatly to admit that our Founding Fathers grossly underestimated the extent to which moral decay would overtake the "Great Experiment." <br />
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Fatherless homes and lack of structure and discipline is a large factor in the upswing in gun violence and disregard for human life. Human life...<br />
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Our killing fields, being 60+ million abortions stands as a testament to the level of disregard for human life that our moralless, liberal society has achieved and our country has tolerated.<br />
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America’s killing fields could easily draw a distinction to the many wars and conflicts around the world that have taken an estimated 1.1 million American lives but sadly that is not the case.<br />
America’s killing fields are a number of sites throughout the United States where collectively it is estimated that 60 million souls have been killed and discarded.<br />
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The Liberal cause celebre - a nationwide cause celebre in 1970 was the right of a woman to have an abortion. The only beneficiaries of the Roe decision and the licensing of America’s Killing Field enterprise by the U.S. Supreme Court have been the abortion industry lead by Planned Parenthood, and the attorney’s Wedddington and Pitts Hames, who have gained considerable notoriety among the feminist and liberal politicians and Feminazi for their devotion to the cause of the American Killing Fields…Abortion!<br />
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The irony of it is that it all began with a lie. In 1987 Norma McCorvey told Washington Times columnist Carl Rowan that the Roe decision was based on false testimony. She admitted that her account of being raped in 1968 was a fabrication designed to invalidate the law. Instead, she confessed that she had become pregnant by her boyfriend.</div>
OIW Trust Associates LLChttp://www.blogger.com/profile/08471678376659048782noreply@blogger.com0tag:blogger.com,1999:blog-3850651423434341015.post-6302036325096595542017-10-12T05:13:00.001-06:002017-10-12T05:13:28.729-06:00Is Iraq On The Brink Of Civil War?<div>
For much of the past month, the Kurdistan referendum on independence and its possible implications for the region have dominated news headlines from the Middle East.</div>
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<br />The fate of Kurdistan-controlled oil production and exports in the face of Turkish threats to cut off the main export route for Kurdish oil, and Iraq’s call to the neighbors and the world to deal only with the federal government—especially in oil sales and trade—pushed oil prices to a several-months-high at the end of September. </div>
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<br />The oil-rich area around Kirkuk—with the city currently under the administration of Kurdish forces—is the site where both the Kurdistan Regional Government (KRG) and Iraq’s state-held North Oil Company control oil wells. The dispute over Kirkuk and its oil fields could spark a civil war If the central government and Kurdistan leave the issue with the Kurdish push for independence unresolved, Iraqi Vice President Ayad Allawi said in an interview with The Associated Press earlier this week.</div>
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Allawi called for restraint from both the President of the Kurdistan Region, Masoud Barzani, and Iraq’s central government and its Iranian-backed militia, the Asa‘ib Ahl al-Haq, which are part of the Popular Mobilization Forces.</div>
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<br />“The government claims they control the Popular Mobilization Forces. If they do they should restrain them, rather than go into a kind of civil war. And there should be a restraint on Masoud Barzani and the Peshmerga not to take aggressive measures to control these lands,” Allawi told the AP. </div>
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<br />The multi-ethnic city of Kirkuk voted in the September 25 referendum on Kurdish independence despite the fact that it’s outside the autonomous Kurdistan region. Kirkuk, however, has been administered by Kurdish forces since 2014, when the Iraqi army fled from the advance of ISIS and the Peshmerga took control of the city from the Islamist militants.</div>
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<br />Following the overwhelming support for Kurdish independence in the referendum, the KRG is seeking dialog to resolve all issues and has not declared independence in any part of Kurdistan. Iraq, for its part, says that the referendum is unconstitutional, and urges Iran and Turkey to stop all commercial transactions with Kurdistan, especially in oil exports and sales. Iran and Turkey are also strongly opposed to any Kurdish breakaway, fearing similar moves by their own Kurdish populations.</div>
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<br />The Iraqi federal government also plans to reopen an oil pipeline from Kirkuk to the Turkish port of Ceyhan that bypasses Kurdistan, to further pressure the KRG.</div>
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<br />Not only Iraq’s neighbors oppose the Kurdish referendum. The U.S. and Western powers are also against it, fearing that yet another conflict in the Middle East would distract from efforts to push Islamic State out of Iraq and Syria.</div>
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<br />The only major global power that hasn’t denounced the Kurdish referendum is Russia, and Russia isn’t giving up its oil and gas deals in Kurdistan.</div>
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<br />At an energy panel last week, Russian President Vladimir Putin said “By the way, we have traditionally maintained good relations with the Kurds…We are not interfering. Therefore, our statements are weighed-up and careful, their aim is not to incite, not to escalate the situation”.</div>
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<br />Just days before the referendum, Russia’s oil giant Rosneft said it would look into the opportunity to build a $1-billion pipeline bringing gas from Iraqi Kurdistan to Turkey. Rosneft—led by Vladimir Putin’s close ally Igor Sechin—has been intensifying links and deals with Kurdistan this year. </div>
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By Tsvetana Paraskova - Oct 11, 2017, 4:00 PM CDT</div>
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<br /><a href="http://oilprice.com/Geopolitics/International/Is-Iraq-On-The-Brink-Of-Civil-War.html"><span style="color: #1155cc;">http://oilprice.com/Geopolitics/International/Is-Iraq-On-The-Brink-Of-Civil-War.html</span></a></div>
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