'Intelligent discontent is the mainspring of civilization.' -- Eugene V. Debs

Monday, August 23, 2004

Iran Wins Iraq War 

So the AFP reports that the US's empire-mongering blood-spilling ways has been good for the old bottom line in Iran: (from "Iraq chaos boosting Iran's oil coffers", AFP)

Iran may want peace for Iraq, but the instability plaguing its war-ravaged neighbour suits the Islamic oil power's bottom line just fine - for now.

Concerns about the violence in Iraq and unabated demand sent New York's main oil contract soaring above US$49 (S$84) a barrel last Friday for the first time - and racing towards the symbolic US$50 mark.

'Given the increased revenues from crude exports, hiking oil prices will be to the benefit of Iran,' Oil Minister Bijan Namdar Zanganeh acknowledged last week.

'The higher the oil price, the more profitable oil industry development projects,' said Mr Zanganeh, whose country is the second-largest producer in the 11-member Organisation of Petroleum Exporting Countries (Opec) cartel and has claimed the No. 2 position in world crude reserves based on new oil discoveries.

According to the authorities, Iranian oil revenues totalled US$8 billion between March and July, a full US$1 billion more than forecast in the budget.

One wonders if Iran is considering trying some reverse psychology (ie. "American infidels, The Islamic Republic of Iran would be greatly offended if you would completely wreck the internal infrastructure of another oil producing nation -- maybe, I don't know, Venezuela...")

Link ripped from No Capital

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