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Syria-Lebanon-Iran

Iran would 'never' use oil as an economic weapon

2006-09-14

Iran's oil minister on Wednesday denounced suggestions that his country might use oil as an economic weapon as "baseless," reaffirming Teheran's commitment to supplying crude markets despite its standoff with the West over its suspect nuclear program. Kazem Vaziri Hamaneh told an OPEC conference in Vienna that Iran - the 11-nation cartel's No. 2 producer behind Saudi Arabia - kept its crude exports flowing even during its long war with Iraq in the 1980s and would not use its oil as a political lever now. "OPEC and Iran are committed to ensuring oil supplies," he said during a panel discussion.

Posted by:Fred

#9 "Iran would 'never' use oil as an economic weapon"

Translation: "Please don't destroy what little refining capacity we have and cut off our gasoline imports, infidel."

Posted by: Barbara Skolaut 2006-09-14 22:44

#8 Iran can't do any more about the price of gas than Bush.

Posted by: Nimble Spemble 2006-09-14 14:33

#7 Oil is 80% of their income

This, coupled with the fact that the Iranians import most of their gas, sounds rather like a strategic vulnerability. Makes you think that one of the last things the mad mullahs really want is to close the Straits of Hormuz.

As an aside, I propose we rename the Straits of Hormuz to the Straits of Hormel. Goes nicely with the Gulf of Rumsfeld, don't you think?

Posted by: SteveS 2006-09-14 14:15

#6 So, they were for it before they were against it? Sounds eerily familiar.

Posted by: xbalanke 2006-09-14 11:51

#5 Must be Coppertone sun tone, NOT "SUNBURN" missles
- D *** TREASONOUS FIFTH COLUMNIST SUN.

Posted by: JosephMendiola 2006-09-14 02:26

#4 I think the Saudis would be plenty happy with oil at, say $120/B, and Iranian production and export shut down while the Mad Mullahs are being over thrown. They'll just never admit it.

Would be worth the economic dislocation to take Iran out of the market.

Posted by: Classical_Liberal 2006-09-14 01:17

#3 Oil is 80% of their income anyone who really thought they were going to turn off the taps causing instant collapse of their economy risking revolution. All the while our gas prices go up what say 2bucks tops big deal so for a limited period of time we pay what the EU has been paying since time. All the while the US gets their cuasi belli.

It was a hollow bluff to begin with and now they are saving face Muslim style by coming out contradicting their previous statements while outright pretending the previous were just some exaggeration misunderstanding of the evil WEST.

The only way Iran would go with the oil weapon would be if the rest of OPEC played too then the pain on the West would be crippling.

Posted by: C-Low 2006-09-14 00:44

#2 Who gives a rip? They use their oil profits as a terrorist weapon and that's enough to get them a free ride on the decap machine.

Posted by: Zenster 2006-09-14 00:09

#1 Just talking about IT is enough to give the market shivers...Iranian Prez is masterly at jawboning crude higher and higher...

Posted by: borgboy 2006-09-14 00:06

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