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Iran Acknowledges Opening of Oil Bourse Next Week

The US media refuses to acknowledge that Iran plans on opening it's Oil exchange up in EUROS beginning next week. The sanctions being placed on Iran through the UN will outlaw countries from using this market, thus keeping the US' stranglehold on the oil markets who have traded solely in the US dollar up until now. US would lose $1 Trillion a year if this market is opened.
from IRIB Persian News:

"Iran's oil stock exchange, 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.

Please take a moment and forward this to your friends and local media.

My interview with Krassimir Petrov, of the American University in Bulgaria, covering this topic, can be found here:
 link to www.radio4all.net


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The Future Does Not Look Bright 01.May.2006 04:35

Eric Blair

Initially, the opening of Iran's Petro-euro bourse will have a more symbolic than actual effect on the U.S. dollar as the world's reserve currency. But, those nations buying Iranian petrochemical products will have to convert some of their dollar reserves to euros in order to purchase them. What the U.S. policy makers fear is the potential for a snow ball effect by which more oil producing countries, particularly Venezuela, Nigeria, and Russia, will eventually opt into the euro mechanism for the sale of their petrochemical product, as well. Such a possibility will, then, put enormous pressure on the dollar and an even greater inflationary effect will kick in.

This is what the Bush regime fears the most about Iran. Its potential nuclear threat is a straw man. The flip side of this equation is that a devalued dollar will make American goods and services more competitive on the world market. So, U.S. multi-national corporations will do better abroad, while the American population will sink deeper and deeper into poverty. If $3.00/gallon gas scares you now, try to imagine what life will be like for Joe six-pack when he has to pay $6.00/gallon to run his gas guzzler. If anything is going to rouse to action the great sleeping and distracted mass of Americans, it's going to come on four wheels that can't move for lack of affordable fuel.