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Uncle Doug

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Uncle Doug last won the day on October 2

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About Uncle Doug

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  • Full Real Name:
    Doug Johnson
  • Reason for registering:
    Live and/or work in Chiriqui
  • Location of primary residence:
    In Chiriqui
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  1. We shouldn't get too excited about this yet. The smallest of the three "seismic shoots" has been completed, meaning the other two much larger ones are not yet complete. GX Technology Co will now start to process the raw data it collected from the ships conducting the survey. That is not a simple task and it often can take several months to analyze and convert the raw geophone data into a 3D picture of rock formations below the seabed. After that, they will try to sell licenses to the data to companies capable of drilling offshore. There is certainly a possibility that the data will show nothing at all worth risking the tens of millions of dollars required to drill a single exploratory well. But it's definitely a story to follow in the upcoming months.
  2. And what are the consequences of being on the EU blacklist? Essentially nothing. The EU list is linked to EU funding in the context of the European Fund for Sustainable Development (EFSD), the European Fund for Strategic Investment (EFSI) and the External Lending Mandate (ELM). Funds from these instruments cannot be channelled through entities in listed countries. Only direct investment in these countries (i.e. funding for projects on the ground) will be allowed, to preserve development and sustainability objectives. Link These are EU elite technocrats compiling a shame list for their own political purposes. The "Panama Papers" made a convenient whipping boy out of Panama. Why don't they mention Andorra, nestled between France and Spain? Do you see South Korea or Guam quivering in fright over being on the blacklist like Panama? Isn't it amazing that Russia is not on the list? This is not a ban on any European country from doing business here. It's just part of those EU funds and I'm not aware that Panama is receiving them, anyway. How much does Panama rely on Belgium for its economy? And like Roger says, banks in Panama basically insist on a body cavity search in order to open a new account. It's extremely difficult. I sincerely doubt that it is more difficult to open a new bank account in any EU country than in Panama. Yes, Panama probably needs more strict internal financial controls. But to be bullied by the EU for not collecting taxes for the EU is an overreach, in my opinion.
  3. Flu season has started in the United States and it's more widespread than this time last year. Unfortunately, the flu vaccine developed for this year is only about 10% effective. CBS News
  4. I suspect it will be easier to make a trip to the USA to deal with Social Security issues than this alternative.
  5. Bringing A Pet Into Panama (From the USA)

    In the domestic terminal at PTY, if flying continuing on to David, security wants to X-Ray the pets in the carriers. They don't insist, however, and it is fun for all when a cat escapes into the waiting room. Been there, done that.
  6. I assume that all other drivers are trying to kill me. But maybe it's just beer for breakfast.
  7. Big Sale On Cajons At Fenix Cafe!

    The graphic looks it might be drums you can sit on. I guess.
  8. There Is An Excellent Recycling Facility in David

    Private recycling centers have to make a profit in order to survive, and even with "free donations" of items, it's not that easy to do. If it were, there would be plenty of them around here. Until Panama has the will and the funds to subsidize a recycling program, it may be a continuing challenge.
  9. Well, now I feel invincible in the Toyota that Keith sold to me. I may drive to Hawaii tomorrow.
  10. Absolutely agree. I wouldn't be surprised if the number of flood-damaged vehicles is closer to a million. At least that many driveways went underwater between Corpus Christi and Lake Charles, and most people there have at least two vehicles. Those flooded vehicles are practically worthless, but if some unscrupulous folks can gather and ship them to Panama or anywhere else , it will happen..
  11. Keith, I think that's a model of how pricing of crude oil around the world affects Panama, rather than where our deliveries originate. Those are names of index price points for the type of crude oil and then the location of the refined products. Those indexes are the wholesale price of that type of product at that location. The real price is based on the index plus whatever it costs to get the product actually delivered to a consumer location. There is no way in the world that it would make economic sense for Panama to import gasoline from Rotterdam in the Netherlands. Sure, there are refineries there, but the shipping costs would be enormous to Panama. Same for Singapore. The indexes do have a subtle effect on each other, but they always differ based on local market conditions. Panama is getting its fuel from the cheapest sources available, just like every other country which has to import fuel. North American refinery capacity just took a big temporary hit. Pipelines cross national borders. I don't know, but I'll bet Toronto gets a lot of its gasoline from the refineries in the US. It's a global market, but local conditions of supply and demand is what sets the price at any given moment. Right now, the price of oil is falling, but the price of gasoline is rising. Why? Because those refineries shut down by the hurricane are not buying right now. Less global demand for unrefined crude oil, so prices fall. But there's less gasoline being produced globally because of this, so gasoline prices will rise. That's not a conspiracy, that's just how markets for commodities work. What we are seeing right now is a temporary condition. The refineries certainly don't want to be shut down. If the refineries aren't heavily damaged and can get back online in a couple of weeks, it really won't matter too much. Gasoline costs will drop to pre-storm levels and any effect in Panama would be short-lived.
  12. That particular page shows the Panama/US statistics. The (-) minus represents a US export. Look at this page to see the overall picture. https://www.eia.gov/dnav/pet/pet_move_neti_a_EP00_IMN_mbblpd_m.htm Scroll down to Canada, for example, and you'll see a huge positive number. All the numbers are in barrels (42 US gallons) per day, so you can see that the US is importing a lot of crude oil from Canada. But then look at Japan, or the Bahamas. Those are negative numbers because it represents the flow of petroleum and the by-products is in the other direction, i.e., exports. I have no idea where tankers at Puerto Armuelles come from. Surely not from Texas. It could be from Mexico or even Southern California. It would make sense the terminal at Colon would get product from sources in Texas, Mexico, and Venezuela. I can't find any information on the origin of all the fuel here in Panama, but the page does show that it's getting that much from US sources.
  13. Most of the US refineries are located elsewhere. Los Angeles, San Francisco, Seattle, Philadelphia, Chicago, all have enormous refineries. The Houston area is the largest single concentration of them because of the offshore oil production in the Gulf of Mexico, as well as being situated as the best port for importing oil into the United States, but it represents less than a third of US refining capacity. This site shows that Panama has been importing about 5 million gallons per month of gasoline, diesel, and jet fuel from the US. https://www.eia.gov/dnav/pet/PET_MOVE_NETI_DC_NUS-NPM_MBBLPD_M.htm Refineries in Corpus Christi and in Louisiana are still operational. But there are going to be shortages for at least a couple more weeks. There are long lines for gasoline in places as far away as Dallas.
  14. I don't know the source of Panama's fuel, but if it comes from the refineries along the Texas Gulf Coast, we shouldn't be surprised to see a significant price spike until those refineries are able to reopen after the storm.
  15. An international campaign stating that Panama is NOT for tourists, is shockingly stupid. Apparently you can get a grade of F in your Marketing class and still get a government job.