26 Jun '13, 12pm

Additional Iranian Oil Sanctions May Be Counterproductive

Additional Iranian Oil Sanctions May Be Counterproductive

A June 6, 2013, article from Reuters is titled, “Lawmakers in new drive to slash Iran’s oil sales to a trickle.” According to it, U.S. lawmakers are embarking this summer on a campaign to deal a deeper blow to Iran’s diminishing oil exports, and while they are still working out the details, analysts say the ultimate goal could be a near total cut-off. My concern is that the new sanctions, if they work, will put the United States and Europe in a worse financial position than they were before the sanctions, mostly because of a spike in oil prices. How much reduction in oil exports are we talking about? According to both the EIA and BP, Iranian oil exports were in the 2.5 million barrels a day range, for most years in the 1992 to 2011 period. In 2012, Iran’s oil exports dropped to 1.7 or 1.8 million barrels a day. Recent data from OPEC suggests Iranian oil exports (crude + pr...

Full article: http://www.theoildrum.com/node/10038

Tweets

Full NCAA report available here, sanctions incl...

goducks.com 26 Jun '13, 2pm

@GoDucks : Justin Hoffman knows there are 81 days until kickoff #goducks http://t.co/XWg3GjJySS Tue, 11 Jun 2013 17:08:39 ...

It May be 2013 for Some, but it is 2014, 2015, ...

ricksblog.com 29 Jun '13, 11am

I know some people who walk and always look down at their toes and seem to always have bruises on their foreheads. Should ...

Read my new post: Flashback of May 2013 {In Ins...

renzze.com 30 Jun '13, 1am

I can’t believe how fast time flies. It’s almost end June and I’ve not done my usual flashback post for May yet. Well, bet...

Calgary floods trigger an oil spill and a mass evacuation

Calgary floods trigger an oil spill and a mass ...

grist.org 25 Jun '13, 10pm

Epic floods forced more than 100,000 people to flee their homes last week in Calgary, Alberta, the tar-sands mining capita...

The last surviving otter from the Exxon Valdez oil spill has died

The last surviving otter from the Exxon Valdez ...

treehugger.com 26 Jun '13, 12am

When a female sea otter named Homer was born near the cool, clean waters along Alaska's Prince William Sound, her life mus...