Iran to take control of world's oil trade in 2005

[cthrumatrix]

Iran to take control of world's oil trade in 2005

*** In 2005 Iran will launch a new oil exchange that is expected to put an end to Western domination of the international oil trade. The US and UK, currently home to the world's largest oil markets, are unlikely to allow Iran to undermine their control of the oil trade without putting up a fight. ***

Iran is to launch an oil trading market for Middle East and Opec producers that could threaten the supremacy of London's International Petroleum Exchange.

A contract to design and establish a new platform for crude, natural gas and petrochemical trades is expected to be signed with an international consortium within days.

http://www.theinsider.org/mailing/article.asp?id=0508


Published on Wednesday, October 27, 2004 by Global Research

The Real Reasons Why Iran is the Next Target: The Emerging Euro-denominated International Oil Marker
by William Clark


The Iranians are about to commit an "offense" far greater than Saddam Hussein's conversion to the euro of Iraq’s oil exports in the fall of 2000. Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005. While the publicly stated reasons will be over Iran's nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare - Iran's upcoming euro-based oil Bourse.

In 2005-2006, The Tehran government has a developed a plan to begin competing with New York's NYMEX and London's IPE with respect to international oil trades - using a euro-denominated international oil-trading mechanism. This means that without some form of US intervention, the euro is going to establish a firm foothold in the international oil trade. Given U.S. debt levels and the stated neoconservative project for U.S. global domination, Tehran's objective constitutes an obvious encroachment on U.S. dollar supremacy in the international oil market

snip

http://www.energybulletin.net/2913.html

I guess we know why the US wants to invade Iran. Trading Oil in Euro's is "not good" for the US.

[jus_the_facts]

1. ......

:nuke:

:evilfrown:


:nopity:

[Karenina]

2. And AWAY we go...

Don't touch that dial!

[Lorien]

3. Saddam had planned to switch to Euros too

hence the rush to war.

[xpat]

21. Saddam _did_ switch

The only he sold under sanctions control was for euros.

[nadinbrzezinski]

4. Ah I see, the reason why we are gonna go to war

It is 'bout oil and control once again

[BadGimp]

5. Well how about that...

This defintely ranks at or near the top of a list of the 10 best ways to Guarantee a US Invasion...

[b...]

6. hey, this is some great news [/sarcasm] n/t

[bloom]

7. I could be imagining things

but it seemed to me that the PBS "House of Saud" show (on last night) was designed to prepare Americans to accept war against Saudi Arabia as well.



"Saudi Arabia - one of the United States' most important allies for more than 60 years - is home to vast oil fields and a wealthy, often extravagant, monarchy. It is also home to 15 of the 19 terrorists responsible for the attacks of September 11, 2001.

In "House of Saud," airing on PBS Tuesday, February 8, FRONTLINE examines America's troubled relationship with Saudi Arabia and the family that has led the country since its inception in 1902.

Until 9/11, most Americans paid little attention to how the Kingdom of Saudi Arabia was run. But in the aftermath of the attacks, America awoke to some difficult truths about its longtime ally: for decades, Saudi wealth and charities supported individuals and organizations dedicated to doing America harm, and its universities and religious schools - known as madrassas - prepared countless young men for jihad against the West.

Today, Saudi television broadcasts programs on which children read poems against Jews and in praise of Islamic martyrs. Twenty-six Saudi clerics recently issued a fatwa, or edict, encouraging Muslims to fight the Americans in Iraq. And in December 2004, gunmen attacked the American consulate in Jeddah.

"Investigating the history of the U.S.-Saudi partnership, it quickly becomes clear that this is an alliance built on quicksand," says co-producer Martin Smith, who has reported from the region for previous FRONTLINE films including "Saudi Time Bomb?" and "In Search of Al Qaeda."

http://www.pbs.org/previews/frontline_houseofsaud/

[ThorsHammer]

11. Very interesting

IMO, this won't happen with the current family in power, as they have a long relationship with the U.S. (House of Bush, House of Saud has a ton of info on this). However, if the hardline extremists take over, all bets are off, and some conflict is very likely.

[xpat]

22. "as they have a long relationship with the U.S."

Satraps are expendable.

[snooper2]

12. We should have bombed Saudia Arabia after 9/11

Since that is where the money and the crazy fundametalism comes from...rather than Afghanistan and Iraq...

But, Bush is a pussy and they are his friends...

[cthrumatrix]

13. 28 pages didacted from the 911 report.... bush covering the for

saudi's and the oil relatiosnhip... that benefits the few..the priveledged

[Turley]

8. Easier said than done

It's not easy to swipe market share from established exchanges. Just ask Eurex how much biz they took away from CBOT.

In any case I suspect traders would be the main beneficiary of a new Iranian market as they would arbitrage the shit out of it.

[smoogatz]

9. But isn't the threat of Euroization enough

to galvanize the Bushco Iran/nukes/war propaganda effort? I mean, if the oil economy switches to Euros, we're SOL, right?

[cthrumatrix]

10. the US dollar would certainly be under pressure

[Turley]

19. It would only switch to Euros

if a new market were able to significantly take market share from established oil markets. Easier said than done. Not ruling it out of course.

In any case, I get paid in Euros so I suppose I should be rooting for it.

[SnowGoose]

14. Yes, there are two paths you can go down....

So, we could somehow try to extricate ourselves from Iraq-nam whilst leaving some semblance of stability, then spend another 200-400 billion invading Iran (probably need a draft), *maybe* subdue and pacify the country after several years, or at least the oil fields (assuming China doesn't interfere, since they have a new agreement with Iran), and wind up somehow keeping our non-renewable, polluting, health-damaging, and environment-killing petro economy....

or

we could put that same 200-400 billion and several years into finding alternative energy sources that wouldn't run out or kill us.

Hmmmmm... wonder what Bush will do?

[mr blur]

15. Right. They need Freedom and Democracy imposed on them right now! (nt)

[Stop_the_War]

16. The title's a bit misleading.....n/t

[Zinfandel]

17. It has nothing to do with what's "good" for the US.

"Trading Oil in Euro's is "not good" for the US."

We the people, are the US. They are the multi-nationals who don't give one shit about the American people or anyone else.

They use the American military for their own imperialism and their control of the dollar and will NOT allow it to be challenged nor compromised by less profits.

We don't see anything for our tax dollars, however, our tax dollars pays for their military machine, corporate subsidies, tax cuts, and the exploitation and pollution of our planet.

They are not interested in what's fair or the "free market" they want to control all the cards and will destroy any who get in their way...in the name of bullshit patriotism. Including the lies as the reasons for their illegal invasions.

[cthrumatrix]

18. bingo.... the "state media" will do it's best to keep people uninformed!

[bushisanidiot]

20. We've declared war for much less. Looks like the Bush Oil. Co. is gonna

use our tax dollars to "spread freedom and democracy" in Iran.

let's see. how will the chimp justify the next "shock & awe" in order to slaughter thousands of innocent iranians? oh yeah! only men voted in their recent election. good enough for the brain dead ditto heads! let's roll!!!!!


blah.

[xpat]

23. And N. Korea in all this?

It seems pretty clear that the real problem is that Iran plans to set up a euro-denominated oil market (Wimpole).

http://www.globalresearch.ca/articles/CLA410A.html
and
http://www.feasta.org/documents/review2/nunan.htm

Washington is not interested in letting this cat out of the bag for any number of reasons. First, it would not do to inform the American public, happy in its ignorance, that world economic domination by the corporate oligarchy is the motive force of US foreign policy. It would just be too upsetting to realize that your children were being killed to line some CEOs' pockets. Second, and fundamentally more dangerous, it is not in the oligarchy's interest for the American people to understand how power works, that, for example, politics is the furtherance of business interests, and war, contrary to Clausewitz, is, too.

So, the people have to be fed pap, like "the axis of evil", WMD, "a war to end all wars", tyranny, freedom, blah, blah, blah to get them behind the program. Thank Leo Strauss and his epigones for that.

Now, the drums have been beating about Iran's purported nukular weapons program. In fact, the jury is out on whether any such program exists, as Iran successfully rolled up our spy network some time ago. We don't have a clue what's going on in-country.

But, the drums are beating anyhow, because we have to change that regime within the next year, or the petro-euro market will open. It's not at all clear that the American Empire would survive that development. Think about the runs on the banks during the depression. Then, think about that $3 trillion debt overhang, all those treasury notes in China's hands. Think about the high-level Chinese economist who told a Davos audience recently that China no longer considers the dollar to be a stable currency.

Up steps North Korea. "We've got the bomb, and we're fed up with your shilly-shallying negotiations. Come on, make my day!" Can the administration keep people focussed on Iran in the face of this kind of provocation? Has the Straussian noble lie strategy backfired? Will the benighted masses rise up, demand a reckoning with N. Korea and forget about Iran? Will the euro replace the dollar because the American oligarchy gets side-tracked, hoisted on its own petard?

Stay tuned for tomorrow's exciting instalment.

[xpat]

24. Shameless kick for a very important thread. n/t