Petrodollars -- Why Iran Is Next Target of PNAC

[norml]

Petrodollars -- Why Iran Is Next Target of PNAC
by WILLIAM CLARK

The Iranians are about to commit an "offense" far greater than Saddam Hussein's conversion to the euro of Iraq’s oil exports in the fall of 2000.

Numerous articles have revealed Pentagon planning for operations against Iran as early as 2005.

While the publicly stated reasons will be over Iran's nuclear ambitions, there are unspoken macroeconomic drivers explaining the Real Reasons regarding the 2nd stage of petrodollar warfare - Iran's upcoming euro-based oil Bourse.

In 2005-2006, The Tehran government has a developed a plan to begin competing with New York's NYMEX and London's IPE with respect to international oil trades - using a euro-denominated international oil-trading mechanism.


snip

http://www.conspiracyplanet.com/channel.cfm?channelid=80&contentid=1956

[SoCalDem]

1. Iran is between Iraq & Afghanistan

:)

[cthrumatrix]

2. the oil trading market in euro's has been planned for some time

the London Market mostly owned by Goldman Sachs probably does not like this

[xpat]

3. Here's another important article on this same issue:

http://www.feasta.org/documents/review2/nunan.htm

[cthrumatrix]

4. where are bush cronies talking about this?????

[xpat]

5. Not exactly Bush cronies talking, but

this background article might help decode what they do say so that it becomes more apparent what they mean:

http://www.thedubyareport.com/econiraq.html

[norml]

6. Wow! There's a lot of good reference links on that article.

snip



The idea of a US-controlled Iraq offered the promise of limiting OPEC control over Middle East oil production, and perhaps preventing measures like switching the currency of oil transactions to the euro. But in practice that would require large investments in Iraqi oil infrastructure and production, something that requires a stable, reconstructed Iraq. If, as William Clark's anonymous economist put it, "... the dangers of American global hegemony are ever perceived as a greater liability than the dangers of toppling the international order," -- the likelihood of which has increased with the US exclusion of French and Russian interests from post-war Iraq, and the potential threat to OPEC -- the economic retribution that P.D. Scott refers to could take the form of replacing the petrodollars with petroeuros. If Iraq becomes the US's Suez, it may be said that the US won the battle of Baghdad, but lost the global economic war.
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References:
Kaplan, Fred "The Iraq Sanctions Worked (And other revelations from David Kay's report)" Slate 7 Oct. 2003
Graff, Peter "Iraq War Swells Al Qaeda's Ranks, Report Says" Reuters. 15 Oct. 2003
"Gift of Friendship" Saudi Arabia Magazine Summer 1999. 16.2.
Eddy, William A. F.D.R. Meets Ibn Saud New York: American Friends of the Middle East. 1954. Klare, Michael T. "The Geopolitics of War" The Nation 18 Oct. 2001
--. "The Coming War With Iraq: Deciphering the Bush Administration's Motives" Foreign Policy in Focus 16 Jan. 2003
Heard, Geoffrey "An Economic Perspective On The War" Double Standards. 23 Mar. 2003
General Information Organization of the Petroleum Exporting Countries. Aug. 2002.
Betts, Raymond F. "Contemporary Europe" Europe In Retrospect Britannia.com. 2000
Cleaver, Harry M. The Rise and Fall of the Keynesian State University of Texas. (undated)
Oweiss, Ibrahim Petrodollars: Problems and Prospects Address before the Conference on The World Monetary Crisis. Arden House, Harriman Campus, Columbia University. 1974
--. Economics of Petrodollars Georgetown University. 1986 (?).
Paul, James A. "Great Power Conflict over Iraqi Oil:the World War I Era" Global Policy Forum. Oct. 2002
"Administrative/Biographical History" A Collection-level Description for the Iraq Petroleum Company Archive University of Warwick, UK.
Stork, Joe Middle East Oil and the Energy Crisis New York: Monthly Review Press. 1975 (excerpted by the Global Policy Forum)
"Excerpts from 1992 Draft 'Defense Planning Guide'" The War Behind Closed Doors PBS Frontline.
Tyler, Patrick E. "Pentagon Drops Goal Of Blocking New Superpowers" NY Times. 24 May 1992
"The Political, Economic, Social, Cultural, and Religious Trends in the Middle East and the Gulf and Their Impact on Energy Supply, Security, and Pricing" Baker Institute Study No. 3. April 1997.
"Timetable." Euro Essentials Archive June 2002
Islam, Faisal "Iraq nets handsome profit by dumping dollar for euro" Observer (UK) 16 Feb. 2003
DeLong, Brad "'Exorbitant Privilege,' or, How Worrisome Is the U.S. Trade Deficit?" Semi-Daily Journal. 16 Aug. 2003
Liu, Henry C K "US dollar hegemony has got to go" Asia Times. 11 Apr. 2002
"A-a-and down!" Economist 25 Sep. 2003
"A cliff-hanger" Economist 6 Jun. 2003
"The O'Neill doctrine" Economist 25 Apr. 2003
Clark, William "The Real Reasons for the Upcoming War With Iraq" Independent Media Center. Updated 6 Mar. 2003.
"Effects on Argentine Citizens" Segment 16. All Things Considered NPR. 30 Jan 2002.
Dodson, Edward J. "Saudi Arabia: Gambling on Deep Pocket Power" Temple University. 1986.
Obaid, Nawaf E. "The Power of Saudi Arabia's Islamic Leaders" The Middle East Quarterly Sep. 1999. 6.3
Beams, Nick "Oil and the coming war against Iraq" WSWS 19 Feb. 2003
Fisk, Robert. "New crisis; old lessons" Independent (UK) 15 Jan. 2003
Scott, P.D. "Bush's Deep Reasons for War on Iraq" U.C. Berkeley. 27 May 2003

[xpat]

7. Yeah. It's a serious study.