May 20, 2010

GIVEN THE CHOICE BETWEEN CHEAP GAS AND REGIME CHANGE....:

Oil Trade With Iran Thrives, Discreetly (STEVE STECKLOW, SPENCER SWARTZ and MARGARET COKER, 5/20/10, WSJ)

None of the current sanctions proposals in the United Nations or the U.S.—including the latest ones agreed to this week by the U.S., Russia and China—would target Iran's oil-export business, which generates about half of its government revenues. Doing so, experts say, likely would drive up the commodity's price world-wide and result in higher gasoline prices in the U.S., of as much as $1 more a gallon, even though the U.S. doesn't import any Iranian oil.

Posted by Orrin Judd at May 20, 2010 1:43 PM
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