What a tricky predicament.............. US senator says new Iran sanctions won't disrupt oil http://www.google.com/hostednews/af...ocId=CNG.83c68587f9143ca68906b63f96187d52.6f1 (AFP) 3 hours ago WASHINGTON Saudi Arabia has expressed "great willingness" to boost oil production to ensure potential new US sanctions on Iran don't disrupt global petroleum markets, a key US senator said Tuesday. Republican Senator Mark Kirk, co-author of a bill aimed at cutting off Iran's central bank from the world financial system, was addressing worries that his legislation could inadvertently send oil prices higher, lining Tehran's pockets. "I've had detailed conversations with Saudi Arabia's ambassador to the United States, who described a great willingness by Saudi Arabia to increase production," to remedy that potential issue, Kirk told reporters. The senator said he and Democratic Senator Robert Menendez met with aides to President Barack Obama earlier in the day to make the case that the administration should drop its opposition to the sanctions bill. "I don't think that they were swayed," according to Kirk, who said that the two lawmakers had stressed that the legislation gives the administration "considerable flexibility in handling" the imposition of sanctions. "There are several months before action by the administration, so it gives time for diplomacy to work, it gives time for markets to adjust, and most importantly it gives time for the Saudis to increase production," he said. "Unless we take decisive action on sanctioning, I think what Iran is doing actually destabilizes oil markets in a more significant way," said Kirk, who cited "the takeover of the British embassy" and new reports seen as backing Western charges that Tehran seeks nuclear weapons. "The attainment of a nuclear weapon by Iran would destabilize world markets far more than any action of the senate," he said. "Time is not on our side."
Uncle Ferd says bomb the schlitz outta `em if dey do... Iran Threatens to Block Gulf Oil if Sanctions Applied December 27, 2011 - Iran has threatened to block the flow of oil through the Strait of Hormuz if Western governments attempt to impose sanctions on its petroleum exports in their dispute over its nuclear ambitions. Granny says stick a Patriot missile up dat lil' Shiite's wazoo.
Granny says blow `em outta the water... Iran-US stand-off over Strait of Hormuz worsens Thursday 29th December, 2011 - The stand-off between the US and Iran over access to the strategic Strait of Hormuz shipping channel worsened Thursday with Tehran declaring that any threat would be "responded by threat".
Gas prices gonna go up... Iran oil boycott menaces world economy Jan. 15, 2012 -- Some financial analysts say the rising tensions over Iran's nuclear program could throw a wrench into the world economy. See also: Iran warns its Gulf neighbors against producing more oil Mon, Jan 16, 2012 - Iran warned its Arab neighbors on Sunday not to raise crude output to replace Iranian oil in the event of an embargo by the EU, Tehrans OPEC Governor Mohammad Ali Khatibi was quoted as saying.
stop after the word "Republican." these are the same guys who said the Iraq war would pay for itself in oil.....
Granny says, "Dat's right - sanction `em till dey cry 'Uncle!'... Sanctions hurting Iran's access to capital: U.S. report 7 Jan.`13 WASHINGTON (Reuters) - Western sanctions targeting Iran's nuclear program contributed to a steep drop in Tehran's access to global sources of capital last year, the U.S. Treasury Department said in a report to Congress. See also: Iran: Sanctions make nuclear talks with US futile Feb 7,`13 -- American proposals for direct talks with Iran are pointless while Washington is "holding a gun" to the country through sanctions, Iran's supreme leader said Thursday, quashing a possible breakthrough in contacts with the West over the nuclear standoff.
