XPost: uk.politics.misc, alt.politics.british, alt.conspiracy   
   XPost: alt.conspiracy.new-world-order, alt.america, alt.conspira   
   y.america-at-war   
   XPost: us.politics   
   From: abelard3@abelard.org   
      
   On Tue, 11 Jul 2006 12:37:02 +0100, "oO"    
      
     typed:   
   >Iran to begin initial phase of Euro-based oil bourse in Sept.   
   >Iran will start the initial phase of its planned Iranian oil bourse at the   
   >end of September, the news agency ISNA reported last Wednesday. An unnamed   
   >oil ministry official told ISNA that his ministry had already presented the   
   >relevant documents to the economic and finance ministry and the bourse   
   >organisation.   
   >   
   >The building that will house the oil bourse has reportedly already been   
   >purchased in the southern Iranian island of Kish. Petrochemical and   
   >oil-related products will be made available to customers in the first phase   
   >but the volume of the shares to be traded is not yet clear, the official   
   >told ISNA. Economics and Finance Minister Davoud Danesh-Jafari said last   
   >April that the issue had already been agreed upon and that the oil ministry   
   >had given the go-ahead for the opening of the bourse. The exchange will have   
   >a positive impact on oil sales, not only in Iran but in the wider Gulf   
   >region and is slated to replace the current dollar-based oil exchange with   
   >one based on the Euro, he said.   
   >   
   >The International Petroleum Exchange in London and the New York Mercantile   
   >Exchange, on which oil is currently traded, both use the dollar. Iran argues   
   >that as long as 60 percent of global oil and 25 percent of natural gas needs   
   >are met by Gulf states, oil dealing in either New York or London made no   
   >sense.   
   >   
   >Iran also wants to circumvent dollar-based oil exchanges to avoid being   
   >impacted by the United States economy. The plan to open the exchange in Kish   
   >was raised by the administration of President Mahmoud Ahmadinejad last year.   
   >It was due to be opened before the beginning of the Persian New Year on   
   >March 21 but has been postponed several times.   
      
   sure dipstik...america is just bound to collapse because some pariah   
       state sets up a bourse....   
      
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   web site at www.abelard.org - news comment service, logic, economics   
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