Iran’s Oil Ministry says it has cut off Britain, and France
- Thread starter petros
- Start date
ABSOLUTELY! They are licking their chops over this. The bugles are already sounding off from gas station to gas station.
And they're not waiting for summer.
I had 3/4 of a tank and topped off this morning.
And we don't get a drop from Iran.
Looks like Russia wants to expand its exports.
http://carnegieendowment.org/files/russia_oil_exports.pdf
Canada ships oil to European countries (UK, France, etc.) and no ports are closed.
Like I said, I have no idea what you are arguing here.
Britain and France don't import oil from Iran. The gesture was symbolic. Iran has offered their client countries long term oil contracts. If they refuse to agree to Iran's conditions, then Iran will refuse to renew existing contracts.
Most likely, countries that really don't care about the US and Israel's dispute with Iran will stop buying Iranian oil with $US. Given the way the US is running up a debt, getting off the $US before it collapses might be a smart move. Certainly this is an opportunity for large stable economies to challenge the $US as the international currency. Iran's biggest clients are China, India and Japan While Japan is following the US's lead, they can't reduce their Iranian oil imports to 0. they seek an exemption. China and India could offer to buy Iranian oil with their own currencies.
Most likely, countries that really don't care about the US and Israel's dispute with Iran will stop buying Iranian oil with $US. Given the way the US is running up a debt, getting off the $US before it collapses might be a smart move. Certainly this is an opportunity for large stable economies to challenge the $US as the international currency. Iran's biggest clients are China, India and Japan While Japan is following the US's lead, they can't reduce their Iranian oil imports to 0. they seek an exemption. China and India could offer to buy Iranian oil with their own currencies.
We have oil ports that export to EU?
What do Britain and France do over the next three years while waiting for orders from Russia if they (Russia) wish to sell to UK/France to be filled?
Do you think you can just up and buy 18% of your supply like it were boxes of Cheerios?
From your link....
Petros is right. Canada has lots of oil, but no way of moving most of it to market. I am against building a pipeline to Katimat. Sending oil tankers down a long narrow fjord is asking for trouble. The focal point of Canada's energy exports should be Prince Rupert.
It used to be 1.5Mbbl/day how much did Iran sell to them? Besides Saudi said they could fill in all the shortages when it was first brought up that an embargo was coming. Since it was fully backed by France and GB I would thgink they would have thought to make sure they weren't hurting themselves.
Iran's move is mostly symbolic. France and GB don't buy oil from Iran... So this announcement affects no one. Now if Iran cut off Greece, that would have an impact.
Got a link cause this is in many reports and 20% would seem top be significant.
On Sunday, its oil ministry went a step further, announcing Iran has now stopped selling oil to France and Britain altogether - a powerful yet largely symbolic message since neither European nation relies on Iranian crude imports.
Iran halts oil sales to UK, France on eve of talks | Reuters
Since Greece has nothing to do with oil prices the rise should be over Iran.
(in part)
Oil prices have risen following expectations of an increase in the demand as eurozone finance ministers came to an agreement on a rescue package for Greece and the crisis in Iran intensified. According to the American Automobile Association, gasoline prices could rise as high as $4.25 by the end of May.
Oil Prices Rise, GOP Blames President: Will it Harm Obama's Re-election Prospects? - International Business Times
Since Iran is an exporter rather than an importer the sanctions just made her a whole lot of money, as well as all other oil exporters (like Saudi cause they will; be making up the difference for EU nations) but the ones who get hurt are the taxpayers of the Western Nations. The only thing that got accomplished is Iran sells more to the East and less to the West and OPEC gets a bonus round by upping it's exports.
Try taking your own advice if this is supposed to back up what you say.
"The 27-nation EU accounts for about 18 percent of Iran’s oil exports."
"The 27-nation EU accounts for about 18 percent of Iran’s oil exports."