Iran's Euro Oil Stock Exchange Opens Next Week Tehran, April 26 - Oil Minister Kazem Vaziri Hamaneh said on Wednesday that the establishment of Oil Stock Exchange is in its final stage and the bourse will be launched in Iran in the next week. He told reporters, upon arrival from Qatar where he attended the 10th General Assembly of International Energy Agency and consultations with OPEC member states, that registration of the Oil Stock Exchange is underway and the entity will operate after being approved by by Council of Stock Exchange. He rejected a statement attributed to him saying that Oil Stock Exchange will bring to the ground the US economy and said, "I don't know who has speculated that I've not talked about US economy." Asked about conference on energy in Doha, he said that more than 60 countries and 30 oil companies and consultants took part in the conference. Vaziri Hamaneh said that serious discussions were held including security of supply and demand, security of investment in energy and environment issues. "The best method for security of demand in the oil sector is that consumers should be given opportunity to enter into partnership with the suppliers in investment in oil industry." He said that the conference called for diversifying energy resources and cooperation of the developed states with the countries possessing oil and gas resources. Asked about the oil price rise, Vaziri-Hamaneh said that oil price is being influenced by political situation, whereas it should be freed from political impacts and economic and technical fundamentals should determine the oil prices. "As long as political impacts dominate the oil market, price hike will continue," he concluded. http://www.iribnews.ir/Full_en.asp?news_id=212013&n=32
I went to your ref, and then to its "home page." I would not trust anything i found there, but it was quite interesting and seems to be up to the hour information. I will return to the site. I live in Brazil and we have very good, independent, newspapers here, but it will be nice to see the flip side of what is in the western press. There are many good newspapers in the US and Europe also - do not think I was implying otherwise, but there always is a natural bias, and sometimes even outrageous things happen in these papers also. - For example, shortly after 9/11 when the attackers were widely (and illogically) being called "cowards" by most of the press and all of the administration, a reporter was fired because he was so insensitive enough to state that flying airplanes into buildings was more a act of courage (dedication to a cause etc.) than coward ness. An English reporter also offended many, got himself "blacklisted" in the Western press and now works for Al Kazeria./ I forget his name, and have not spelled that Arabic world's most famous Broadcaster's name correctly, I am sure.
They can't as there are limits on production, oil deposits etc. but more importantly there is GWB, who will probably assure that Iranian oil now going to the west goes to China instead. BTW it will matter even if the oil continues to flow. the only reason governments and people hold dollars is that is currently the only currency that can be used to pay for many commodities, including oil. There is essentially nothing that the US can make and sell which others can not do as well and cheaper. Why would any one continue to hold dollars, if they can buy oil without them? What good will these pieces of green paper be in the world that is coming faster than the US can reduce it "twin deficits"? (Which at current oil prices and rising interest rates should easily exceed one trillion dollars in 2006.)
