Review Category : News

Overview: EIA estimates the South China Sea contains approximately 11 billion barrels of oil and 190 trillion cubic feet of natural gas in proved and probable reserves. Conventional hydrocarbons mostly reside in undisputed territory. Undiscovered resources could be greater. In November 2012, the Chinese National Offshore Oil Company (CNOOC) estimated the area holds around 125 billion barrels of oil and 500 trillion cubic feet of natural gas in undiscovered resources, although independent studies have not confirmed this figure.

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ExxonMobil signed two agreements January 13 relating to the Ca Voi Xanh (Blue Whale) gas project offshore Vietnam. The project could fuel at least four power plants shortly after scheduled first gas in 2023. “The Ca Voi Xanh field is located about 80 km offshore central Vietnam and is an important natural gas discovery in Vietnam that has the potential to fuel the country’s economic growth.”

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Now, it’s no secret that the future of the Trans Pacific Partnership is uncertain. I can’t predict what the new administration is going to do with respect to trade, but I can tell you that the fundamental reasons for the TPP haven’t changed. The fundamental need of countries to be able to sell their goods to other countries hasn’t changed. And the United States of America cannot grow and get stronger unless we too are able to sell goods to the other 95 percent of the customers in the world.

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Now in its 30th year, Asia/Pacific Business Outlook (APBO) is North America’s premier event for business leaders who want to expand their trade and investment in the Asia/Pacific region. The USC Marshall School of Business and the U.S. Department of Commerce have been working together on APBO since 1988 to help exporters and investors take advantage of tremendous opportunities and overcome challenges in the constant changing economies of Asia. 

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President-elect Donald Trump will nominate lawyer Robert Lighthizer as U.S. trade representative, picking an experienced trade official who has questioned the conservative movement’s commitment to free trade. Experts say that veteran attorney Robert Lighthizer is uniquely qualified to transform the rhetoric into actual concrete policy. Where Robert Lighthizer differs from others  is his firsthand experience with the ins and outs of U.S. trade law.

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The Seafood Import Monitoring Program final rule to combat fish fraud and illegal fishing was issued on Dec 8, 2016. The rule requires that fish species most often passed off fraudulently or at risk of illegal fishing be tracked from their source of origin before they can be imported to the United States. It requires retention of supply chain data by the importer of record and extends an existing NMFS requirement to obtain an annually renewable International Fisheries Trade Permit (IFTP) to import the seafood and seafood products regulated under this rule.

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Congressional Republicans plan quick action on several of their top priorities — most notably a measure to clear a path for the Affordable Care Act’s repeal. Perhaps the first thing that will happen in the new Congress is the push for deregulation. Also up early: filling a long-vacant Supreme Court seat, which is sure to set off a pitched showdown, and starting confirmation hearings for Mr. Trump’s cabinet nominees.

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