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#1 Saudi Arabia says it is prepared to supply extra oil
It'll be interesting to see if the Soddies step up to the plate and do the right thing or just do their usual posturing like a Thai prostitute making out with an Iranian assassin.
Posted by tipper 2012-02-19 12:19||
#2 Ummm, isn't there this EU thingy that both UK & French are in? Seems that the trading block should just be the middle man, no muss, no fuss.
Posted by AlanC 2012-02-19 12:47||
#3 "we will sell our oil to new customers"
And the British and French can buy their oil from where Iran's "new" customers were previously buying it. The problem is that oil is pretty much oil with a few exceptions. So when Iran decides to sell to someone else, that frees up the oil that "someone else" was buying to be bought by others. It doesn't change the amount of oil in the market.
Posted by crosspatch 2012-02-19 14:49||
#4 See also TOPIX > ANALYSTS: BRITAIN FACES FUEL CHAOS WID IRAN CUTOFF.
Ditto the Euros.
[POST-YOM KIPPUR WAR 1973 SAUDI OIL EMBARGO here].
Posted by JosephMendiola 2012-02-19 22:53||