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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: neolib who wrote (168978)	8/14/2005 7:28:46 PM
From: bentway	Read Replies (1) \| Respond to of 281500

I think you didn't read it carefully enough. He's not just talking about Iran selling their oil for euros. He's talking about Iran establishing a new international market where ALL countries can sell their oil for euros, and the effects of such a market. It's true that the effect might initially be small, but it might be a slippery slope, leading to the euro being a true competing "world reserve currency" with the dollar. This would open the US up to all sorts of economic dangers. As the Bush admin diplomacy consists of military threats and force, we'd be I'll prepared to deal with it.

To: neolib who wrote (168978)	8/15/2005 7:10:24 PM
From: Noel de Leon	Read Replies (1) \| Respond to of 281500

If oil goes to $100 then the economic problems that will arise coupled with the US debt position will cause serious dislocations in the US economy. If the preferred exchange is PetroEuros then control of the oil market will be in the hands of those countries using the PetroEuros. They bombed Iraq, in part, to get the PetroEuro/PetroDinar off the Iraqi table. Now Iran is working on it. By the way don't expect that China will get compensation for its lost oil deal with Iran after a US invasion. But a lot of countries will be irritated.