Share to Twitter Share to Linkedin Reports have been circulating that OPEC (or OPEC+) is considering a 1 mb/d reduction in production quotas at its meeting on Wednesday, which resulted in a quick $5/barrel surge in oil prices, not devastating but significant. For most of the members, the issue is moot: outside the Gulf production is already below quotas because of a technical inability to meet them. Low investment levels and lack of maintenance, partly due to the pandemic, have reduced Angola and Nigeria 1.2 mb/d below their quotas already. It is unlikely that the group will simply point to that and declare ‘Mission Accomplished.’ Yet the range of possible oil market balances is probably wider than even the dark days of the 2008 financial crisis, as the combination of possible recession, efforts to curtail Russian oil exports—so far minimally successful—and worries about more Chinese covid lockdowns all cloud the picture. Add to that the possibility that Iranian … [Read more...] about What’s OPEC+’s Next Move?
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Share to Twitter Share to Linkedin January 1 st , 2026 may not be on your radar. But if you are married, wealthy, and own appreciable assets like a growing business, a real estate portfolio, or investments that could be worth tens of millions or more before you die, it should be. Why? Because once 2026 arrives, many of the tax adjustments that were part of the 2017 Tax Cuts and Jobs Act (TCJA) are expected to expire. For wealthy couples, the most impactful change could be a significant reduction in the estate tax exemption, which in 2022 currently stands at $12.06 million per person (or $24.12 million per couple). Based on current law, these higher exemption amounts will revert to the 2010 level of $5 million, adjusted for inflation, or roughly $6.4 million ($12.8 million per couple) in 2026 - about half of what it is today – with a federal tax rate on estates over these exemption amounts of 40%, plus state death taxes if you reside in a state that has one. … [Read more...] about Is 2026 An Important Year For Your Wealth?
- A + A KUALA LUMPUR (Oct 4): Hibiscus Petroleum Bhd, which had previously questioned the imposition of state sales tax (SST) on its two units operating in Sabah, has proceeded to pay the tax amounting to RM85.7 million. The SST was imposed on revenues from petroleum products sold by SEA Hibiscus Sdn Bhd under the North Sabah production sharing contract (PSC) and Hibiscus Oil & Gas Malaysia Ltd (previously known as Repsol Oil & Gas Malaysia Ltd) under the 2012 Kinabalu Oil PSC. "In order to create a stable environment for continuing investment and smooth operations in Sabah, SEA Hibiscus and Hibiscus Oil & Gas on Sept 21 proposed, without prejudice to their respective rights as applicable, to pay the claims imposed The Sabah government accepted the proposal on Sept 27, the group added in a Bursa Malaysia filing on Tuesday (Oct 4). "The group has made the appropriate accruals for all liabilities related to this matter in [financial year 2022] amounting … [Read more...] about Hibiscus pays RM85.7 mil sales tax to Sabah govt
Share to Twitter Share to Linkedin Many people are disappointed they don’t have or ride in a self-driving car yet, expecting it sooner. In part-one of this two part series (with videos) some of the key issues standing in the way were explored. Here in part two, some other issues, many of which are logistic and social, are laid out. Road Citizenship Making vehicles safe, and proving it, is one thing. Another important skill might be called “road citizenship,” namely being a productive driver on the road, not getting in other people’s way, not impeding traffic, not acting unpredictably. In the early days, all robocars tend to be programmed to drive conservatively in order to stay safe. There is almost a dial you can turn between being conservative and safer and being assertive and not slowing traffic. The natural instinct is to turn that dial to “conservative” when you begin, but it can’t stay there forever. You might make a very safe car but it … [Read more...] about Why Don’t You Have A Self-Driving Car Yet? Part Two Outlines Some Social Problems
Share to Twitter Share to Linkedin I think we can all agree that change is not easy. There can be so many factors that contribute to the habits and routines that we have set up in our lives that often those habits become an automatic part of how we live and who we are. Rarely do we even think about questioning them. The Stages of Change Model (formally known as the Transtheoretical Model of Change) introduced by Prochaska, Norcross and DiClemente has opened the door towards understanding the psychology of behavior change from the perspective of biological, psychological and societal factors. This model has demonstrated that change progresses through 5 distinct stages before it’s made permanent. Understanding these stages of change and how they relate to our financial life can provide us with an awareness of what stage we might be in for a given financial goal, allow us to give ourselves credit where it’s due, and help us identify strategies that we can … [Read more...] about How Understanding The Stages Of Change Can Help You Transform Your Financial Life