Sanctions on Iran's Oil

[joey64]

here's an interesting story the American media of course is NOT talking about, saw on the Korean TV news that USA sent some guy to S. Korea to put a lot of pressure on about SK not buying any more oil from Iran as part of the sanctions due to their atomic program

the report said that oil from Iran is about $4 less a barrel than the world average price, so of course SK switching over the non-Iranian oil will raise their costs so their gas prices will rise, additionally, they will now be contributing to the world demand for non-Iranian oil so that will raise those prices even more

so the effect of the sanctions will obviously be that world oil prices will keep rising so that the end consumers, us, will spend more money, & will Iran give a fuck & abandon their atomic program?

[Supersonic]

here's an interesting story the American media of course is NOT talking about, saw on the Korean TV news that USA sent some guy to S. Korea to put a lot of pressure on about SK not buying any more oil from Iran as part of the sanctions due to their atomic program

the report said that oil from Iran is about $4 less a barrel than the world average price, so of course SK switching over the non-Iranian oil will raise their costs so their gas prices will rise, additionally, they will now be contributing to the world demand for non-Iranian oil so that will raise those prices even more

so the effect of the sanctions will obviously be that world oil prices will keep rising so that the end consumers, us, will spend more money, & will Iran give a fuck & abandon their atomic program?

This story has been kicking around for some time over here but I doubt it would work as India and China have both stated they will ignore the embargo. Even the Euro Union can't agree to the embargo as Greece are heavy consumers of Iranian oil and don't want to give it up.

[Skate4RnR]

Wow, you mean oil prices might go up in the summertime then?

[joey64]

so maybe US pressure did something, but I bet the net result is gas prices rise & Iran continues doing whatever they want to do

http://news.yahoo.com/blogs/envoy/eu-ba ... 00276.html