The Iran Oil Bourse (IOB) is opening soon according to Press TV and even if its not as big media coverage of it as the nuclear program some people feel that it is a major threat towards the dominance of the petrodollar ;
"...according to some experts such a move could lead to a huge drop in value for the American currency, potentially putting the U.S. economy in its greatest crisis since the depression era of the 1930s."
"The oil bourse would transact petroleum, petrochemicals and gas in various non-dollar currencies, primarily the euro. It would also establish a euro-based pricing mechanism for oil trading, or oil marker as it is called by traders."
Petroeuro is the same thing that made Saddam Hussein a very disliked dictator in Washington;
"In September 2000 Iraq began selling all oil exports in euros. The euro then increased in value which added much profitability to European operations. The US invaded and shortly thereafter (four months to be exact) reverted all Iraqi oil trades back to the US dollar as well as nullifying previous foreign contracts."
So the brief love between the US and Iran in 2001 against the talibans is long gone I presume ...
Iran has also brought some interest from Lundin Mining who recently ran into trouble;
"An arm of the Iranian government has said it wants to cancel agreements relating to the Mehdiabad zinc project with Union Resources Ltd. of Australia, Union's 19.9 per cent owner Lundin Mining Corp. said Friday."
...but probably not as much trouble as when Hugo Chavez stole 1 billion kronor from our foreign ministers Lundin Petroleum, nationalizing the oil.
Socialists and Islamofascists are a bitch ..
