Planned Gold (Ortiz) Mine

By Mark Oswald / Journal Staff Writer on Thu, May 24, 2012

"A company that wants to mine for gold in the Ortiz Mountains southeast of Madrid again has a lease to explore and mine in the area, thanks to the settlement of a federal lawsuit.


“Now that the litigation is behind us, we intend to proceed immediately with our proposed work programs,” Pierce Carson, president and CEO of Santa Fe Gold Corp., said in an announcement Wednesday.


“We believe new technical studies will support our previous preliminary conclusion that the Ortiz gold deposits form the basis of an economically attractive mine development.”


Carson, of Albuquerque, acknowledged in an interview that any mining is still probably several years away, following technical, biological, environmental and archeological studies and then efforts to get through the permitting process of both state government and Santa Fe County.


The county enacted a tough zoning ordinance regulating extractive industries after an oil and gas drilling proposal provoked controversy about five years ago.


“We think the effect on the environment is reasonably minimal,” Carson said. “We don’t have to use chemicals to extract the gold.”


Last year, Santa Fe Gold sued Kansas-based Ortiz Mines, Inc., after that company terminated Santa Fe Gold’s lease to explore and mine for gold and other minerals on about 43,000 acres of the Ortiz Mine Grant.


Santa Fe Gold obtained a seven-year mineral lease with Ortiz Mines in 2004 and made the deal public in 2008. Santa Fe Gold said in the 2011 lawsuit that it had made $753,224 in lease payments so far.

But Ortiz Mining served notice last June that it was terminating the lease, citing concerns that Santa Fe Gold wasn’t doing enough to move the project forward.


Santa Fe Gold maintained it had met all lease obligations. Santa Fe Gold also blamed Ortiz Mines for creating a negative climate for mining or drilling in the Santa Fe area because it had leased mineral rights to Texas-based Tecton Energy in 2007. Those plans set off a public uproar that drove off Tecton and resulted in the restrictive new county ordinance."  More>>>>

New Mexico judge halts pit rule appeals

Susan Montoya Bryan | The Associated Press

"ALBUQUERQUE — A state district judge on Tuesday sided with New Mexico's oil and gas industry, putting on hold legal appeals related to efforts by the industry to revamp rules for handling drilling and production wastes.

The New Mexico Oil and Gas Association had asked for the appeals process to be halted so the state Oil Conservation Commission could tackle the so-called pit rule administratively.

The commission has scheduled a weeklong hearing later this month to address the industry's proposed changes to the rule, but environmentalists are seeking to stop the proceeding. " More>>>>

EPA: Fracking may cause groundwater pollution

By Mead Gruver, Associated Press

"CHEYENNE, Wyo. – CHEYENNE, Wyo. (AP) — The U.S. Environmental Protection Agency announced Thursday for the first time that fracking — a controversial method of improving the productivity of oil and gas wells — may be to blame for causing groundwater pollution.

The draft finding could have significant implications while states try to determine how to regulate the process. Environmentalists characterized the report as a significant development though it met immediate criticism from the oil and gas industry and a U.S. senator." More>>>>

Debate over fracking heats up

SANTA FE (KSFR)

"Fracking debate before state Oil and Gas Commission

SANTA FE -- As the issue becomes talked about more and more, industry has moved to start talking about it publicly. The New Mexico Oil and Gas Association is taking part in a nationwide program conducted by the industry to disclose the chemical compounds in fracking fluids. When the initiative came up this past summer, Steve Henike of the state industry group says they want the Oil and Gas Commission to approve disclosure of fracking compounds after a well is drilled. But Doug Micklejohn of the New Mexico Environmental Law Center says disclosure should take place before, not after, the fact. " Listen>>>>

Supreme Court refuses to hear renewable fuel case

Market Pulse Archives

Nov. 7, 2011, 1:07 p.m. EST

By Steve Gelsi

"NEW YORK (MarketWatch) -- The U.S. Supreme Court on Monday declined to hear a request from the oil and chemical industry to strike down the Renewable Fuel Standard (RFS). The National Petrochemical and Refiners Association (NPRA); as well as the American Petroleum Institute submitted a petition in July for the U.S. Supreme Court to take up the case." More>>>

Cuadrilla Resources confirms that fracking caused earthquakes

Reuters
"LONDON, Nov 2 (Reuters) - Shale gas exploration triggered small earthquakes near Blackpool in northwest England earlier this year, UK firm Cuadrilla Resources said, adding to concerns about the safety of a technology that is transforming U.S. energy markets." More>>>>

Senator wants debate on pipeline safety bill

CBS/AP

"(AP) WASHINGTON — The only senator opposed to a bill to toughen federal safety regulation of oil and gas pipelines said Wednesday he's willing to work with Senate leaders to schedule a debate on the measure, but he's still blocking expedited passage.

Sen. Rand Paul, R-Ky., who is philosophically opposed to federal regulation, also blamed Democratic leaders for the Senate's failure to act on the measure, saying they could have scheduled a debate and vote on the bill at any time."...

..."The bill is supported by the industry's major trade associations — the Interstate Natural Gas Association of America, the American Gas Association and the Association of Oil Pipelines — as well as the Pipeline Safety Trust, a safety advocacy group."...

..."Paul's actions show he is "blinded by ideology" and "indifferent to the overwhelming evidence that self-regulation of the gas industry is a prescription for further death and injury," Speier said in a statement." More>>>>

New York fracking lawsuit could set drilling precedent

Reuters

Mon Sep 19, 2011 7:04pm EDT

"* Anschutz Exploration files suit against town of Dryden

* Unincorporated town amended zoning to bar gas drilling

* State department has recommended end to NY drilling ban

By Dan Wiessner

ALBANY, NY, Sept 19 (Reuters) - A lawsuit challenging a small town's ban on natural-gas drilling could have implications throughout New York state, where officials are poised to approve a controversial drilling method known as fracking.

Privately held Anschutz Exploration Corp filed suit on Friday against Dryden, a rural suburb of Ithaca with about 13,000 residents that last month amended its zoning laws to bar all gas drilling within its unincorporated borders.

New York's Department of Environmental Conservation has recommended ending a year-long ban on drilling in New York, although a public comment period on the rules was extended this month following concerns that fracking contaminates underground wells and aquifers.

The Anschutz suit, which asks the state Supreme Court in Tompkins County to invalidate the amendment, is the first to test the legal implications of the state's move.

Fracking, or hydraulic fracturing, involves cracking open rocks deep underground with a blast of sand, water and chemicals to unleash natural gas and oil.

Anschutz, which controls more than 22,000 acres in Dryden, said New York's Environmental Conservation Law bars local governments from any regulation of drilling." More>>>>

Gold Firm Loses Lease

Albuquerque Journal North
Mark Oswald
Sept. 4, 2011

"A company with plans to mine for gold in the Ortiz Mountains southeast of Madrid says in a lawsuit that it has a better chance of getting the necessary approvals now that New Mexico has a governor with “a pro-business stance.” Also, the Albuquerque-based Santa Fe Gold Corp. says in a federal court complaint, Santa Fe County’s “politically liberal” population may be more willing to support mining operations these days, because of the jobs it could bring during the recession’s economic hard times.

But Santa Fe Gold Corp. has lost the lease to explore for and mine gold and other minerals on about 43,000 acres of the Ortiz Mine Grant.

On Tuesday, the mining company filed suit accusing mineral rights owner Ortiz Mines Inc., of Kansas of breach of contract.

The lawsuit also reveals that Santa Fe Gold – despite losing the lease – has already obtained a state “general mining permit” for preliminary work at the Ortiz Mountain site, issued Aug. 19.

The state Mining and Minerals Division provided a copy of the permit this week. It grants conditional approval for a year for a “mining disturbance” not to exceed two acres consisting of “collecting rock samples by hand and baseline environmental data collection.”

Santa Fe Gold obtained a seven-year mineral lease with Ortiz Mines in 2004 and made the deal public in 2008. Santa Fe Gold says in its lawsuit that it has made $753,224 in lease payments so far.

But Ortiz Mining served notice in June that it was terminating the lease, citing concerns about Santa Fe Gold’s effort to move the project forward."...

..."The suit goes on to note the current poor economy and record-high gold prices and says the “public fervor over Tecton’s plans to drill for oil and gas has largely abated.”

“While the population of Santa Fe County is politically liberal, current economic conditions make it more likely that public support can be generated for support of the Ortiz Project,” the suit states.

No county application"... More (subscription or trail pass required)>>>>

Related posts:

No Plans for Mine on Ortiz Ranch

Mineral Rights Questions Crop Up at Meeting

Santa Fe County Model Mining Ordinance Under Attack

"Gold claims draw skepticism"

Santa Fe Gold Corporation to Mine the Ortiz?

"Santa Fe Gold eyes mining in the Ortiz Land Grant" - KSFR

Energy Secretary signals green light likely for XL Pipeline

Nebraska StatePaper.com

"U.S. Secretary of Energy Steven Chu is saying nice things about the controversial sand tar oil pipeline that TransCanada wants to run across the Nebraska Sandhills and over the Ogallala Aquifer.

It is a clear signal that the Obama administration is likely to let TransCanada build the XL Pipeline that would / will run from Alberta across several states to the Gulf Coast of Texas."

More>>>>

BP Can Deny It All They Want But That Looks Like Oil Again At Deepwater

Business Insider

"Somehow the fact BP hired 40 ships to lay booms around the growing slick at the Deepwater site slipped past most media attention early last week.

The Tallahassee Examiner reports that on top of the 40 Vessels of Opportunity hired to contain the renewed spill, BP assigned two of its own vessels to the location. The Helix Producer 1 is an oil production ship able to manage 45,000 barrels of oil a day, and the Helix Express carries an underwater construction vessel."

Read more: http://www.businessinsider.com/deepwater-horizon-leaking-2011-9#ixzz1WoRFCmfG

U.S. to Slash Marcellus Shale Gas Estimate 80%

Bloomberg
By Jim Efstathiou Jr. and Katarzyna Klimasinska - Aug 23, 2011 2:17 PM MT

"The U.S. will slash its estimate of undiscovered Marcellus Shale natural gas by as much as 80 percent after a updated assessment by government geologists.

The formation, which stretches from New York to Tennessee, contains about 84 trillion cubic feet of gas, the U.S. Geological Survey said today in its first update in nine years. That supersedes an Energy Department projection of 410 trillion cubic feet, said Philip Budzik, an operations research analyst with the Energy Information Administration.

“We consider the USGS to be the experts in this matter,” Budzik said in an interview. “They’re geologists, we’re not. We’re going to be taking this number and using it in our model.”

The revised estimates, posted on the agency’s website, are likely to spur a debate over industry projections of the potential value of shale gas." More>>>>

Fracking might have caused Colorado/New Mexico Area Quakes

http://www.publicbroadcasting.net/ksfr/news.newsmain?action=article&ARTICLE_ID=1843949

Listen at KSFR

"SANTA FE, Aug. 23 -- Following a succession of earthquakes near New Mexico's northern border, geology professor Rick Astor of New Mexico Tech says one possibility for the "swarm" of quakes in that area is the prevalance of energy drilling there.

He says faults inside the earth have stress and often can slip. "Earthquakes could be induced if the fault's frictional properties are altered by the injection of (fracking) fluids."'

60 Minutes: "A look at the world's new corporate tax havens"

60 Minutes
August 14, 2011

"(CBS News)

Our government is in knots over ways to lower the federal budget deficit. Well, what if we told you we found a pot of money - over $60 billion a year - that could be used to help out?

That bundle is tax money not coming in to the IRS from American corporations. One major way they avoid paying the tax man is by parking their profits overseas. They'll tell you they're forced to do that because the corporate 35 percent tax rate is high in relation to other countries, and indeed it seems the tax code actually encourages companies to move businesses out of the country.

Tax havens: Do companies pay their fair share?
"60 Minutes" correspondent Lesley Stahl talks tax havens and the new ways American companies are stashing their profits abroad.

Companies searching out tax havens is nothing new. In the 80s and 90s, there was an exodus to Bermuda and the Cayman Islands, where there are no taxes at all.

When President Obama threatened to clamp down on tax dodging, many companies decided to leave the Caribbean, but as we first told you in March, instead of coming back home, they went to safer havens like Switzerland.

Several of these companies came to a small, quaint medieval town in Switzerland called Zug.

Hans Marti, who heads Zug's economic development office, showed off the nearby snow-covered mountains. But Zug's main selling point isn't a view of the Alps: he told Lesley Stahl the taxes are somewhere between 15 and 16 percent.

"And in the United States it's 35 percent," Stahl pointed out.

"I know. It's half price," Marti said.

Marti told Stahl that Zug most probably has the lowest tax rates in Switzerland.

"So you're kind of a tax haven within a tax haven?" she remarked.

"Maybe, yes," he acknowledged.

The population of the town of Zug is 26,000; the number of companies in the area is 30,000 and growing at an average rate of 800 a year. But many are no more than mailboxes.

Texas Democratic Congressman Lloyd Doggett questions whether the recent moves of several companies are legit. "A good example is one of my Texas companies that's been in the news lately, Transocean," Rep. Doggett told Stahl.

Transocean owned the drilling rig involved in the giant BP oil spill. They moved to Zug two years ago.

Extra: Benefits of bringing back cash
Extra: How to shift profits

"I'm not sure they even moved that much. They have about 1,300 employees still in the Houston area. They have 12 or 13 in Switzerland," Doggett told Stahl.

"And yet they claim that they're headquartered over there," Stahl remarked.

"They claim they're Swiss. And they claim they're Swiss for tax purposes. And by doing that, by renouncing their American citizenship, they've saved about $2 billion in taxes," Doggett explained.

Stahl and "60 Minutes" decided to visit their operations in Zug.

A woman at the door told Stahl, "At the moment my boss is not here."

She said her boss wasn't there and we should call someone halfway around the world, in Houston.

"But this is the headquarters," Stahl remarked.

"I know," the woman said.

When asked if the CEO was there or is normally at the Zug office, the woman said "No."'

Produced by Shachar Bar-On

• 1
• 2
• 3
• 4
• Next Page »"

Link>>>>

Gas Fracking Poses Serious Environmental Risks, U.S. Panel Finds

Bloomberg
By Jim Efstathiou Jr. - Aug 11, 2011 9:23 AM MT

"Natural-gas companies risk causing serious environmental damage from hydraulic fracturing unless they commit to the best engineering practices, a task force named by Energy Secretary Steven Chu concluded.

Regulations to protect public health will work best when drillers embrace techniques that avoid “undesirable consequences,” according to a draft report today by a subcommittee of the Secretary of Energy Advisory Board. The increased use of fracturing, or fracking, which forces water and chemicals into rock, raises the potential for a “serious problem,” the panel found.

The report offered recommendations for companies involved in fracking, such as Chesapeake Energy Inc. and Southwestern Energy Co. (SWN), to follow, and guidelines for state regulators that oversee drilling.

“While many states and several federal agencies regulate aspects of these operations, the efficacy of the regulations is far from clear,” according to the report. “Effective action requires both strong regulation and a shale-gas industry in which all participating companies are committed to continuous improvement.”

The Environmental Working Group in Washington, which advocates for clean air and water, questioned the findings of a panel it said was dominated by the gas industry. The Independent Petroleum Association of America in Washington, which represents oil and gas companies, said the report marks “a useful starting point,” for discussions." More>>>>

New Mexico Oil and Gas Association proposes rule for disclosing makeup of fracking fluids

SUSAN MONTOYA BRYAN Associated Press

"ALBUQUERQUE, N.M. — Looking to avoid the criticism that has dogged energy producers in other states, a New Mexico industry group introduced a proposal Monday that would require drilling companies to be more transparent when it comes to using hydraulic fracturing fluids to extract oil and gas." More>>>>

EPA takes hard line on PNM power plant pollution

(2011-08-05)

SANTA FE (KSFR) -
"In a victory for environmentalists, the EPA is going to require that PNM reduce nitrogen oxide emissions at its four-corners generating station by 80 percent. The company and the state had both recommended a 20 percent reduction.

The EPA is giving PNM two additional years to meet the requirement at its 40-year-old, coal-fired San Juan power plant. It must complete the work in five years instead of the three-year period that had been discussed.

PNM says the EPA plan will cost upwards of $750 million while the company's alternative would have cost about 10 percent of that amount. PNM says customers may well have to shoulder the costs.

PNM says it plans to appeal the decision."

http://www.publicbroadcasting.net/ksfr/news.newsmain/article/1/0/1837032/KSFR.Local/EPA.takes.hard.line.on.PNM.power.plant.pollution

Board eyes greenhouse-gas rules

Environmentalists decry decision to reopen hearings

Jeri Clausing | The Associated Press

"ALBUQUERQUE — A state board appointed by Gov. Susana Martinez agreed Monday to consider repealing greenhouse-gas regulations opposed by her administration, utilities and oil and gas companies.

The Environmental Improvement Board scheduled a series of public hearings beginning Nov. 8 on the rules, which were put in place under former Gov. Bill Richardson.

Martinez calls the carbon controlling rules a "cap and tax" and included them on a list of Richardson-era environmental regulations that she has targeted as hampering business growth in the state.

Public Service Company of New Mexico and others had gone to court seeking to overturn the rules. The state Court of Appeals and the Supreme Court agreed recently to let the parties take the issue back to regulators for consideration.

The decision to reopen hearings on the matter raised the ire of environmentalists, who have accused Martinez's administration of secretly colluding with polluters by holding meetings with the plaintiffs in the lawsuit in an effort to move the case out of the courts and back under the administration's control. " More>>>>

Enviros win voice in carbon battle

Court: Groups can intervene in feud over emissions rules repeal

Susana Montoya Bryan | The Associated Press
Posted: Wednesday, July 27, 2011

"The New Mexico Supreme Court on Wednesday cleared the way for environmental groups to intervene in an ongoing legal battle over whether the state should regulate greenhouse-gas emissions.

Attorneys for the groups said the justices' unanimous decision will ensure that proponents of the regulations will have a seat at the table if courts have to determine the fate of the state's carbon emissions policies. " More>>>>

Showdown in Tierra Amarilla

Land Grant Committee (interim) meeting tomorrow regarding the Tierra Amarilla Land Grant mineral rights issue:

Details from the Rio Grande Sun:

"The state legislature’s interim Land Grant Committee scheduled a meeting beginning at 10 a.m. July 28 at the Abiquiú Community Center. The meeting aims to address various land grant issues, focusing on the Tierra Amarilla Land Grant mineral rights issue at 1:45 p.m. Wells, the president of the Board, is scheduled to testify."

The rest of the story:

"Oil company's quiet deal with Land Grant sparks anger, internal mistrust"

By Andrew Kasper
SUN Staff Writer

Published:

Thursday, July 21, 2011 10:08 AM MDT

"After news of a questionable buyout and controversial plans to drill for oil on the Tierra Amarilla Land Grant became public, oil man Jack Steinhauser stepped into the lion’s den.

He visited Tierra Amarilla July 13 and stood before a group of agitated and confused Land Grant heirs and attempted to explain his plans to drill on land that belonged to their ancestors, while also trying to clarify how a $233,000 payment that was intended for the entire Land Grant ended up in the hands of just three Board members — without the rest of the members’ knowledge.

The payment was in exchange for a 2008 legal promise, or waiver, by the Land Grant that none of the members would pursue a future claim to the oil Steinhauser and his company, Wind River Energy, are poised to extract from 93,000 acres in northern Rio Arriba County and southern Colorado." More>>>>

Governor considers replacement of state's top water official

Staci Matlock | The New Mexican

"The governor's staff is once again looking for candidates for the state's top water job.

Current State Engineer John D'Antonio, confirmed under former Gov. Bill Richardson, is welcome to reapply for the job, said Scott Darnell, a spokesman for Gov. Susana Martinez.

"No decision has been made to replace Mr. D'Antonio, but the Governor wants to ensure that a wide range of options are considered before selecting a permanent State Engineer," Darnell said via email."...

..."Hernandez said he was told he was part of a search committee. "They called us individually and asked us to submit names by today (Monday)," Hernandez said. "I was the first one called, so I assumed I would head the committee."

Darnell, however, said no formal search committee has been formed. "We are asking for input from people throughout the state who are familiar with the critical water issues facing New Mexico ... ," Darnell said. "Unlike the transition, this is not a formal search committee; rather, it is an effort to cast a wide net and be inclusive in seeking a full range of options regarding the State Engineer's Office. We have reached out to a number of individuals and groups seeking their input, ranging from farmers, business people, and even the New Mexico Environmental Law Center."

Douglas Meiklejohn, executive director of the New Mexico Environmental Law Center, confirmed the organization was asked to submit names for state engineer. "We respectfully declined to be involved in that process," he said, also declining to comment on why.

Meiklejohn also declined to comment on whether or not he thought D'Antonio should be replaced. " More>>>>

Environment Department official resigns after bureau move

Staci Matlock | The New Mexican

"A top official with the state Environment Department resigned Tuesday morning, a day after the bureau overseeing Los Alamos National Laboratory's compliance with hazardous-waste regulations was moved from his division.

It was one more shake-up in a department that's seen more than a few in the last six months."...

..."The decision to move the bureau was made by Environment Department Secretary F. David Martin and Deputy Secretary Raj Solomon. They did not respond to questions regarding Davis' departure.

People familiar with the situation, who asked to remain anonymous for fear of repercussions, said the decision to yank the bureau from Davis' division was the final straw in a string of disagreements he had with the new administration. They believe the change was prompted by a recent notice of violation that Davis' division was pursuing against LANL for failing to meet some terms of the consent decree. A LANL spokesman confirmed there was a notice of violation, with fines proposed, but the spokesman referred questions to the Environment Department.

Gov. Susana Martinez made it clear in the first week of her administration that she intended to do away with any policies she deemed unfriendly to business. The Environment Department rapidly became a focus of her attention. The administration set out to undo or overturn new rules and regulations, from green-building codes to greenhouse-gas emissions, which officials said were detrimental to industry." More>>>>

MOODY'S PLACES RATINGS OF FIVE OF 15 Aaa STATES ON REVIEW FOR POSSIBLE DOWNGRADE DUE TO U.S. SOVEREIGN RISK VULNERABILITY

Deregulation of the financial industry set the table for the financial crisis. As deregulation continues to be proffered for budget woes, such as for oil and gas drilling, the following Moody's warning is something to keep an eye on and to keep in mind as part of the many unfolding consequences of financial deregulation.

"APPROXIMATELY $24 BILLION OF RATED DEBT AFFECTED; HIGH FEDERAL EMPLOYMENT AND MEDICAID EXPOSURE CITED

New York, July 19, 2011 -- Moody's Investors Service has placed on review for possible downgrade the Aaa ratings of the states of Maryland, New Mexico, South Carolina, Tennessee, and the Commonwealth of Virginia. In connection with Moody's July 13 action placing the Aaa government bond rating of the United States on review for downgrade, Moody's announced that it would assess the ratings of Aaa-rated states to gauge their sensitivity to sovereign risk. The review actions affect a combined $24 billion of general obligations and related debt.

Should the U.S. government's rating be downgraded to Aa1 or lower, these five states' ratings would likely be downgraded as well. Moody's will review the ratings of the five states on a case-by-case basis and announce any rating actions within seven to ten days following a sovereign action."...

..."NEW MEXICO

• Sensitivity to national economic trends compared to other Aaa-rated states based on Moody's Economy.com measure of employment volatility due to U.S. fluctuations: Below average

• Federal employees as a percentage of the state's total employment: Above average

• Capital markets risk: Relatively high due to above average amount of puttable variable rate debt outstanding

• Federal procurement contracts as a percentage of state gross domestic product: Above average

• Medicaid as a percentage of total expenditures: Above average

• Available fund balance as a percentage of operating revenue: Above average" More>>>>

Related article:

Big US Banks Ate Everyone's Lunch: Strategist

BP slips up again

MarketWatch Blogs

"In a fresh challenge for BP PLC’s BP effort to clean up its act, up to 4,200 gallons of oil-containing fluids leaked from a BP pipeline during a pressure test at its Lisburne oil field in Alaska’s Prudhoe Bay, according to reports over the weekend. The Anchorage Daily reported that local officials said the ground shook from the force of the line break. BP Exploration (Alaska) Inc. estimated the spill size at 2,100 to 4,200 gallons of methanol and other fluids, including crude oil." More>>>>

The World Factbook: Natural gas - proved reserves

Central Intelligence Agency

An excerpt from The World Factbook:

"This entry is the stock of proved reserves of natural gas in cubic meters (cu m). Proved reserves are those quantities of natural gas, which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions." Link >>>>

Top ten:

"1 Russia 47,570,000,000,000

2 Iran 29,610,000,000,000

3 Qatar 25,470,000,000,000

4 Turkmenistan 7,504,000,000,000

5 Saudi Arabia 7,461,000,000,000

6 United States 6,928,000,000,000

7 United Arab Emirates 6,071,000,000,000

8 Nigeria 5,246,000,000,000

9 Venezuela 4,983,000,000,000

10 Algeria 4,502,000,000,000"