"Renaissance Thinking About the Issues of Our Day"
Iran banning countries from buying its Oil will not shrink the Global Supply of Oil making it to market.
Iran is not going to sit there and point at a growing pile of unsold Oil that would otherwise have gone to a banned country and say “I don’t care how long it takes! that oil is going to sit there unsold until [ banned country ] apologizes!” (?!?!?!) I really don’t think so. If anything they may have to undercut the prevailing price to sell it to another country that is out of the fray. What will probably happen is that some other uninvolved country is going to buy Iran’s oil instead of buying it from another unbanned oil producing country. Actual users and sellers of oil will simply rearrange themselves. It’s Wall St speculators that will be causing the really big price increases.
The increase in prices at the pump reflect more the increasing likelihood of War with Iran (as interpreted by Wall St) and less the effects of Iran’s actions on the actual supply and demand for oil in the World market.
What the news is saying with all the “destabilize a fragile global economy” is the Washington / Wall Street / Big Oil / Congressional Military Complex seeing only war and ramping up accordingly. Wall Street will impound the expectation of worsening strife with Iran into their expectations used when speculating into the Commodities Markets. And the “Iran threat” (no matter how distorted the facts may be) will be repeated and repeated and repeated until BP or some other Oligarch gets Iran’s Oil, Military contractors get billion dollar contracts, Wall Street bids up the price of gas past $150 / bbl and Washington politicians get their pockets stuffed. The money power behind State Run Media is going to saturate the 99% with their thinking! These entities don’t care if the Nuclear threat is real, what matters is that the American People can be made to think its real using facts or if need be b.s.. And if the nuclear threat is proven to be another WMD snow job then the argument for war will switch to something else (equally as dire) and sold to the American People with equal vehemence.
Think about it. Why hasn’t Obama killed Imma-dinner-jacket or other more high ranking officials in the Iranian power base? One reason might be that Obama and gang NEED Imma-dinner-jacket to be there. Without him the “resource-grab-couched-as-a-threat” would lose steam. Another reason might be that if you kill Imma-dinner-jacket you introduce uncertainty into the Business operations of Oligarchs that might be operating in the area or otherwise have their own designs on wanting to operate in the area in the future.
America will go to War with Iran it is only a matter of time, and the People are going to pay a TREMENDOUS price – in a variety of ways – for our ethically and morally defunct politicians unnecessarily going down the war path. The People are simply not as well represented in our Government as monied special interests. Call it “strategic interest in the area” if you want but the fact remains that despite laws against it War is simply too profitable, and that makes it irresistible to country (like America) whose conduct and decisions is dominated by Big Money Corporate resources. War is more likely to temporarily interrupt the supply of Iranian oil to the world market.
The coming economic / military ordeal is going to be an excellent example of the rubber meeting the road with regard to why all the problems with our …democracy?...need to cease and desist immediately.
For starters you get Wall Street speculation and investment in hard assets the hell out of the Oil and Gas food chain. Use the NDAA’s indefinite detention provisions on republicans and democrats who won’t vote yes on the idea. Serve the interests of 99% this time around and not the 1%.
As an aside, Obama can break our addiction to oil by attacking our demand for oil – but he won’t. Just watch how weak the new MPG standards are that are coming out.
Comments
Yea, Iran's current bans to a couple countries shouldn't increase gas prices, but the coming war will AND....
Officially to start in July (but you'll be paying for a piece of it much sooner than that courtesy of speculators) America's own Foreign Exchange sanctions against Iran will put upward pressure on Gas Prices. BUT even then, note the following quote from the article:
“It is planning to offset some Iranian imports against India's corresponding exports via a rupee payments system to keep trade moving.”
Also, bear in mind this is BANKSTER IMPOSED HARDSHIP ON AMERICA:
“Still, sanctions are cutting off payments routes. India's refiners have used Turkey's state-controlled Halkbank for payments to Iran in euros since the middle of 2011, but are unsure how long that route will last given tougher EU sanctions. Turkey is seeking membership of the EU.”
It’s a prime example of circular profit making the higher the price of gas, the more profitable it is for Wall Street [Wall St is basically and Oil and Gas interest, see Antonia Julhza’s “The Tyranny of Oil”] to pursue more marginal gas production. THE BANKS THAT ARE WORKING TO CUT OFF PAYMENTS FOR THE SALE OF IRANIAN OIL ARE THEMSELVES COMPETING OIL AND GAS COMPANIES.
But hey! This is America, conflicts of interest at the expense of the 99% is what we are all about! After all what’s the worst that can happen? We successfully make Iran desperate enough for War or they throw Imma-Dinnerjacket out? If so, CHA-CHING$$ for the Oligarchs! Or maybe, the “energy independence” (not end addiction mind you) schtick is pulled out at $5.00 per gallon and the People finally cave in turning over all THEIR public lands to “high technology” oil production…when the underlying product is selling for $5 per gallon at the pump?! CHA-CHING$$ for the Oligarchs!
http://news.yahoo.com/exclusive-china-india-plan-iran-oil-cuts-10-144351557.html
Is there a conflct of interest inherent in America leading its economic assualt on Iran by targeting aspects of the International Banking system that facilitates payments for purchases of Iranian Oil?
Answer: YOU BETTER BELIEVE THERE IS! Amongst other things, Wall Street is basically an oil and gas company. Wall St Owns and Operates hard assets throughout the Oil and Gas industry - including refining, production, distribution, marketing, storage, wells, etc. and worse still it sets the price via its commodities speculation. They also, apparently, can determine who gets to play via their influence over America's ability to exclude payment facilities to select producers like Iran.
Which would lower prices at the pump more: War with Iran or combo of Wall St Regulation prohibiting speculation and nationalization of the US Oil industry?
Which would result in more Revenue to decrease the National Debt?
Finally, how much would prices go down at the pump and the National Debt decrease if the Oligarchs simply had our Government turn over the People’s Commons for pennies so they can destroy it further by fracking, tar sand oil and shale oil production? Answer: ZERO, both prices and debt would continue to increase while oligarch wealth concentration increased - all at the expense of the 99%
Should America enact a combo of Wall St Regulation to cease speculation and nationalize the Oil Industry even if Iran has Nuclear Weapons?
The bologna is just pouring out of Corporate media these days to cover Wall Street's predatory gouging of Gasoline. Here is a couple of examples.
1. Iran blocking the straight of Hormuz: It hasn't happened yet but we are already paying a growing portion of the premium closure would add if it were to close at some point in the future. Thanks Wall Street Commodities Speculators!
http://finance.yahoo.com/blogs/daily-ticker/looming-threat-gas-prices-strait-hormuz-explained-134550480.html
2. Watch Cost of Gas Jump 10 Cents During ABC's 'World News' Broadcast:
Gas stations need the revenue to buy replacement gas at a higher price – even though the War with Iran hasn’t started yet, banksters haven’t imposed their currency sanctions yet and the Straight of Hormuz is still open.
Thanks Wall Street Commodities Speculators!
http://news.yahoo.com/price-shock-watch-cost-gas-jump-10-cents-014014447--abc-news.html
No War with Iran is complete without a War on our own Wall Street's loose Regulation and participation as hard asset operators in the Fossil Fuel Industry
Will Gas and related Price Spike cause another round of foreclosures?