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Er, dude, not sure how up to date your info is, but the EU banned Iranian oil (and oil products) from import or distribution in January of this year, with all contracts to be terminated by July...
Originally posted by stumason
reply to post by TheMaverick
You've misread your link. What the Iranians are saying is if they cut off their exports, the oil price will rise hurting consumers in the EU and US. However, the EU and US buy no Oil or Oil products from Iran themselves, it is merely the effect of the loss of Iranian crude to the market that he is going on about.
For example, you want apples. John sells apples and Bob sells apples, but via the Market. You don't want to buy Johns apples, so you buy Bobs. However, if John decided not to sell his apples on the market, supply would drop, driving up the price you pay, affecting you indirectly even though you didn't buy John's apples yourself.
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Originally posted by stumason
reply to post by LeatherNLace
While that is the usual mantra trotted out for Iraq, it doesn't bear out under scrutiny.
Of the 4 Oil fields that have had licenses issued, one is split between a Chinese and French firm, one to Shell (a Dutch firm) and Petronas (Malaysian), one to BP and the last one is split into phases, with a Russian firm having one slice and Exxon-Mobil/Shell having the rest.
So only one field has an American company running it and even then, in conjunction with the Dutch firm. All of the licenses involve paying a price of $1.40/barrel to the Iraqi Government. I cannot see where the Americans will get back any of the vast fortune they spent in Iraq via Oil.
If you want a conspiracy about Iraq, it's who won all the contracts to "rebuild" or supply the vast occupying Army. That's where the real money is.
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Nice name by the way, LeatherNlace...
Originally posted by babybunnies
In the end, so the story goes, he called Thatcher in the middle of the night to tell her "we've sent planes from bases in the UK to attack Libya, just thought you should know".
Originally posted by babybunnies
However, in the day of aircraft carriers and stealth bombers with flying distance of thousands of miles, why does the USA need to use european bases for an airstrike on Iran?
Originally posted by TheMaverick
I haven't misread, your reading from the link i provided which is forexpro, its talks about the global effect on the markets, very briefly, don't believe for a second europe hasn't been buying Iranian oil, of course they have, Iran priced there oil so cheap, europe would be fools to actually implement export sanctions, especially the british, who have no oil left, or gas.
Originally posted by TheMaverick
Thanks for your explanation you gave, no doubt you type it in crayon to emphasize the sarcastic post, just so you know, i do my research, i don't make this stuff up.
Originally posted by TheMaverick
Do you know how many times British Petroleum has been caught doing business with the iranians over the years while sanctions have been implemented, the oil mafia work under a different set of rules to the rest of us, and always get away with it.
Edit to add: Here's what happen to the european sanctions you were talking about way back at the start of the year.
Iran Sanction Bill Exempts BP Projectedit on 25-10-2012 by TheMaverick because: (no reason given)
Originally posted by stumason
Here is a link to a simple google search. In each, you will find references to the EU's banning of Iranian Oil imports, effective as of July this year. As of this moment, NO Iranian Oil is sold to ANY EU customer.
Referring to the banking sanctions, the oil embargo and to sanctions barring EU-based insurance companies from covering tankers carrying Iranian oil, Khosrojerdi said that the private consortiums had “completely neutralized sanctions on foreign exchange transactions, on insurance and on Western oil tankers.”