“I’m so bored. I hate my life.” - Britney Spears

Das Langweilige ist interessant geworden, weil das Interessante angefangen hat langweilig zu werden. – Thomas Mann

"Never for money/always for love" - The Talking Heads

Thursday, June 26, 2008

eating the flesh that she herself has bred...

By the way – re the price of oil – as I wrote a week ago, the main driver of the oil price spike recently has been insecurity. The threats against Iran by Israel, and the futile campaign, led by the U.S., to stop the Iranians from engaging in the uranium enrichment program that they are entitled to at least as much as India (where the U.S. has loaned technically illegal support) and Pakistan, have a cost. The cost can be computed at about 50 cents to a dollar a gallon. Here, for further proof of a series of events that the press, in its neocon wisdom, has simply taken off the table for consideration, is a Financial Times article about the effect of the sanctions in slowing down the development of one of the prime oil fields in the world – in Iran. Of course, if this was Venezuala taking a field out of commission, there’d be the usual dyspeptic drumbeat. But stories like this about Iran aren’t meant for the morons or the children – they might start doubting the wisdom of our establishment! That would be so sad.



“As energy prices surge, the world is wondering where it will all end. Where will supplies come from in the future? Iran, sitting on the world’s second largest reserves of gas – in addition to huge quantities of oil – is tomorrow’s apparent answer.
Iran should in theory be a magnet for international oil companies, which are cash-rich and searching for ways to replenish their diminishing reserves. But the geopolitical environment, in which Iran is being marginalised because of a refusal to suspend work on its nuclear programme, means this is not the case.
South Pars, the world’s largest gas field, is shared between Iran and Qatar but development from the Iranian side has ground almost to a halt, thanks to the US-led crackdown on business links with Iran. This week the European Union ratcheted up the pressure, agreeing tougher financial measures against Tehran.

...
This delicate balancing act is exemplified by the decision of Royal Dutch Shell and Repsol last month to withdraw from the development of what is known as phase 13 of South Pars. The lack of new investment from the oil majors means Iran is left to deal with relatively inexperienced minnows that are desperate for the business – companies from the likes of Austria, Croatia and Poland.”

I will go out on a limb and make a prediction: this will not become an issue in the Presidential or even be mentioned by the NYT and the Washington Post. It would, after all, point to a small paradox: the U.S. is pursuing a foreign policy that has become immediately injurious to the economic power of the average American household. It is pursuing this policy solely from vanity and the interest of the defense industry-petro club to churn up wars and perpetual hostility. Those with memories - that brave band! - might recall that the newspapers touted Bush's European tour, which ended with increasing sanctions on Iran, as a triumph. At the same time, the business pages recorded another spike in the future's market for oil. It was like these stories had nothing to do with each other.

On the other hand - maybe we should laugh at all the morons dying on the gas grapevine. They wanted it. Now let them eat it to the last little morsel.

Poor and rich, laborer and boss - let them all eat their fill of the dainty pie, in which so many sweet and tender Iraqis have been well and truly baked.

Oh corrupt and heartless generation... you will eat your heart, several times over, before this is done.

1 comment:

JCD said...

"Those with memories - that brave band! - might recall that the newspapers touted Bush's European tour, which ended with increasing sanctions on Iran, as a triumph. At the same time, the business pages recorded another spike in the future's market for oil. It was like these stories had nothing to do with each other."

Oh you are far too harsh. That's like saying that channels two and four ought in some way mix content!