RTH reader David recently sent me an interesting article from Bloomberg.
President George W. Bush's campaign to turn Iran into an economic pariah is being rebuffed from Spain to Malaysia as countries and companies pursue long-term agreements to tap into the world's second-largest reserves of oil and gas. ...
U.S. officials have issued explicit warnings against such deals and even threatened to use a 1996 law to levy penalties against foreign companies that do business both in the U.S. and in Iran, now subject to United Nations sanctions for refusing to halt its nuclear program.
Very interesting - oil companies sidestepping Bush's Iran sanctions. His lack of respect is becoming epidemic. It appears we are seeing a shift from economic support of the dollar debt, now to direct military support through bomb-manipulation of the oil markets assisting the Petrodollar Recycling System with the banker's-desired high oil prices - a double-edged sword since debt increases with this approach.
I'd add that oil companies rarely let political dogma get in the way of profitable investments. During the 1990s, when Dick Cheney was its CEO, Halliburton Oil Services maintained investments in Iraq's oil and civil infrastructure through foreign subsidiaries - despite the fact that it was illegal for an American company to do business in Iraq.
At the time, Cheney argued that the sanctions against Iraq were unfair ... to US companies wanting to do business there.
Thanks, David, for sharing an intriguing link.
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