A relative short explanation why we are there, and why we will stay there no matter who you vote for in 2008: http://counterpunch.org/maass03302007.html
Also why Iran must be suppressed, the formation of an Iranian oil bourse would be serious competition for the dollar. http://www.energybulletin.net/12125.html edit: you know, that's probably why they want a nuclear weapon, they know what's coming and only a nuclear weapon will keep the US out. And they've apparently started it, inspite of delays: http://en.wikipedia.org/wiki/Iranian_Oil_Bourse#Timeline
I actually read an interesting article the other day that pointed out the currency that oil is sold in isnt nearly as important as the currency that the oil producing nations hold in their Fx reserves. Because the majority of the emerging world and oil producing countries currencies are pegged to the USD, it would be counter intuitive to weaken the dollar and thus their own currency. Ive been hearing about this Iranian Oil Burse forever now. I seriously doubt it going to seriously challenge NYMEX
Those are currentlythe same. But if you want to build a large Euro reserve, it is simpler just to sell in Euro, instead of selling in dollars and then changing it. I think the US warned Teheran in the backchannels, that if they dare to open the bourse, they will get bombed the next day. There was no other good explanation why they haven't opened it...Technical reasons, my ass...
What the US and UK should do: Blow to smitherines Iran's only oil refinery. "Woops, we just blew up your entire economy. Thanks for screwing with us. Care to come to the table and suck our collective anus? If you don't, we'll just blow up your next one. Please Register or Log in to view the hidden image!"
Smart man! Since Iran still exports 2.5 mbpd light crude, that would take that much out of the world supply and the price would immediatelly jump $10-15 per barrel. Any great ideas like that?
Dick Cheney is not going to blow up a golden goose so near the plucking. But Iran could always threaten the same: fuck with us, we'll blow up our refinery - you can try flying those fancy jets on biodeisel. Which would be the more serious threat?
