Saudi Arabia may run out of financial assets in five years' time if current spending policies are maintained, the International Monetary Fund has warned. The slump in oil prices has led to Saudi Arabia's fiscal health coming under pressure, the IMF said.

Riyadh has set out plans to cut back state spending and issue bonds to make up for the reduced revenue from lower oil prices, but the IMF warned that the efforts do not go far enough. The current price of Brent crude is around $48 a barrel, well short of the $115 a barrel it went for in June 2014. The IMF expects Saudi Arabia's budget deficit to balloon past 21% of gross domestic product this year from 3% in 2014. The deficit for next year is seen at 19%.

Bahrain and Oman are also at risk of exhausting their financial assets by 2020, the IMF warned. "For most countries, the fiscal measures currently being considered are likely to be inadequate to achieve the needed medium-term fiscal consolidation," it said in a report released on 21 October. "Under current policies, countries would run out of buffers in less than five years because of large fiscal deficits."

The financial assets of the UAE, Kuwait and Qatar, on the other hand, could last for another 20 years under current policies, the lender asserted. "Because the oil price drop is likely to be large and persistent, oil exporters will need to adjust their spending and revenue policies to secure fiscal sustainability, attain intergenerational equity, and gradually rebuild space for policy manoeuvring," the IMF said. "Adjustment plans in most... oil exporters are currently insufficient to address the large fiscal challenge."

http://www.ibtimes.co.uk/saudi-arabia-may-run-out-financial-assets-by-2020-says-imf-1525294

Someone call the waaaambulance.

An oil reservoir has been discovered in the Golan Heights, Israeli energy company Afek officially revealed on Monday.

The company, which previously only hunted at the discovery, on Monday requested permission to drill additional wells in the area.

"Initial findings from the drilling confirm the discovery of an oil reservoir in the Golan and further justifies continuing the exploration program," said the request. "We need more time for this."

In recent months Afek, a subsidiary of American company Genie Energy, has been drilling for oil in the Golan Heights. Its request to search for oil in the area was controversial.

http://www.ynetnews.com/articles/0,7340,L-4699008,00.html

Who is on the Board of Genie?

-Michael Steinhardt (SAB Chairman)
Noted Wall Street investor and Principal Manager, Steinhardt Management LLC. Founder Steinhardt, Fine, Berkowitz & Co., and noted philanthropist.

-Marry Landrieu
United States Senator from Louisiana from 1996 to 2014. Senator Landrieu served as chair of the Senate Committee on Energy and Natural Resources. In her capacity as chair, she sponsored and passed the U.S.-Israel Energy Cooperation Bill. The bill fosters partnerships focused on developing resources such as natural gas and alternative fuels, on the academic, business and governmental levels.

-Rupert Murdoch
Founder and Executive Chairman of News Corporation, one of the world’s largest diversified media companies. News Corporation’s holdings include Fox Entertainment, Dow Jones and Company, the New York Post, HarperCollins and significant media assets on six continents.

-Bill Richardson
Governor of New Mexico from 2003 to 2011. Mr. Richardson has served asU.S. Ambassador to the United Nations (1997-1998), Energy Secretary in the Clinton administration (1998-2001), Chairman of the 2004 Democratic National Convention, and as Chairman of the Democratic Governors Association.

-Jacob Rothschild, OM, GBE
Chairman of the J. Rothschild group of companies and of RIT Capital Partners plc. Chairman of Five Arrows Limited. Lord Rothschold is a noted philanthropist and Chairman of the Rothschild Foundation.

-Dr. Lawrence Summers
Charles W. Eliot University Professor and President Emeritus at Harvard University. Dr. Summers served as the 71st Secretary of the Treasury under President Clinton and as Director of the National Economic Council for President Obama.

-R. James Woolsey
Director of Central Intelligence from 1993 to 1995 and as Under Secretary of the Navy from 1977 to 1979. Mr. Woolsey is co-founder of the United States Energy Security Council and is Chairman of the Foundation for Defense of Democracies.

http://genieoilgas.com/about-us/strategic-advisory-board/

A cluster of some 20 great white sharks was recently spotted by the U.S. Coast Guard off Pacifica and Ocean Beach, an unusually large gathering that has heightened concerns about the safety of local swimmers, wind surfers and kayakers.

The sharks — many of which were between 10 and 18 feet long — were seen swimming together last week only about 100 yards offshore.

“Amazed,” exclaimed Lt. Beau Belanger, who was piloting one of two Coast Guard helicopters flying 500 feet above the ocean on Oct. 16 when they spotted the gang.

Mary Jane Schramm, spokeswoman for the Gulf of the Farallones National Marine Sanctuary, said Belanger told her that most of the sharks were between 10 and 15 feet long and a couple of them were “really big,” about 18 feet long.

“This is the first I’d heard of near-shore aggregating in such an urban area,” said Schramm, who could not recall ever seeing so many large sharks in one place.

http://www.sfgate.com/news/article/Large-cluster-of-great-whites-surprises-concerns-6587610.php

Video of a massive vehicle crash in Taiwan. After the crash the traffic just moves on, ignoring everything. When I went to Taiwan I was impressed that no one works harder or are more entrepreneurial than the Chinese. After a brick and mortar business closes, one will open in their doorway. After that business closed around midnight, if it's a good location one will open over night.

I saw someone working in a beauty salon doing hair at 1AM. China, at least Taiwan, never sleeps.

http://www.liveleak.com/view?i=779_1445674546

Notice the traffic doesn't stop.

Not sure I'd be swimming in the bay.

Source: Daily Mail UK

It is believed he was killed in the Syrian capital of Aleppo.

The cause of his death has not yet been confirmed.

However, it is considered a devastating blow to the terror group's operations in the war torn Middle Eastern country.

Al-Nusra - or The Front for the Defence of the Syrian People - is considered the second most powerful jihadist group in Syria after the Islamic State



Read more: http://www.dailymail.co.uk/news/article-3287566/Al-Qaeda-s-leader-Syria-Sheikh-Abu-Sulaiman-Al-Masri-killed-Aleppo.html

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Graphic Picture at the link

I HAVE known Bashar al-Assad, the president of Syria, since he was a college student in London, and have spent many hours negotiating with him since he has been in office. This has often been at the request of the United States government during those many times when our ambassadors have been withdrawn from Damascus because of diplomatic disputes.

Bashar and his father, Hafez, had a policy of not speaking to anyone at the American Embassy during those periods of estrangement, but they would talk to me. I noticed that Bashar never referred to a subordinate for advice or information. His most persistent characteristic was stubbornness; it was almost psychologically impossible for him to change his mind — and certainly not when under pressure.

Before the revolution began in March 2011, Syria set a good example of harmonious relations among its many different ethnic and religious groups, including Arabs, Kurds, Greeks, Armenians and Assyrians who were Christians, Jews, Sunnis, Alawites and Shiites. The Assad family had ruled the country since 1970, and was very proud of this relative harmony among these diverse groups.

When protesters in Syria demanded long overdue reforms in the political system, President Assad saw this as an illegal revolutionary effort to overthrow his “legitimate” regime and erroneously decided to stamp it out by using unnecessary force. Because of many complex reasons, he was supported by his military forces, most Christians, Jews, Shiite Muslims, Alawites and others who feared a takeover by radical Sunni Muslims. The prospect for his overthrow was remote.

http://www.nytimes.com/2015/10/26/opinion/jimmy-carter-a-five-nation-plan-to-end-the-syrian-crisis.html?_r=0

President Carter, you belong to a different era. Hearing your refreshing, peace centered message, is refreshing.

Source: Guardian UK

The US secretary of state, John Kerry, and Russia’s foreign minister have spoken about holding talks between the Syrian government and the opposition.

In a telephone conversation on Saturday held at the request of Kerry, he and Sergei Lavrov also discussed enlisting other countries in the region to help push the political process forward, the Russian foreign ministry said.

Lavrov also appeared on Russian state TV on Saturday urging an intensification of efforts to find a political solution to the war. He said Moscow was ready to coordinate with the US in fighting terrorism in Syria.

He also said that Russia would be ready to help western-backed Free Syrian Army rebels if it knew their locations.


Read more: http://www.theguardian.com/world/2015/oct/24/russian-intervention-in-syria-a-gift-to-terrorists-says-gulf-council-leader

Learn to be dead for the day: Suicidal people are locked into coffins in bizarre 'death experience' schools in South Korea where 40 people kill themselves every day




South Korea is facing a suicide crisis as a huge number of people are becoming depressed due to the pressures of modern life and killing themselves.

The sad statistic that 40 people kill themselves every day is blamed on the country’s hyper-competitive society where young people are under constant pressure to succeed while the middle-aged and elderly complain of ever-growing financial burdens.

But in a strange response to the country's growing suicide epidemic, bizarre 'death experience' schools are being set up to teach depressed pupils to appreciate life again, by showing them what it’s like to be dead.

http://www.dailymail.co.uk/news/article-3284587/Learn-dead-day-Suicidal-people-locked-coffins-bizarre-death-experience-schools-South-Korea-40-people-kill-day.html

No words....