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Iranian crude oil exports have fallen by 300,000 barrels/day in March, Reuters reports, a drop...

Iranian crude oil exports have fallen by 300,000 barrels/day in March, Reuters reports, a drop of 14% in Iran’s exports attributed to growing compliance to U.S.-led sanctions. Nymex crude spiked to $108.25, pulled back, and have steadily climbed back to $107, up 1.6%. Pres. Obama weighs in on the issue, saying Middle East tensions could add $20-$30 to oil prices.
Comments (18)
  • buyitcheap
    , contributor
    Comments (1892) | Send Message
     
    How can Iran afford to lose that much money? Unless they're selling out a side door somewhere? Pipeline?
    23 Mar 2012, 12:52 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2508) | Send Message
     
    Articles that I have read on Iran shows that the economy is in fact suffering from the sanctions.

     

    That Keystone XL pipeline would eliminate some of our concern over Middle East politics which is one of the reasons the President should approve it. Oil from Canada or from the Middle East, seems like a no-brainer to me.
    23 Mar 2012, 12:58 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    LS, I disagree.... The US gets only 8% of it's oil from the ME. We don't even need that ,but, were capitalists and were exporting some of our sweet stuff and buying a little from overseas.

     

    Bakken oil can be had for 70 bucks a barrel at times and refineries are selling gasoline as exports to those they can charge the most. If we had the pipelines and had more of the Canadian oil were still going to see the ME an newer cartel members regulate the prices outside the US. Thus the US companies will still sell to the highest buyers. So, pipelines might create jobs ,but, the world price will set the US prices and we don't want it any other way,, Were not communists ! Are we ?
    23 Mar 2012, 05:23 PM Reply Like
  • easyrob
    , contributor
    Comments (297) | Send Message
     
    Keystone oil bypasses US.
    Would relieve some price pressure but is for export from N.A.
    If it goes to Pacific will have same affect.
    23 Mar 2012, 09:43 PM Reply Like
  • InfoSecLabRat
    , contributor
    Comment (1) | Send Message
     
    That pipeline would prove to make the US totally independent if it was only allowed to be used within the US and Canada. This is one place where our government needs to create a federal oil line just for the US and Canada. Once we are solo we can then look into exporting oil to allies in europe and other areas. The cost of this creation can be done within our countries budget. When the government creates a pipeline and hires tens of thousands of workers to do it, this will boost our overall security from any middle eastern country.
    I know none wants the government to own anything but if a corporation does this they will just keep prices where they are and not provide the money and cost of living break everyone needs so badly. Then again can we trust the government to play FAIR?
    I can only state what could be if an honest President made the pipeline happen and set down rules to make sure Americans can actually get a really good cost of living break WITHOUT increasing national debt AGAIN. Currently the method to simulate grow has been fake and bought by borrowing from China whom by the way has been boldly creating its own almost uncountable military build up. Tell me how America can say anything to China which can make them care enough to listen. We are indebted to them TRILLIONS of dollars. It really was a stupid move and provides the US no leverage what so ever. China is a national security threat which no body can ignore. Fact is it has been ignored and the media doesn't say anything, WHY? They are not building their military up for fun and games. They have plans.
    The pipeline creates our own oil independence IF we use this oil within the US first. Later spread to exporting oil. Being independent is what America was supposed to always be.
    Helping our allies is a responsibility but they need to do their fair share of work too. If China invades Russia exactly how will the US deal with this? Japan too? Thank the Clinton administration for giving China the ability to shoot down satellites as well as clutter up space with debris from they blowing up of the satellite. The Administration gave the guidance system under the naive thought China would never use it for ballistic missile systems. This was the MOST serious National Security mistake EVER made BAR NONE.

     

    The major NEED is to make SURE the pipeline gets USED first and foremost within the US!!. This needs to be mandated to provide immediate relief to our economy. So far the current administration has did everything to setup the US to fall with nothing left. People, Just examine the small things which all led to a fake and unstable economy. All federal money and oil reserves have been used up. Now they are planning to use up our strategic oil reserves and have borrowed 3+ Trillion dollars from China which we must pay back or our children shall be paying back. There are many more little pieces if all looked upon it becomes very clear we need stability and this pipeline can be the one true ticket. So why is this administration holding out by hiding behind environmental issues. They should worry more about cyber attacks against our countries Nuclear reactors. That's a real environmental worry.
    24 Mar 2012, 08:10 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Comment one ! Welcome,but, were tired of fairy tales. And touts of anti-capitalism with a twist of politics.

     

    Like Joe Friday always said.... "Just the facts mam ( or sir)"
    24 Mar 2012, 08:21 AM Reply Like
  • Cowboy77
    , contributor
    Comments (2) | Send Message
     
    Every penny that we can keep at home is a very good thing for our country. Just look at south Texas and all these roughnecks making 100K a year. These are guys who'd be making $15 an hour (maybe) in San Antonio or Houston if not for the oil drilling. And that doesn't even speak to all the ancillary businesses that it takes to support the drilling. One half our our trade deficit is money we spend on buying oil. This is an absolute no brainer. Drill, baby, drill!!
    25 Mar 2012, 02:45 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Iran's economy is suffering ,but, if what all are saying was true it would be shut down. But, it's not !!! Why ? 2 reasons!
    1- Iran has been getting around sanctions as a way of life.
    2- Iran has re-flagged 3/4s of it's ships over the past 5 years and these ships are bringing oil to China, India , Japan and Singapore and a bunch of other countries and these flagged ships can move the payments getting around banking sanctions''

     

    I say this because common sense should make people ask thee question as to how things are EVEN still going on after all these sanctions !
    23 Mar 2012, 05:10 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11153) | Send Message
     
    If we weren't absurd enough to invade Iraq we could have had the strength to stop the real nuclear tyrant, Iran. Sadly, Bush Jr.'s mission accomplished was America's failure. I was a restart button. We are now broke with almost nothing to gain for being in Iraq save making oil companies filthy rich (it just magically happens to be they all are Bush Jr's friends. Fancy that).
    24 Mar 2012, 01:14 AM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    It just happens to be China. Not Bush's friends. China has all the contracts in Iraq and with the Kurdish Iraqis. The refineries are being built by Chinese an fancy that, another ignorant SA comment.

     

    And, yes I was born in Baghdad an yes i bla bla the language and yes many of my family members work in the oil industry. In Iraq...

     

    Maybe the Chinese will contract some work with US firms,but, not Iraq
    24 Mar 2012, 05:54 AM Reply Like
  • buyitcheap
    , contributor
    Comments (1892) | Send Message
     
    The Kurds were the only hope imho to bring real stability in that region. and the US screwed them over. Had we not done so, I'd expect that business would've been better. The Chinese want to do business period, and have the firepower and the money to make it happen and we just opened the door and watched them walk right past. (I believe Ron Paul actually alluded to that in one of his speeches or debates.) But they have totally eaten our lunch in Iraq.

     

    The better solution on 9/12/01 would've been a massive $500B energy infrastructure program in the US that would have made us completely independent of any foreign energy so we could finally extract ourselves from that region entirely - a worse meat grinder consuming so many more resources.
    24 Mar 2012, 10:54 AM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11153) | Send Message
     
    I agree the US needs to be more energy independent, especially from the Middle East. Even so, Iran's nuclear ambitions are still a cause for concern which I wish we had the economic power to deal with. Unfortunately we squandered that. As for keeping people from buying cheap oil, you can blame China or others, but the simple fact is, its almost impossible to prevent its sale save a military blockade which invites war again.
    24 Mar 2012, 05:34 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    buy, take it from me ! An Iraqi by birth ! Iraqi's are Arabs an Arabs HATE Kurdish people an so do Turks ! That oil will be taken from them soon. The Chinese signed lots of deals with the Kurds because the US forces kept that area whole. The US is gone an Iraqi leaders have let China know they MUST renegotiate with them ! That is happening.

     

    The Iraqi VP spoke out an as a Sunni he was arrested !

     

    The Shiites will first deal with Christians and Kurds. Then a full civil war against the Sunnis........Bet on it ! Bet big !
    24 Mar 2012, 06:52 PM Reply Like
  • buyitcheap
    , contributor
    Comments (1892) | Send Message
     
    Wow DaLatin - that's incredible. I have no basis, barring additional research, to counter your statements.

     

    You're suggesting a full blown sectarian war that is "imminent" ? There is certainly evidence that the Christians are being eliminated, even by the Saudis. So you're saying the Shiites will en masse make a move to dominate the entire region? That goes to an earlier thought I had that ONE group has to win in order for the region to stabilize, but you're saying it will be the Shiites?

     

    I don't suppose you have a sense of other indicators, perhaps based on election results in the future perhaps?
    24 Mar 2012, 08:41 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Caliphate !

     

    Your seeing it from Tunisia to Egypt and already taken hold in Turkey.........Libya... All Muslim Brotherhood running the new show just like Egypt as soon as the military is forced to give up control.

     

    Syria........ After Friday prayers the religious right take to the streets an attack. Assad is a monster ,but, he is fighting for all the Kings an that's why they're all paying lip service an not fighting with the rebels ........

     

    Those rebels are the ones who will be ruled by the Brotherhood when Assad falls.

     

    Nobody in the US hears the truth. Not a fact gets on US airwaves.

     

    I am posting facts when I say Iran has re-flagged 3/4s of their vessels. No wonder you don't hear about Iranian oil,but, there wells are pumping and there countries are trading goods for oil. BARTEL deals signed a year back with China. N Korea sending ICBMs to Beijing airport an then going to Iran......

     

    The west is asleep !

     

    There is a civil war now ! Remember the Great General Petraus ( the father of the surge) who said in Jan 2011" the increase of troop strength back to 165,000 was not the reason for the reduction of violence in Iraq. It was a surge of ideas " What he really meant was putting 250,000 Sunnis ex military back on US payrolls. Saddam's inner battalions survived the 80,000 sorties,but, the 700,000+ Shiite soldiers were killed ! That is why it's taking the Shiites time to rebuild,but, there on there way with Iran's help !

     

    The Sunnis monarchs are paying payola to thousands of there Shiites to keep the whole ball of wax from going poof.

     

    The clock is ticking and when Iran says their messiah is coming. They mean it and to make this happen they must make Israel a ball of fire and the US too. They will use the weapons and the "MAD" concept means nothing to them. Common....... WE ALL KNOW ISRAEL HAS NUKES and they can destroy Iran 1000 times ,but, Isreal won't use them and they know Iran will.. Obama refuses to see this as it doesn't fit his re-election plans !

     

    Try listening in Farsi ! Then you'll know !
    24 Mar 2012, 09:03 PM Reply Like
  • The Geoffster
    , contributor
    Comments (4013) | Send Message
     
    Moon, I'm a follower and enjoy your posts. I agree that Iraq seems to be a colossal mistake, but I think you might be missing the point. It's all about oil.
    24 Mar 2012, 11:19 PM Reply Like
  • WarEagle#1
    , contributor
    Comments (36) | Send Message
     
    The reason natural gas prices have fallen so fast is because producers can't export it easily. But gasoline, diesel, and jet fuel can be exported. Fuel is in fact the United State's largest export. Refiners have no intentions of lowering prices and profits in the United States by increasing fuel supply, no matter how much oil they have access to. Demand is actually falling, but supply is being cut to maintain the price. That is the problem we face. I strongly support Keystone to help America's economy, if and only if we ban exports of fuels to other countries. Otherwise, all we're talking about is who profits from it- politicians, refiners, pipelines, etc.
    24 Mar 2012, 12:54 PM Reply Like
  • Jeb Handwerger
    , contributor
    Comments (627) | Send Message
     
    For many centuries, the Middle East has been a simmering cauldron that now may be coming to a boil. Across the centuries we have witnessed world events being influenced by what occurs in this geopolitical arena.

     

    We have only to witness Abel and Cain, Esau and Jacob, Ishmael and Isaac, among others. Even today, these classic blood feuds continues across the centuries. They extend as far as Egypt,Darfour, Kashmir, Somalia, China and most recently Mali where there are many major gold mining companies operating.

     

    http://bit.ly/GNDJgw
    25 Mar 2012, 12:30 AM Reply Like
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