Iran stops oil sales to British and French firms

Iran stops oil sales to British and French firms

Strap on your day trader hats, all you commodity junkies, crude is about to hit the roof with this news. The summer is going to be a boondoggle for the white house. And, Obama will more than likely lose the presidency over this.

Tehran, Iran

TEHRAN (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.

Iran’s oil minister said on February 4 that the Islamic state would cut its oil exports to “some” European countries.

Iran Stops Oil Sales to Britain and France

The European Commission said last week that the bloc would not be short of oil if Iran stopped crude exports, as they have enough in stock to meet their needs for around 120 days.

Industry sources told Reuters on February 16 that Iran’s top oil buyers in Europe were making substantial cuts in supply months in advance of European Union sanctions, reducing flows to the continent in March by more than a third – or over 300,000 barrels daily.

France’s Total has already stopped buying Iran’s crude, which is subject to fresh EU embargoes. Market sources said Royal Dutch Shell has scaled back sharply. Shell had no comment on the announcement.

Among European nations, debt-ridden Greece is most exposed to Iranian oil disruption.

Motor Oil Hellas of Greece was thought to have cut out Iranian crude altogether and compatriot Hellenic Petroleum along with Spain’s Cepsa and Repsol were curbing imports from Iran.

Iran was supplying more than 700,000 barrels per day (bpd) to the EU plus Turkey in 2011, industry sources said.

By the start of this year imports had sunk to about 650,000 bpd as some customers cut back in anticipation of an EU ban.

President Mahmoud Admadinejad of Iran

Saudi Arabia says it is prepared to supply extra oil either by topping up existing term contracts or by making rare spot market sales. Iran has criticized Riyadh for the offer.

Iran said the cut will have no impact on its crude sales, warning that any sanctions on its oil will raise international crude prices.

Brent crude oil prices were up $1 a barrel to $118.35 shortly after Iran’s state media announced last week that Tehran had cut oil exports to six European states. The report was denied shortly afterwards by Iranian officials.

“We have our own customers … The replacements for these companies have been considered by Iran,” Nikzad said.

EU’s new sanctions includes a range of extra restrictions on Iran that went well beyond U.N. sanctions agreed last month and included a ban on dealing with Iranian banks and insurance companies and steps to prevent investment in Tehran’s lucrative oil and gas sector, including refining.

The mounting sanctions are aimed at putting financial pressure on the world’s fifth largest crude oil exporter, which has little refining capacity and has to import about 40 percent of its gasoline needs for its domestic consumption.

(Writing by Parisa Hafezi; Editing by David Cowell)

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I Am Not a Teabagger

A Message to Obama Worshipers

*sigh* I’ve said it before, but apparently, I was ignored.  I AM BLACK.  I VOTED FOR OBAMA.  However, I have a political science degree and can see quite easily what is going on in the country.

Blacks are approaching nearly 50% unemployment.  There has NOT been a pull from Iraq and Afghanistan.  We have lost millions upon millions of jobs.  The dollar has not only sunk to a new low, but is in danger of DEFAULTING EVEN MORE.  Yes, that’s right, WE’VE ALREADY DEFAULTED YEARS AGO.

If you have a college degree, even in liberal arts, you’ll easily be able to see that Obama has done everything in his power to staff his cabinet with wall street heavy hitters, not just the peons, but the heavy hitters.

I was also registered democrat.  But, with a modicum of homework, I quickly realized that the two parties are one and the same.  *GASP* oh shocking… oh my zeitgeist is come crashing down around my ears, democrats and republicans can’t be the same.  Oh, come on.  Really?  You can’t be in that much denial.

Anything Bush did, is long gone.  This is the 3rd year of this guy’s term of office.  He has signed into law, much legislation of his own.  Also, he was never forced to sign into law anything that was going on during the Bush term.  You do recall that Bush was a Republican and this guy is a Democrat. 

I don’t need to go into a brief history lesson of how Clinton did not sign into law anything that his Republican predecessor arranged.

Come on, you all are smarter than this.  There have been Black women, men, on this page, Latinos and others who are OBVIOUSLY not republicans.  We are all saying the same thing.  This president is not speaking for the people, he is speaking for wall street.  In fact, Bush wasn’t even Republican.  At the end the Republican party and congress fought him tooth and nail.  WHY? Because, he too, was a corporatist.  He ramped up the deficit higher than any democrat / republican preceding him.  This guy is doing the same exact thing.

Give up.  Take your licking and admit that you were duped.  Remember, Obama is POLITICIAN.  Who cares about his speaking abilities when china is raping us, jobs are flooding out of the country, food prices are skyrocketing and the darling of the Democratic party of issues, SOCIAL SECURITY, is the first thing on the chopping block.  What’s worse is he has committed unconstitutional crimes over and over and over.

The time for giving him a pass is way over.  Who cares that he’s half Black.  Who cares that he’s articulate.  Who cares that the country was bad under Bush.  I have a clue for you.  Bush wasn’t the cause of the housing bubble.  We Americans were the cause of the housing bubble.  Bush wasn’t the cause of this economic depression.  We were the cause of this economic depression.  Bush wasn’t the cause of jobs hemorrhaging out of the US.  We were the cause.

For all the blame that I, personally, laid at Bush’s feet, the reality was that he no more caused it, than I did.  In fact, the housing bubble started under Reagan, skyrocketed under Clinton and came to a halt under Bush. 

For all the bleeding and weeping we have for these people losing their homes, at the end of the day, it is their own greed that got them into it.  Do you think for a second that someone purchasing a $30,000 home EVER got into trouble?  Do you think someone that paid CASH for their home, [ oh an yes 30% of homes are STILL paid for in cash, like everyone did in the 30’s 40’s and 50’s ] got into trouble?

Obama is not special.  He doesn’t deserve your worship.  He deserves your scrutiny.  And, do NOT rely on the news to do your thinking for you.

I offer you an olive branch.  Without you, the country cannot be healed.  If the millions of Obama worshipers do not quickly wise up, we are going to be plunged into the worst nightmare, even this current session could not hold a match to.  Please, just stop the Obama worship and think for a second about what is going on.  The wars, the money, the budget, the drop in the dollar, the wall street CONTINUOUS bailouts, the food inflation, the energy inflation, the middle class slipping into poverty, the staggering job loss.

There is an alternative, to this two party monopoly.

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"When Iraq Declared They Would Trade Oil in Euros We Invaded"

The Real Reason We Went to War in Iraq.

President Bush said, repeatedly, that Iraq was a real threat to America. We were told that Iraq had “Weapons of Mass-Destruction” and that Iraq had close — if not direct — ties to Al-Qaeda. And, we were also told that Al-Qaeda was responsible for 9-11. Let me make this perfectly clear [I’ve read countless intelligence documents proving it] the previous sentence is totally and completely false. There were no weapons of mass destruction in Iraq. Iraq not only did not have ties to Al-Qaeda, but they personally put them to death if they caught them inside of their country. And, finally, Al-Qaeda and Osama Bin Ladin had nothing to do with 9-11. When we tried to enlist the help of other nations the rest of the world was not very interested.

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In fact right before the invasion Hans Blix, chief weapons inspector for the international weapons inspector team, went around the media circuit and said there were no weapons of mass destruction in Saddam’s Iraq. Blix famously opposed the war that followed, calling it illegal. He maintains that, given a few more months to complete inspections, he could h ave convinced the intelligence community that there were no WMDs in Iraq. In one meeting with the Bush administration, Blix remembers Paul Wolfowitz, a Pentagon deputy under then-Secretary Donald Rumsfeld, asking,

“but don’t you believe there are weapons of mass destruction?”

“If I did, I would have put it in a report,”

Blix said he answered.

So at the outset we were left alone. International pressure led the president to seek the aid of foreign allies. I believe, and this is my opinion, he was threatened with world war if he did not, and what I am about to show will show you why.

Only Britain, Italy, Australia, and Japan ended up responding and staying for any duration. However our international friends don’t have the same financial setup that we have. Nor can they willy nilly declare [oh sorry war was never and has never been declared by congress] war on another country since it is exceedingly expensive. Most other countries have to seek diplomatic means to settle disputes otherwise they would run the risk of running their country out of existence.

I for one never believed there were WMD’s in Iraq. I watched the news carefully and I saw Hans Blix appear many times. The man even wrote a book, Disarming Iraq, wherein he states there were no WMD’s. You would have to be brain dead to call yourself the leader of the free world, have a meeting with Hans Blix and then say you think there are WMD’s. Or are you?…Follow the money and follow me here for a second. Yes I’m speaking down to you right now, because I have no idea who might be reading this and I want everyone who reads this to understand “beyond a shadow of a doubt”. How is the U.S. so powerful internationally. The answer lies the in the U.S. Dollar.

Petrodollar

The Dollar is the de facto world reserve currency, accounting for two thirds of all official exchange reserves. More than four-fifths of all foreign exchange transactions and half of all world exports are denominated in Dollars. In addition, all IMF loans are denominated in Dollars. With so much of the denomination in circulation world wide, the more the rest of the world has had to provide the U.S. with goods and services in exchange for these dollars. Under the guidance of the federal reserve, the U.S. prints the dollar at next to nothing to produce, so the fact that the world uses the currency in this way means that the U.S. is importing vast quantities of goods and services virtually for free.

By the sheer amount of imports that we receive at the expense of the dollar, which is free remember, we are getting goods and services virtually for free. We are running an import to export ratio at nearly 50%. Any other country on the planet would go under with such a staggering trade deficit, but we are sitting pretty with the dollar in vast circulation globally and nearly all transactions being performed in the dollar.

BUT WAIT…Along came the Euro. Not to be outdone by this upstart new colony, the Europeans introduced the Euro as a counter measure to the dollar as the reserve currency. The Euro then becomes the de facto reserve currency of Europe by design. Everyone that signed the agreement, was implicitly agreeing to use the Euro as the reserve currency. As such all who signed the agreement wanted to get something for nothing, just as the U.S. has been doing for decades. Now, if all of a sudden the world switched to the Euro the U.S. would… *gasp* have to actually pay for their imports and our currency would have to be fixed. Our imports would actually start costing us real money instead of the fake stuff we’ve been shipping out. If that were to occur, the Federal Reserve Bank, a privately held company, would not be able to cause the department of treasury to print money at will. They could not float the national debt continuously.

Also, foreign holders of the dollar would be getting out of the dollar even more so due to inflation. There is one bright shining moment where this disastrous case would not take effect. OPEC sells all oil, those that agree, in dollars. The Euro then couldn’t become the big reserve currency since all industrialized nations have to either produce or buy oil to function. If OPEC decided to change this policy however, that would be the single most effective way to eliminate the U.S. international power. Virtually over night, the U.S. induced power cord would fizzle out. If OPEC were to switch to the Euro, per say, the economic boon for them would be quite hefty. All oil trading countries would have to switch to the Euro. Since these countries would be buying the Euro, since anyone who is anyone needs oil and if the currency is in Euro you gotta have that Euro, the strength of the Euro would go up and OPEC would make mega profits. But, the same is true if they switched back to the dollar or the English pound, then that currency would go up and OPEC again would make hefty huge profits in that currency.

Why did I go into so much detail about the Euro?Why did I go into so much detail about the economics of OPEC? Where’s the story?

The Invasion of Iraq

Here are the facts as we know them. Notice I set you up to make the right decision, by telling you first hand that Hans Blix unequivocally said there were no WMD’s and denounced Bush for going to war under that pretext.

On to the facts.

1. on November 2000, Iraq stopped accepting U.S. dollars for their oil.
2. Saddam Hussein switched the currency required to purchase Iraqi oil to the Euro.
3. Selling oil through the U.N. Oil for Food Program, Iraq converted all of its U.S. dollars in its U.N. account to the Euro.
4.remember i said Iraq doesn’t support Al Qaeda, nor did Al Qaeda have anything to do with 9-11

Let’s go over the facts as we know them, here.

  1. for the first time in history [regardless of our world class intelligence] there was a crisis in our homeland, on U.S. soil
  2. it was declared a terrorist act
  3. these terrorist were declared to be needed to be taken revenge against
  4. The Axis of Evil was declared. [notice this was declared after 9/11]
  5. Shockingly, on the top of the list was Iraq, of course.
  6. Two months afterwards the United States invaded Iraq,
  7. mysteriously the Oil for Food Program was ended
  8. the country’s accounts were switched back to dollars,
  9. oil began to be sold once again for U.S. dollars. No longer could the world buy oil from Iraq with the Euro.
  10. the dollar is immediately restored as the oil trade currency, to the tune of a 17% loss to the country of Iraq.

If you consider these facts to be coincidental, then you my friend are a product of our fine governmentally funded public education system.

But Wait… On the horizon is Iran, the number 2 spot on the axis of evil. Iran has openly declared they would be switching to the Euro. In fact they have created a stock exchange for oil which the world can purchase any oil through their exchange, with Euros. Of course, here comes the media calling the president of Iran all sorts of demons and devils. Oh, did I forget to mention, he too has weapons of mass destruction and is a threat to the region, which we must go and squelch. What is amazing, is that people would fall for this hogwash, don’t pay attention to the news, and that they forget Israel could beat any country over there with their hands tied behind their back. [ As a side note it is interesting the news always brings up that the president of Iran, Mahmoud Ahmadinejad, is always quoted in the news as hating Jews and quoting him as saying Israel is a cesspool or some sort. Yet, there is a large Jewish community in Iran. The president met with orthodox Jewish rabbis and have had discussions with them. Could the media be playing into the White House hands to demonize President Ahmadinejad?]

But, our presidents, cook up some stinky scheme and say we have to go over there and get

  1. over 4,000 of our men and women slaughtered for economic greed of the U.S.
  2. over 10,000 injured or permanently impaired for life over U.S. banking filth

Then the president and the media has the audacity to trump up troop support? The president has the audacity to call people unpatriotic for saying they are against a war. The war was, is, and still is unconstitutional to begin with. So, who exactly is unpatriotic? Isn’t the president, who is in violation of the constitution the most unpatriotic person in the nation? Please tell me you knew there was something fishy about this war. Please tell me you were of average intelligence, but just couldn’t put your finger on it. I’ve read CIA reports, FBI reports all stating that Osama Bin Ladin had nothing to do with 9-11, his organization Al Qaeda had nothing to do with 9-11, nor have they even implicated him as being wanted on charges relating to 9-11. I ask you, if the CIA does not even want the guy for questioning on 9-11, isn’t there something fishy going on? Wait, bear with me. The CIA does not want to question Osama bin Ladin for anything relating to any terroristic acts committed on U.S. soil, nor his organization.

I hope people reading this are not brain dead and understand. These are facts. These are not my opinion. These are not, “i heard from a friend of a friend”. These are documented reports and the CIA’s international most wanted list itself. Go research it yourself. People feel they have to prove 9-11 was a hoax. There’s the proof right there. The CIA is not looking for anyone in relation to 9-11. Trust me when I say, the CIA knows nearly everything that is going on on the planet. Do you think for a second, if anyone knew, I guarantee, the CIA knew it first.“When Iraq declared they would trade oil in Euros we invaded”

I found this gem of a video, for those who are visually motivated.

So we did not go to Iraq for oil. Have you seen the price of oil? That should clue you in, it had nothing to do with oil. We went to Iraq to sustain the almighty dollar. Of course the Federal Reserve required it. Of course Wall Street required it. Of course Congress, with their outrageous deficits, required it. Bush delivered Iraq on a silver platter. And idiots are over there dying, thinking they are defending something. If I could smack some sense into every U.S. soldier over there, I would. They blindly follow orders and commit atrocities, in the name of what? No one is free over there. No one is living in harmony over there. We have committed more genocide than Saddam was ever accused of. The media has completely shut down over there. They now get their news from the army news agents, i.e. propaganda agents. U.S. billion dollar contractors are raking in the dough. We’re gonna piss one too many countries off and world war III will be upon us. And, we’ll all stand dumbfounded wondering what happened.

Notice Iran now trades oil in Euros. Wonder why we haven’t invaded? We pick on little kids, not big kids. We leave the big kids alone. I am pretty sure Iran has nuclear capability. Wonder why we haven’t invaded? And, in case you did not know, we have had a relationship with Iran for … ever. Same thing with Iraq. In fact we put Saddam in power.

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