Author Topic: Iran %#&*^%$# at it Again! (Read 4675 times)

Jamie B · « **on:** February 19, 2012, 08:14:33 PM »

http://www.reuters.com/article/2012/02/19/us-iran-oil-europe-idUSTRE81I07W20120219

Iran stops oil sales to British and French firms
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Quote

Reuters) - Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state's lifeblood, oil.

"Exporting crude to British and French companies has been stopped ... we will sell our oil to new customers," spokesman Alireza Nikzad was quoted as saying by the Ministry of Petroleum website.

The European Union in January decided to stop importing crude from Iran from July 1 over its disputed nuclear program, which the West says is aimed at building bombs. Iran denies this.

Great! Now the oil futures will rise, as will the price of crude, as will our gas at the pumps....

red headed stranger · « **Reply #1 on:** February 19, 2012, 08:20:59 PM »

When goods don't cross borders . . .

grampster · « **Reply #2 on:** February 19, 2012, 09:07:52 PM »

Tell that to the overlords in the .fedgov.

wmenorr67 · « **Reply #3 on:** February 19, 2012, 09:53:19 PM »

Not a big issue. Saudi and the rest of OPEC has already stated they can and will supply what Iran was to make up the difference.

lupinus · « **Reply #4 on:** February 19, 2012, 10:02:03 PM »

Not much of an issue IMO. Other OPEC countries already' said they will pick up the slack. This isn't even an issue of getting online, they just routinely operate well below their max output to avoid flooding the market. All they need to do is follow through with picking up the slack.

All in all, I don't think this is anything more than a "You can't fire me, I quit!" thing. Same effect.

Perd Hapley · « **Reply #5 on:** February 19, 2012, 10:15:07 PM »

Frack 'em.

French G. · « **Reply #6 on:** February 20, 2012, 12:46:20 AM »

They've done this since 1979, who cares. I've seen a fair bit of their navy from rather close range. Let me know when the shells start flying.

RoadKingLarry · « **Reply #7 on:** February 20, 2012, 02:39:43 AM »

And Saudi cuts production.
http://m.cnbc.com/id/46445698

All is proceding according to plan.

De Selby · « **Reply #8 on:** February 20, 2012, 05:17:49 AM »

Does anyone dispute the right of Iran to choose where it sends its oil? Or is exercising property rights grounds for war?

Jamie B · « **Reply #9 on:** February 20, 2012, 05:22:23 AM »

Quote from: RoadKingLarry on February 20, 2012, 02:39:43 AM

And Saudi cuts production.
http://m.cnbc.com/id/46445698

All is proceding according to plan.

Exactly my point.
The Saudi's have always screwed us, in spite of showing us their 'we have your back' face.
That's what we get for helping in Kuwait....

Jamie B · « **Reply #10 on:** February 20, 2012, 05:28:27 AM »

Quote from: De Selby on February 20, 2012, 05:17:49 AM

Does anyone dispute the right of Iran to choose where it sends its oil? Or is exercising property rights grounds for war?

Wonderful observation. Maybe we can send them some enriched uranium to assist their nuke program.

De Selby · « **Reply #11 on:** February 20, 2012, 06:45:55 AM »

Quote from: Jamie B on February 20, 2012, 05:28:27 AM

Wonderful observation. Maybe we can send them some enriched uranium to assist their nuke program.

How is that related???

wmenorr67 · « **Reply #12 on:** February 20, 2012, 08:17:40 AM »

Quote from: RoadKingLarry on February 20, 2012, 02:39:43 AM

And Saudi cuts production.
http://m.cnbc.com/id/46445698

All is proceding according to plan.

That report was about what they did in December.

AmbulanceDriver · « **Reply #13 on:** February 20, 2012, 08:22:46 AM »

At first I was a little nervous, but then realized that it's basically just Iran shooting themselves in the foot. They're shown as throwing a temper tantrum, the rest of OPEC says, "meh" and boosts production to match what Iran is cutting off. And they (rest of OPEC) make more money in the process, as the "volatility" will drive oil prices up a bit.

HankB · « **Reply #14 on:** February 20, 2012, 08:41:44 AM »

Quote

Iran stops oil sales to British and French firms

Quote

The European Union in January decided to stop importing crude from Iran

So the mullahs are going to punish the Europeans by stopping the sale of crude to people who already decided to stop importing their crude? Is this just supposed to affect trans-shipment or something?

Also . . . where do the mullahs get their refined fuels? I remember reading an article that Iran's refining capacity is well short of satisfying domestic needs, but there was no mention of where they import refined products from. If it comes from some other Gulf state they may be OK for a while, but if it comes from the EU?

RoadKingLarry · « **Reply #15 on:** February 20, 2012, 08:45:41 AM »

Quote from: De Selby on February 20, 2012, 05:17:49 AM

Does anyone dispute the right of Iran to choose where it sends its oil? Or is exercising property rights grounds for war?

There are huge groups of people that consider the US the aggressor in the war with Japan. All we really did was cut off their oil supply (see rape of Nanking).

Jamie B · « **Reply #16 on:** February 20, 2012, 09:44:23 AM »

Quote from: De Selby on February 20, 2012, 06:45:55 AM

How is that related???

One good tort deserves another.....

Zardozimo Oprah Bannedalas · « **Reply #17 on:** February 20, 2012, 01:54:51 PM »

Quote from: HankB on February 20, 2012, 08:41:44 AM

So the mullahs are going to punish the Europeans by stopping the sale of crude to people who already decided to stop importing their crude? Is this just supposed to affect trans-shipment or something?

Yeah. Only Iran is stopping shipment a few months earlier than the EU had planned. Not a big deal, IMO.

Lee · « **Reply #18 on:** February 26, 2012, 11:59:02 AM »

So the mega oil companies get to increase margin on oil already paid for ...and probably give Iran a cut. Chaos means more debt for us and bigger profits for the 0.1%ers. Same ol crap.

Monkeyleg · « **Reply #19 on:** February 26, 2012, 03:42:33 PM »

Quote

So the mega oil companies get to increase margin on oil already paid for ...and probably give Iran a cut. Chaos means more debt for us and bigger profits for the 0.1%ers. Same ol crap.

I didn't know there were any OWS members here at APS.

If (and it's a big "if") oil companies increase profits on oil they already own when prices go up, then they likewise lose profits on oil they already own when prices go down. Oil company profits are absurdly low compared to other industries, though.

As for "give Iran a cut", why?

"Bigger profits for the .01%ers"? Please.

Perd Hapley · « **Reply #20 on:** February 26, 2012, 06:41:43 PM »

Quote from: Lee on February 26, 2012, 11:59:02 AM

So the mega oil companies get to increase margin on oil already paid for

Is that bad?

Monkeyleg · « **Reply #21 on:** February 26, 2012, 06:58:44 PM »

Of course it's bad. It's the rich getting richer on the backs of the proletariat. And it doesn't matter if the Saudi's are going to fill the void made by Iran. Everyone knows that the Saudi's are owned by the Bush family. And Halliburton, which is secretly owned by Cheney.

News:

Author Topic: Iran %#&*^%$# at it Again! (Read 4675 times)