Wednesday, February 27, 2008

Iran's Gazeuros, rather than Oileuros

Anyone following the ongoing fuel/economy struggle should read this article at the Asia Times.

Executive Summary:

  • Iran has access to a lot of gas that it wants to extract quickly. (Exaggerated figures claim Iran will grow from providing 1% of the world's gas to 10% in the next 20 years.)

  • Washington pressure (annoyingly, the article is light on details here - I guess it mainly means sanctions) prevents European gas companies and banks from hooking up with Iran. This just leaves Russia's Gazprom, who are already supplying 25% of Western Europe's gas.

  • Russia and Iran want the gassy equivalent of OPEC to be formed.

  • Thus, oil in non-dollars isn't an urgency (although could be the second of a double whammy). Gas in non-dollars is the current focus.

The whole thing reminds me of Naked Lunch, for some reason. Lucid nightmares, strange bed-time practices, monstrous systems of psychopathic control and, most of all, addiction as a necessity for survival. But not for the addicted.

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