Exclusive: China, India plan Iran oil cuts of 10 percent or more

The countries together buy about 45 percent of Iran's crude exports. The reductions are the first significant evidence of how much crude business Iran could lose in Asia this year as Washington tries to tighten a financial noose around Tehran.

ca.news.yahoo.com...

Appears nations are working together to make up for the future lost oil/revenues that will be lost due to future and current Irnian oil sanctions. Whether UN cuts off Iran or Iran cuts off Europe, the oil will need to be made up somewhere.

The Iranians sure know what they're doing by imposing their recent sanctions. They know that cutting off some oil will have repurcussions around the world. In ways I do not blame them as they're getting bullied by many countries, whether that bullying is legitimate is a topic for another thread.

I sincerely hope that America and the other nations you mentions can work out a deal to keep gasoline at a affordable price, it would really blow to see $5 a gallon.

reply to post by heyitsphil


I think they may have to figure something out. My thinking is that the more you start to affect people's pocketbook, the more they are going to want to know why. It would be a total crapshoot on how it works out for the governments. People could etiher become more aware of the world around them and learn why this is happening and see the government for what it is, or play right into the government's hands and blindly support whatever they decide to do as long as it gets them cheaper stuff.