Iranian oil bourse to trade oil in euros

[wli]

Googling for "Iranian oil bourse" (no quotes in textbox) turns up Iran's plan to trade for oil in euros. This is very similar to Saddam Hussein's plan to trade for oil in euros shortly before Cheney et al bombed him.

This may suggest another ulterior motive for Cheney to nuke or otherwise attack Iran.

[BlueEyedSon]

1. Here we go!

Trading oil in euros (by Saddam) was one of the reasons we had to conquer Iraq.

[kenny blankenship]

2. They're just asking for it now

maybe they have a death wish.

[applegrove]

3. This is the scariest thing I have seen in years.

[DELUSIONAL]

4. We all seem to have the same reaction

Does the bushie gang think we are THAT dumb that we'll forget that they are using the same damned script to find excuses to ATTACK Iran??

Oh forget it -- it doesn't matter what we think.

[muriel_volestrangler]

5. While it's believable that the new bourse would set prices in euros

has that actually been confirmed by any official source? The nearest I can find is an editorial in Dawn (Paikistan) saying the original announcement said it would be priced in euros - but I can't find that.

[wli]

7. I don't have any official sources, but truckloads of google hits

Click here for the google hits.

[muriel_volestrangler]

11. That's the point - the results that mention the euro are lots of blogs

and sites of similar quality (maybe they're right, but there's no way of knowing their reputation). The news reports just mention the bourse itself, without mentioning currency.

[wli]

13. hmm, the Guardian in Australia wasn't a blog

Nor Tehran Times.

Anyway, it's all really spooky.

[muriel_volestrangler]

14. The Guardian in Australia is the paper of

the Communist Party of Australia, and party newspapers aren't very reliable, in my view. The Tehran Times story dated 26th July 2005 that I see in the Google results doesn't mention the euro. William Clark seems to be the source for most of the talk - I can't tell if the 'petro-euro' is his personal opinion of what will happen, or if he has a solid basis.

[wli]

16. those 2 sources don't look so hot

On the other hand, "euro Iran oil bourse" turns up a lot of pages that seem to talk about it.

[FloridaPat]

9. It's several years down the road. They are doing the reasearch now.

I think they came up with the idea this year. It was very recent. Also, they are looking into having an Islamic stock market. I think they're tired of being the scrap goat for a bunch of idiots.

[wli]

10. odd, I saw in several places it was to open in late '05 or early '06

I could be wrong. About all I know are these articles I googled after a Russian friend of mine asked me if I knew about it and said something like this.

[FloridaPat]

12. I could be wrong too. My mind puts anything after this year

"down the road". I do know everyone is ready to go to the Euro, even Saudi Arabia. They would go tomarrow if it weren't for our military. They lost a bundle dealing in dollars. And unlike the average American, they know the dollar is in trouble.

[progressive_realist]

15. I've seen March 2006 as the projected start

Most recently here:
http://usa.mediamonitors.net/content/view/full/17450

But there are also claims that it is not moving forward as planned. For example, see this article:
http://www.iranmania.com/News/ArticleView/?NewsCode=31750&NewsKind=Business+%26+Economy

So this is definitely in the works, but I don't know if the original timeline is still valid or not.

Coming shortly before the bourse's scheduled opening, there are also projections that the nuclear reactor at Bushehr will be fueled before the end of 2005.

From http://www.globalsecurity.org/wmd/world/iran/bushehr.htm :

"On 22 August 2004 the head of Iran`s Atomic Energy Organization Asadollah Sabouri, said Bushehr will become operational in October 2006, a year behind schedule. The contract for the return of the spent fuel, has been finalized, and differences exist over the costs, the official said. According to Sabouri, the two countries have set the deadline for Russia`s delivery of nuclear fuel for the power plant to Iran at the end of 2005."

I would expect action against Iran yet this year.

[FrenchieCat]

6. Oh gee.....not the Euro! Not Iran!

Iran is in big big doo-doo.
We'll be calling their oil "freedom oil" soon,

[FloridaPat]

8. The oil in dollars program is protecting our government from

facing total economic collapse. I have a feeling that if or when that happends "depression" will not be the word for it. The higher the oil prices, the better for the national debt. It's more money coming in that can prop our debt up. Otherwise, there is no reason to own dollars and the dollar will collapse. Just imagine the dollar worth 5cents against the Euro. Against the Chinese whatever. Go to Walmart and pay $500 for a pair of jeans. We can thank the republican party for this situation and the way they've acted the last 25 years.

As for the Democrats - what does everyone think will happen if someone with a backbone came out and told the American public the truth? And how far will our government go to keep the economy going?