Iran Oil Bourse will accelerate the fall of the American Empire
The Proposed Iranian Oil Bourse by Krassimir PetrovCheck it out at: The Energy Bulletin.
..The Iranian government has finally developed the ultimate “nuclear” weapon that can swiftly destroy the financial system underpinning the American Empire. That weapon is the Iranian Oil Bourse slated to open in March 2006. It will be based on a euro-oil-trading mechanism that naturally implies payment for oil in Euro. In economic terms, this represents a much greater threat to the hegemony of the dollar than Saddam’s, because it will allow anyone willing either to buy or to sell oil for Euro to transact on the exchange, thus circumventing the U.S. dollar altogether. If so, then it is likely that almost everyone will eagerly adopt this euro oil system: the Europeans..., The Chinese..., The Japanese..., The Russians..., and the Arab nations...
Only the British will find themselves between a rock and a hard place.
Also read CSMonitors less dramatic take on it - "Iran's Oil Gambit".
Tags: [energy], [economics], [Iran], [Iraq], [oil]