391 posts tagged with oil.
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Dumping the SUV guilt!

The jolly green Hummer? The growing band of environmental offset companies which give you the chance to offload your SUV driving, energy squandering guilt onto an annual subscription and a fancy bumper sticker looks like one way that we'll be able to live with ourselves in the power hungry 21st century. Is this the placebo we've all been waiting for?
posted by Duug on Jan 13, 2006 - 20 comments

Fables of the reconstruction.

Fables of the reconstruction. The Bush administration does not intend to seek any further funding for Iraqi reconstruction, leaving only $3.5 billion left to spend out of the $18.4 billion the US budgeted. Approximately half of all reconstruction costs spent so far -- $7.5 billion -- have been eaten up by increased costs due to the insurgency. All remaining reconstruction costs will depend entirely upon foriegn contributions and Iraq's oil industry. But will foriegn aid come through if its too dangerous to work there? Can Iraq's oil industry pay for reconstruction when its output has been in a tailspin for well over a year, falling from 2.8 million barrels a day in May 2004, to 1.82 million barrels per day in January 2005, to 1.2 million barrels a day by November. and ending the year with a low of 1.1 million barrels a day in December? As for the Iraqi infrastructure left to be rebuilt, water and sanitation is still poor in most areas, and electricity production, which looked promising last summer after imports from Iran and Turkey, has deteriorated again, falling to only 3700 megawatts in November 2005, essentially at the same level produced in May 2004.
posted by insomnia_lj on Jan 2, 2006 - 26 comments

Blood Flows With Oil in Poor Nigerian Villages

Blood Flows With Oil in Poor Nigerian Villages An insightful NYT article on "the desperate struggle of impoverished communities to reap crumbs from the lavish banquet the oil boom has laid in this oil-rich yet grindingly poor corner of the globe" Ok, so the quotes a little heavy handed but the pic on the 2nd page speaks volumes.
posted by Mr Bluesky on Jan 1, 2006 - 24 comments

Billionaires

"Richard Rainwater made billions by knowing how to profit from a crisis. Now he foresees the biggest one yet". Rainwater discovers peak oil and wants to profit from it. Among other things, "he's thinking about opening a for-profit survivability center". Admittedly, his peak oil obsession goes beyond profiting:
But there may be something more important than making money. This is the first scenario I've seen where I question the survivability of mankind. I don't want the world to wake up one day and say, 'How come some doofus billionaire in Texas made all this money by being aware of this, and why didn't someone tell us?'

posted by samelborp on Dec 13, 2005 - 20 comments

British Oil Depot Fire

Huge explosion rocks UK countryside. Police say the oil depot explosion appears to be an accident, even though Al-Qaeda called for attacks on the oil industry just a few days ago. (As usual, the media feels the need to report this, even though Al-Qaeda was speaking of Gulf oil targets, and nothing of this scale could have been implented in just a few days)
Some pictures: 1, 2, 3, 4, 5, 6
posted by empath on Dec 11, 2005 - 64 comments

Goddamn socialists

Cheap oil for the masses. "Officials from Venezuela and Massachusetts have signed a deal providing cheap heating oil to low-income homes in the US state. The fuel will be sold at some 40% below market prices to thousands of homes over the winter months. Local congressman William Delahunt described the deal as "an expression of humanitarianism at its very best". [Newsfilter] Why do you hate America, Hugo?
posted by wilful on Nov 22, 2005 - 135 comments

Is the West robbing the Iraqi people?

Crude Designs: The Rip-Off of Iraq’s Oil Wealth Detailed argument from the Global Policy Foundation, et al, that the use of Production Sharing Agreements - "quite common in countries with small oil reserves and/or high extraction costs" - is inappropriate for Iraq and effectively robs the Iraqi people by ignoring other, more equitable options.
posted by mediareport on Nov 22, 2005 - 22 comments

Peak Oil conference

ASPO-USA Denver Conference Report. Views on Peak Oil from a wide range of panelists in Colorado this week, including the mayor of Denver "who has joined that brave but small band of honest and courageous politicians willing to go anywhere near the issue of peak oil".
posted by stbalbach on Nov 12, 2005 - 16 comments

ChevronToxico

From 1964 to 1992, Texaco (.mov, 20.6MB) drilled for oil in the northern region of the Ecuadorian Amazon, known as the "Oriente". The company left 627 open toxic waste pits and other facilities which continue to leak highly toxic waste, affecting more than 30,000 local people. A higher incidence of birth defects, cancer, miscarriages, skin diseases, and death continues to plague people whose only source of water is a contaminated river. ChevronTexaco refuses to remediate the damage, claiming that they already "cleaned up" their share of the contract, by shoveling 3 feet of dirt over some of the open oil pits.
posted by mayfly wake on Nov 12, 2005 - 15 comments

Boundless energy or bad math?

Boundless energy or bad math? Randell Mills thinks he has the solution to our energy problems. In his company's patented process, "energy is released as the electrons of atomic hydrogen are induced to undergo transitions to lower energy levels producing plasma, light, and novel hydrogen compounds." It also implies that quantum mechanics is wrong.
posted by Espoo2 on Nov 5, 2005 - 73 comments

Senate votes to begin drilling Alaskan oil

By a 52-47 vote on S.1932 §401, the US Senate today directed the Department of the Interior to begin selling oil leases within four years in the Arctic National Wildlife Refuge (ANWR), with the goal of raising $2.4 billion to lower the deficit and, tangentially, help pay for the aftermath of Hurricane Katrina. Oil would not be available for another ten years, and according to a 2003 DOE report, opening the Alaska refuge to drilling would only reduce U.S. dependence on imported crude oil in 2025 from 70 percent to 66 percent. The House of Representatives decides next week on whether to keep the drilling measure in the bill.
posted by Rothko on Nov 4, 2005 - 56 comments

A Short Guide to Iraq

How things do change! A short Guide to Iraq published in 1942 by the US government. The handbook was written for American soldiers who were stationed in Iraq to prevent Nazis from seizing the country’s oil. .... 63 years later.
posted by threehundredandsixty on Oct 27, 2005 - 30 comments

Peak Oil movie

Syriana is a new "peak oil" movie (following in the tradition of The Deal and Oil Storm). However unlike those movies it is a big budget Warner Brothers film, starring George Clooney. But perhaps even more interesting is the production company behind it called Participant Productions whose goal is to create films not just for passive entertainment but that inspire viewers to get involved in the issues.via The Oil Drum
posted by stbalbach on Oct 11, 2005 - 15 comments

Apocalypse, Schmapocalypse

Global warming -- the upside: the entrepreneurs poised to make millions from new ports and shipping lanes in the formerly ice-bound Arctic circle. A fascinating New York Times article on the international land-grab following the news (reported here, discussed here, whitewashed here, et. al.) that the polar ice caps and Siberian permafrost are melting. Goodbye Gulf Stream, hello Club Med Santa-style -- first SUV to the North Pole wins!
posted by digaman on Oct 10, 2005 - 53 comments

Oil Prices, Giffen Goods, and the American Landscape

Running on Fumes -- a fascinating essay by the Nation's Sasha Abramsky on what rising gas prices will do to poor exurban communities.
posted by digaman on Oct 4, 2005 - 165 comments

Migrating Birds and Oil Platforms

Interactions between migrating birds and offshore oil and gas platforms in the northern Gulf of Mexico (PDF, 5.9MB). A scientific but engrossing look at bird migration over the Gulf of Mexico, describing, in part, death by starvation of migrants who have metabolized all their bodily fat, “overshoots” that inadvertently travel past their intended destinations and find themselves unexpectedly over water at first light, and a suggestion that peregrine falcons not only recovered from near extinction due to the presence of oil platforms in the Gulf, but that they may eventually establish a breeding population on the Gulf platform archipelago. Summary. Full report (PDF, 5.9 MB).
posted by Mo Nickels on Sep 22, 2005 - 9 comments

More trouble from Rita?

Oh my. This could get very ugly.
posted by guidonDeBascogne on Sep 21, 2005 - 179 comments

Petrol prices hurting your wallet? Try stealing it instead!

Petrol prices hurting your wallet? Try stealing it instead! A Sydney man has been accused of siphoning 1,000 litres (265 gallons) of fuel from a service station into a large home-made tank in his van. Police allege the 36-year-old man used a Toyota Town Ace van to take petrol from a service station's underground tanks. Another 44,000 litres of fuel (or there about) is yet to be accounted for though.
Police allegedly found fittings and equipment inside the van that could be used to steal petrol from service stations, including a home made tank.
Hard times huh? Sorry there's no photo to go with this. The guy's van is an awesome sight though. Best I've got is streaming video via ABC News (Windows HQ or LQ).
posted by sjvilla79 on Sep 19, 2005 - 25 comments

Look the other way

What has happened to Iraq's missing $1bn? "The money missing from all ministries under the interim Iraqi government appointed by the US in June 2004 may turn out to be close[r] to $2bn... Many Iraqi soldiers and police have died because they were not properly equipped. In Baghdad they often ride in civilian pick-up trucks vulnerable to gunfire, rocket- propelled grenades or roadside bombs. For months even men defusing bombs had no protection against blasts because they worked without bullet-proof vests. These were often promised but never turned up."
posted by Rothko on Sep 18, 2005 - 20 comments

PEAK GARBAGE!

Your Mr. Fusion is ready. Sort of.
posted by loquacious on Sep 14, 2005 - 13 comments

Got Gas?

Oil companies, not environmentalists behind refinery shortages. The Foundation for Taxpayer and Consumer Rights (FTCR) today exposed internal oil company memos that show how the industry intentionally reduced domestic refining capacity to drive up profits. Internal memos from Mobil, Chevron, and Texaco show different ways the oil giants closed down refining capacity and drove independent refiners out of business. In related news, petroleum industry analyst Tim Hamilton showed that from January 17th to April 18th 2005 gasoline prices jumped 65 cents per gallon and refiner profits rose [pdf] by 61 cents per gallon.
posted by dejah420 on Sep 7, 2005 - 80 comments

I can't afford my gasoline.

I can't afford my gasoline.
posted by Guerilla on Sep 7, 2005 - 63 comments

No war for oil?

Turns out that it's about the oil, after all. We've been screaming it for years, and he's totally ignored our allegations. But, there's no demonstration chant a good spin-doctor can't turn into a point for their side. Remember, the terrists hate our Amercun freedom petroleum.
posted by Netzapper on Sep 2, 2005 - 55 comments

What will we do when oil crashes?

Resource wars and gas rations, what will be next ? I bet you didn't know we gobble oil like two-legged SUV's.
posted by graytopia on Aug 31, 2005 - 20 comments

Oil-vey!

Gas at $4 a gallon? A quick summary of the current reasons gas remains high ("Not I!" squawks the refiners, "Not I!" squawks producers). The EPA is easing restrictions in affected areas and the national oil keg is being tapped (WSJ), yet despite the whole doom-and-gloom scenerios the Economist remains perky about the cause of rising prices, "higher oil prices [now] reflect strong demand, ... they are the product of healthy global growth."
posted by geoff. on Aug 31, 2005 - 122 comments

Katrina targets New Orleans.

Katrina targets New Orleans. Mandatory evacuations have been declared, and contraflow evacuation routes are in effect near New Orleans, as Hurricane Katrina, a very wet, drenching hurricane, approaches the city from the Gulf of Mexico, where it is gaining in size and strength, with an estimated 45% chance of making landfall as a category 4 or 5 hurricane. The computer models suggest that New Orleans will sustain a direct hit from Katrina, which could be "The Big One" warned about by experts, capable of flooding the city, polluting it with industrial waste, and even flooding the pump stations, leaving it incapable of pumping out the water. The hurricane is predicted to make landfall early Monday near Port Fourchon, which handles approximately 13% of U.S. oil imports, and 27% of U.S. domestic production.
posted by insomnia_lj on Aug 27, 2005 - 272 comments

A crash course in Venezuelan history

Hugo Chávez is crazy! Hugo Chávez is certainly making a lot of news these days. No doubt we'll find the truth somewhere between "evil dictator" and "third world savior," but the long, dark history of U.S. involvement in Latin America casts suspicion on everything. Chávez is gaining a heroic light in the third world for "standing up to" the United States. He's making friends with Cuba, China and Iran. Is Chávez heading up a new rogues' gallery ... or gearing up for the resource wars?
Previous MetaFilter coverage: [1,2,3,4]
posted by jefgodesky on Aug 24, 2005 - 62 comments

Power Cut Shuts Down Iraq Oil Exports

Power Cut Shuts Down Iraq Oil Exports ASRA, Iraq (AP) -- Iraq's oil exports were shut down Monday by a power cut that darkened parts of central and southern Iraq, including the country's only functioning oil export terminals, Iraqi and foreign oil officials said.
posted by celerystick on Aug 22, 2005 - 21 comments

She went down to the crossroads.

A Maoist take on Cindy Sheehan. To quote the Revolutionary Worker quoting Ms. Sheehan: "I want him (Bush) to tell me 'just what was the noble cause Casey died for'?", she declared. "Was it freedom and democracy? Bullshit! He died for oil. He died to make your friends richer. He died to expand American imperialism in the Middle East. "We're not freer here, thanks to your PATRIOT ACT. Iraq is not free. You get America out of Iraq and Israel out of Palestine and you'll stop the terrorism! There, I used the 'I' word--imperialism, and now I'm going to use another 'I' word -- impeachment--because we cannot have these people pardoned. They need to be tried on war crimes and go to jail." (Meanwhile, on the spot, Bush's neighbor is becoming irate; more on that via Yahoo News.)
posted by davy on Aug 15, 2005 - 69 comments

"Can't you hear me knocking..."

US energy bill is held up by a pro-MTBE provision that bipartisan Senators promised they would not sign into law. Nervous MTBE manufacturers, in an effort to divest themselves of potential asbestos-like liability lawsuits, have been donating millions in campaign contributions to the cause, despite peer-reviewed research pointing to lingering questions about safety (PDF) and utility (PDF).
posted by Rothko on Jul 15, 2005 - 12 comments

Oil Exploration - It's listing 20-30 degrees with the topsides almost in the water.

Oil Exploration For over 75 years the oil industry has been searching... from the icepack of fitzwilliam strait to the Tarmin Basin in China, fighting storms in the North Sea, ice, mud & forest. Using powerful computers to find new reserves ready for that billion dollar oil rig to start drilling and pumping.
posted by Lanark on Jul 14, 2005 - 9 comments

are we doing enough to protect the unborn?

are we doing enough to protect the unborn?
where are the demonstrations at the gates of petro-chemical companies?
posted by specialk420 on Jul 14, 2005 - 34 comments

Peak oil is fun for everyone!

Even as oil prices hit record highs, the Saudi’s are now warning that they do not have the oil supply to keep up with future demand. With news like this it’s time to start taking peak oil seriously. Matthew R. Simmons, a former bush advisor, recently wrote a book that examines the future prospects of Saudi oil reserves and the implications for global oil production. He finds that the amount of oil left in the big fields may be much lower than is publicly reported and that there is no where else in the world where we can find the oil to make up for the shortfall. This interview with Simmons (part 2, part 3) was one of the scariest things I’ve read in awhile. I guess it’s time to buy a hybrid… (Peak oil previously talked about here and here and here)
posted by afu on Jul 7, 2005 - 70 comments

Exxon: Global warming? Rubbish!

Openly and unapologetically, the world's No. 1 oil company disputes the notion that fossil fuels are the main cause of global warming. Exxon opposes the very idea of capping global-warming emissions - From the article Exxon Chief Makes A Cold Calculation On Global Warming. A interesting read, whatever your opinion on the oil industry is...
posted by SharQ on Jul 4, 2005 - 30 comments

A stranger among you that says 'eh'

Canada ambassador to the U.S. mobilizes ex-patriots in order to fight the F.U.D. coming from Fox News. But will the only thing paid attention to be the very, very large Canadian oil reserves?
posted by Kickstart70 on Jul 2, 2005 - 45 comments

Return of the Great Game

The BTC Pipeline opened today after more than 10 years and $4B (US) in development. It runs from the Caspian Sea across Azerbaijan, Georgia, and Turkey, through the Caucasus mountain range to the Mediterranean. The project is so large and far-reaching some have called it Pipelineistan. The UK Independent calls it The Pipeline That Will Change The World. It travels through some of the most politically unstable regions in Central Asia, but is of such strategic importance political leaders have been replaced and the U.S. is willing to risk the wrath of neighbors Russia (with a competing pipeline of its own) and Iran to place permanent U.S. military bases along its path. It even merits personal visits from the U.S. Energy Secretary and President. Its opening may very well mark the return of the Great Game.
posted by fubar on May 25, 2005 - 22 comments

Mr Galloway goes to Washington

In response to allegations of kickbacks, George Galloway gets to tell the American Senate just what he thinks. Skip the article and watch the film. Your 50 minutes of fun video footage are here. [realMedia] (That'll be fun in a "Controversial British MP vs American NeoCon Senator" sort of way)
posted by seanyboy on May 17, 2005 - 244 comments

the broken glass beneath your feet

15 of 19 were Saudis. And now, continuing a trend from the Kingdom, most of the suicide bombers in Iraq are known to be Saudi Arabian.
posted by Mean Mr. Bucket on May 17, 2005 - 42 comments

US 'backed illegal Iraqi oil deals'

US 'backed illegal Iraqi oil deals' The United States administration turned a blind eye to extensive sanctions-busting in the prewar sale of Iraqi oil, according to a new Senate investigation. A report released last night by Democratic staff on a Senate investigations committee presents documentary evidence that the Bush administration was made aware of illegal oil sales and kickbacks paid to the Saddam Hussein regime but did nothing to stop them. The scale of the shipments involved dwarfs those previously alleged by the Senate committee against UN staff and European politicians like the British MP, George Galloway, and the former French minister, Charles Pasqua.
posted by Postroad on May 17, 2005 - 124 comments

Dictators, mercenaries, coups, paranoia and oil

Mysterious Mr. Moto. Severo Moto Nsa, Equatorial Guinea's exiled opposition leader reappeared in Madrid yesterday, after a strange episode in which he first was presumed abducted (or worse), and then, from an undisclosed location in Croatia, had accused the Spanish government of trying to kill him. He already made international headlines last year, with the most bizarre, incompetent coup attempt in a while. Not that the dictator he's trying to topple is a nice character (even if his predecessor and uncle, Francisco Macías Nguema, was even worse). And, of course, there's oil involved. Lots of it.
posted by Skeptic on May 1, 2005 - 11 comments

April 22: Earth Day or Peak Oil Day?

Today the Saudi Oil Minister announced that they are setting aside OPEC production quotas. Is the end for OPEC? More importantly, when the Texas Railroad Commission did the same thing in 1971, it signaled the peaking of US oil production. Oil prices keep rising, and the Main Stream Media blames it on tight refinery capacity. But simple economics tells us that this should actually cause crude prices to drop. So what is happening? Is this the peak of global oil production? President Bush is concerned, and he is hosting Crown Prince Abdullah at the Crawford Ranch this week. Leading Oil & Gas investment banker Matt Simmons thinks that the peak is upon us, and even the Saudi Oil Minister admits that they probably won’t find any more light, sweet crude…
posted by DAJ on Apr 22, 2005 - 81 comments

Energy is an eternal delight

Big Oil fosters skepticism about climate change, years after the vast majority of scientists agree that it's happening. From 2000 to 2003, ExxonMobil spent more than eight million dollars funding some forty think tanks and organizations, whose pundits dutifully propagate the idea that today's man-made C02-emissions aren't really a threat to the future.
posted by Mean Mr. Bucket on Apr 19, 2005 - 37 comments

Out of the frying pan and into the fire.

I know this has been on everyone's mind, but I just read this article today and was astounded at my lack of foresight. Silly me, here I was worrying about global warming when what I need to be fretting about is the decrease in fuel's impact on the structure of international banking! Will we run out of fossil fuel before it's too late to save the environment from pollution and greenhouse gasses? The abiotic nuts think we've got plenty more. Personally, I think we can kiss the marvel that is suburbia goodbye and start contemplating the fact that the focus on the post-post industrial revolution will not be information, but rather agriculture. And since solar panels and windmills and the like are made of materials that are extracted, transported, and fashioned by using oil-powered machinery, my money's on the folks who're stockpiling uranium for all those shiny new nuclear plants we're going to need. So, do we have a plan? You bet we do! Oh. Well, we'll just rely on the advancement of technology to allow us to weasel out of it! Me? I've actually always wanted a horse.
posted by Specklet on Apr 14, 2005 - 67 comments

Regarding Blood And Oil

Whereas, in the past, national power was thought to reside in the possession of a mighty arsenal and the maintenance of extended alliance systems, it is now associated with economic dynamism and the cultivation of technological innovation. To exercise leadership in the current epoch, states are expected to possess a vigorous domestic economy and to outperform other states in the development and export of high-tech goods. While a potent military establishment is still considered essential to national security, it must be balanced by a strong and vibrant economy. 'National security depends on successful engagement in the global economy,' the Institute for National Security Studies observed in a recent Pentagon study.

Regarding Blood and Oil: The Dangers and Consequences of America's Growing Petroleum Dependency by Michael T. Klare, here is an excerpt from the book and here is his most recent article--Oil and the Coming War With Iran. Well, at least he has been consistent--consider The Geopolitics of War, Wars Without End, Oiling the Wheels of War, and Imperial Reach from his articles for The Nation alone. Here is an excerpt from his previous Resource Wars and here is Scraping the bottom of the barrel and Bush-Cheney Energy Strategy: Procuring the Rest of the World's Oil. Well, as to his position on current events, I don't think we need to draw a picture here.
posted by y2karl on Apr 13, 2005 - 52 comments

Manufactured Beachfront Paradises

The World Islands
A man-made island project from the folks that brought you the Palm Islands (mentioned in the blue here).
Think 250 to 300 small private artificial islands ranging in size from 250,000 to 900,000 square feet with the key cool factor of the islands being arranged into the shape of the world's continents. It is located four kilometres off the shore of Jumeirah, Dubai in the United Arab Emirates (Also the subject of an FPP).
Starting at a mere $6.85 million, you can find your place in The World (QT video sales pitch and the WMV version), construction should be completed by the end of 2005. Thinking about relocating to Dubai? It is a cutting edge city with a strong economy, imagine Maine generating $57 billion a year from oil production primarily.
posted by fenriq on Apr 3, 2005 - 39 comments

Profit at any cost

  • The Arctic National Wildlife Refuge's 19 million acres comprise one of the last places on earth where an intact expanse of arctic and sub arctic lands remains protected.
  • Drilling in the Arctic Refuge can't make even a small dent in meeting America's energy needs. U.S. Geological Survey scientists estimate that there is very likely only enough oil to supply America's needs for six months. And oil companies admit that, even that, won't be available for at least 10 years.
  • An irreplaceable natural treasure, the Arctic Refuge is home to caribou, polar bears, grizzly bears, wolves, golden eagles, snow geese and more. Millions of other birds use the Arctic Refuge to nest and as a critical staging area on their migratory journeys.
  • The Arctic Refuge supports more than wildlife. For a thousand generations, the Gwich'in people of Northeast Alaska and Northwest Canada have depended on it and lived in harmony with it. To them, the Arctic Coastal Plain is sacred ground.

  • Yet where God sees life, Republicans see black profit by adding Alaskan drilling to upcoming legislation.
    posted by Mean Mr. Bucket on Mar 15, 2005 - 91 comments

    The Sky (and Global Oil Production) is Falling!

    The Sky (and Global Oil Production) is Falling! With all the recent news on Global Warming, here's an article on the root cause of the problem: Global Energy Use. Has oil production peaked? Is the real focus of the Iraqi insurgency foreshadowing an energy-dominated future? Is there a solution to the problem??
    posted by DAJ on Feb 18, 2005 - 13 comments

    Whirled peas

    “We bit off more than we could chew." When thirty-five Greenpeace protestors raided London's International Petroleum Exchange to mark the first day of the Kyoto protocol coming into effect, the last thing they expected was a lesson in the finer points of beatdown administration at the hands of drunken oil traders.

    "[One protestor] said: 'I took on a Texan Swat team at Esso last year and they were angels compared with this lot.” Behind him, on the balcony of the pub opposite the IPE, a bleary-eyed trader, pint in hand, yelled: 'Sod off, Swampy.'"
    posted by nyterrant on Feb 17, 2005 - 78 comments

    Documents: U.S. condoned Iraq oil smuggling

    Documents: U.S. condoned Iraq oil smuggling Documents obtained by CNN reveal the United States knew about, and even condoned, embargo-breaking oil sales by Saddam Hussein's regime, and did so to shore up alliances with Iraq's neighbors. The oil trade with countries such as Turkey and Jordan appears to have been an open secret inside the U.S. government and the United Nations for years.
    posted by Postroad on Feb 3, 2005 - 28 comments

    The Sinking PetroDollar - abandon ship!

    Is Hugo Chavez Frias a marked man? What about Gerhard Schroeder or Pooty-Poot? We know that Saddam got Euros for oil. October 31, 2000 The United Nations Sanctions Committee approves an Iraqi request to be paid in Euros, rather than United States dollars, for oil exported under the "oil for food" program, which is part of the sanctions regime stemming from Iraq's 1990 invasion of Kuwait.

    Iran has interest in changing to either the new gold dinar or the nifty Euro. Implementation would be in 2005. If you belive Rense.com about The Sunburn (and keep in mind Iran hasn't had over a decade of sanctions to keep its military in check), the float of the PetroDollar may stop once the lighter than water part leaves the Dollar - and the invasion trick won't float (for long) this time.
    Anyone scared yet?
    posted by rough ashlar on Nov 4, 2004 - 24 comments

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