Iran Becomes President of OPEC

Awesome !!! 5 dollars for a goddamn gallon....

no way....really????

Iran Elected To OPEC Presidency Anonymous Coward 2 38
(1 votes) 10/14/10
8:31 PM 10/15/10
7:41 PM

***Iran to take over OPEC presidency in 2011*** The_Tauremini 17 129
(2 votes) 10/14/10
6:45 PM 10/15/10
10:35 AM

IRAN TO TAKE OVER OPEC PRESIDENCY IN 2011 Anonymous Coward 0 13
(1 votes) 10/14/10
7:17 PM 10/14/10
7:17 PM

This is not good.

Nope. It sure isn't.

Gee what is that bright glow on the horizon? Kinda looks like... war.

You could have knocked me over with a feather when I saw it, I even dbl checked the source.

Probably the most significant news story today.

Starting Jan 1 2011.

story confirmed @ [link to www.bbc.co.uk]

This deserves a pin.

very very good news

CONGRATS IRAN

Needs a pin please

Prophecy is being fulfilled, the petrol-dollar is toast come 2011.

Oil will get denominated in the EURO

The United States will suffer hyper-inflation.

Book of Revelation.

For higher gas and petroleum products. Buy you're vaseline now lol.

It'll turn into an excuse for the Jews to get themselves whipped up into yet another hate frenzy.

This move will further extend Brent's influence -- currently tops WTI and referenced in about 70 percent or global crude supplies -- and most likely divert the trading volume from NYMEX into ICE, weakening the U.S. status as the world’s leading financial trading hub.

Meanwhile, widespread strikes, sparked by the pension reform, at all of France's 12 refineries have caused supply concerns among oil producers including Total (TOT), and if prolonged, could further widen the WTI-Brent spread. (However, it most likely will not have much impact on the U.S. since France is not one of the major importers of crude product into the U.S.)

"We'd Love to See $100 a Barrel"

While high stocks level traps crude, the 13 percent decline in the Dollar Index since June, on the other hand, has prompted some OPEC members to support $100 oil. For example, Bloomberg reported that Libya indicated “We would love to see $100 a barrel” to help offset the loss of revenue from the weaker dollar. And Venezuela claims the U.S. currency’s weakness means the “real price” of oil is about $20 less than current levels.

QE2 Brings New Normal To Crude

Federal Reserve Chairman Ben Bernanke said in a speech on Oct. 15 that the Fed is prepared to buy Treasury bonds to stimulate the faltering U.S. economy, i.e. a second round of quantitative easing (QE2), and that the interest rate will remain low and longer than the markets' expectation (meaning probably through 2012, instead of 2011).

Such policy typically will further weaken the U.S. dollar, while artificially pushing up prices of dollar-denominated commodities such as crude oil, which could lift crude oil into a New Normal of crude oil trading range of $80 to $95 a barrel from the current $70 to $85 price band, through the end of the year, along with lots more jabs from OPEC, particularly Hugo Chavez.

“Trader’s Market” Through Year End

For the remainder of the year, a “miracle story” in either the demand or supply side of the equation is highly unlikely. Barring geopolitics and / or an exceptionally freezing winter season, crude oil probably will be a “trader’s market” before 2011, and prices will be mostly dictated by its inverse relationship to the U.S. dollar, and the timing and extent of the widely expected QE2 from the U.S. central bank.

[link to seekingalpha.com]

When the time is right all of those who's purpose in life was to steal as much wealth from the people as possible simply so you could claim to have the most will have their necks broken and the necks of their entire family broken including their children so that their evil seed will be completely and utterly destroyed from this planet.


Why is it that billionaires feel the need for more money?

oh geez......which one would you pin...the story first posted here several days ago or this one where the OP failed to use search....

The Next Big Thing

“NH3 is the only realistic energy solution that makes sense.”

[link to www.energy.iastate.edu]

Remember in Chinatown when Jake Gittes says to Noah Cross:

"With all your money, why are you doing it? How much better can you eat? What can you buy that you cant already afford?"

Noah Cross say: "Why the future, Mr. Gitts, the future ..."

Funny how that happens right? Now someone will come in and make light of the fact...

It's all good,lol.