Iran Oil Coming To A Boil??

Discussion in 'Politics, Religion, Social Issues' started by iJohnHenry, Feb 15, 2012.

  1. iJohnHenry macrumors P6

    iJohnHenry

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    #1
    Will they cut-off E.U. oil, or won't they.

    Now it's 'he said - she said' time.

    Either way, now or July, Iran will be losing ~20% of their customer base.

    Will be an interesting Summer, for sure. Popcorn anyone?

    Source.
     
  2. GermanyChris macrumors 601

    GermanyChris

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    #2
    So they'll buy more from Gazprom enriching the Russians who have nothing but the best intentions, and are awefully friendly with the Iranians..

    Sound like a winning proposition
     
  3. iJohnHenry thread starter macrumors P6

    iJohnHenry

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    #3
    Read please.

    Saudi Arabia has already agreed to up their production to cover the loss.
     
  4. elistan macrumors 6502a

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    #4
    Wait, I'm confused. The EU is sanctioning Iran by refusing to purchase Iranian oil, right? So to retaliate, Iran is reportedly refusing to sell oil to the EU? Oil that the EU wouldn't purchase anyway due to the embargo?

    Edit - oh, wait, I get it. The embargo is set to go into effect July 1st, and to go into effect in phases. Iran is supposedly threatening to shut off oil immediately and entirely. Sounds like cutting off your nose to spite your face, but I guess if somebody else will be cutting off your nose tomorrow anyway you might as well do it to yourself today and in such a way that it hurts the other party. But with oil being a fungible commodity, sounds like this plan would overall cause Iran to hurt itself more than it would hurt the EU, so I have a hard time thinking it would come to fruition. Of course, politics are rather irrational at times, so who knows.

    However, what this means for Iranian internal affairs, regardless of how it falls out, is a whole different kettle of fish.
     
  5. GermanyChris macrumors 601

    GermanyChris

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    #5
    But that does not mean thats where the oil will come from. It's just an offer to increase production. Europe gets and has had to long a relationship with the Russian to just start buying Saudi oil. If they did switch to Saudi oil what are the Russians going to do with natural gas prices next fall?

    Please don't condescend there are just to many other connections we're just looking at the surface we haven't even cracked it.

    "Oil is something you can get on the international markets, and Saudi Arabia said they would increase their production," a spokeswoman for EU Energy Commissioner Guenther Oettinger, told the AFP news agency.
     
  6. iJohnHenry thread starter macrumors P6

    iJohnHenry

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    #6
    I am sorry that Germany, and others, are essentially being held hostage by their dependence on Russian natural gas, but this was a situation of their own making.
     
  7. GermanyChris macrumors 601

    GermanyChris

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    #7
    I'm not German just an American living here..but it was of there own making and it's not going to get any better. Russia also provides something like 35% of Europe's oil so it's a double hit. You did notice that the EU energy spokesman was German, is the EU energy secretary German also? If he/she is it truly answers the question.
     
  8. Fazzy macrumors 6502

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    #8
    Thats nice of them.
    :)
     

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