US fomented 1953 coup to control Iran oil: William Beeman
Press TV
Aug 20, 2013
Press TV has conducted an interview with William Beeman, professor at University of Minnesota, about the US Central Intelligence Agency declassifying a document that confirms Washington’s role in the 1953 coup against the democratically-elected Iranian Prime Minister Mohammad Mosaddeq.
What follows is an approximate transcription of the interview.
Press TV: The released documents say the aim of the CIA operation was to cause the Mosaddeq government to fall. Just why did the CIA want to depose Mosaddeq?
Beeman: There were two reasons. The first reason had to do with the nationalization of oil. The United States and Great Britain were going to lose millions of dollars plus access to oil when the National Iranian Oil Company was nationalized by Mosaddeq.
Though the second reason is, however, for the United States. The United States was afraid and continued to be afraid all the way through the Carter administration that somehow Russia or the Soviet Union was going to invade Iran and push down to the Persian Gulf and gain a warm water port.
So the United States had to look right after World War II to the Soviet attempts to set up puppet states in Kurdistan and Azerbaijan and they were afraid that Mosaddeq was too weak to be able to withstand any kind of Soviet pressure.
So those were the two big reasons. One was control of oil and one was fear of the Soviet Union during the Cold War.
Press TV: Even now, the US government continues to allocate an annual budget for covert operations in Iran. How different are Washington’s aims today?
Beeman: Well they are a little bit different because there is no more Soviet Union. But there is no question that the United States is attempting to try to control politics within the Middle East.
There is still a faction within Washington that continually want regime change in Iran and there is also no question that the United States would like very much to have some kind of control over the petroleum market in Iran.
In this regard, the fear that Iran is somehow a danger to Israel is merely a way of trying to sell US interference in Iran to the rest of the world.
AHK/KA
(video property and courtesy of Press TV)
Showing posts with label oil. Show all posts
Showing posts with label oil. Show all posts
Tuesday, August 20, 2013
Friday, June 8, 2012
America imports more oil from Africa than Saudi Arabia
Now it seems it more like AFRI-'CON' than AFRICOM, don`t you think?
Africa and AFRICOM
[http://www.oilempire.us/africa.html] :
-a new front of the War of Terror
-the old grab for resources: oil, minerals, farmland
(from 2008) If Senator Obama is allowed to become President of the Oil Empire, look for US intervention in Africa to increase dramatically. The cover of the new "War on Terror" will be used to mask the grab for African oil and minerals.
This is probably the real goal of the recently created "Africa Command" (AFRICOM) military command.
The archives of (the now closed) From the Wilderness website at www.fromthewilderness.com have several excellent articles about Africa, geopolitics and the rush of the superpowers (US and China) to control African oil supplies.
www.fromthewilderness.com
[http://www.oilempire.us/africa.html] :
-the old grab for resources: oil, minerals, farmland
(from 2008) If Senator Obama is allowed to become President of the Oil Empire, look for US intervention in Africa to increase dramatically. The cover of the new "War on Terror" will be used to mask the grab for African oil and minerals.
This is probably the real goal of the recently created "Africa Command" (AFRICOM) military command.
The archives of (the now closed) From the Wilderness website at www.fromthewilderness.com have several excellent articles about Africa, geopolitics and the rush of the superpowers (US and China) to control African oil supplies.
www.fromthewilderness.com
Friday, March 23, 2012
Saudi Arabia and China building huge oil refinery and it barely makes news here in the U.S.,...the petrodollar is in real trouble
Saudi Arabia And China Team Up To Build A Gigantic New Oil Refinery - Is This The Beginning Of The End For The Petrodollar?
The Economic Collapse
March 23, 2012
The largest oil exporter in the Middle East has teamed up with the second largest consumer of oil in the world (China) to build a gigantic new oil refinery and the mainstream media in the United States has barely even noticed it. This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014. Over the past several years, China has sought to aggressively expand trade with Saudi Arabia, and China now actually imports more oil from Saudi Arabia than the United States does. In February, China imported 1.39 million barrels of oil per day from Saudi Arabia. That was 39 percent higher than last February. So why is this important? Well, back in 1973 the United States and Saudi Arabia agreed that all oil sold by Saudi Arabia would be denominated in U.S. dollars. This petrodollar system was adopted by almost the entire world and it has had great benefits for the U.S. economy. But if China becomes Saudi Arabia's most important trading partner, then why should Saudi Arabia continue to only sell oil in U.S. dollars? And if the petrodollar system collapses, what is that going to mean for the U.S. economy?
Those are very important questions, and they will be addressed later on in this article. First of all, let's take a closer look at the agreement reached between Saudi Arabia and China recently.
The following is how the deal was described in a recent China Daily article....
In what Riyadh calls "the largest expansion by any
oil company in the world", Sinopec's deal on
Saturday with Saudi oil giant Aramco will allow a
major oil refinery to become operational in the
Red Sea port of Yanbu by 2014.
The $8.5 billion joint venture, which covers an
area of about 5.2 million square meters, is already under construction. It will process
At a time when the U.S. is actually losing refining capacity, this is a stunning development.
Yet the U.S. press has been largely silent about this.
Very curious.
But China is not just doing deals with Saudi Arabia. China has also been striking deals with several other important oil producing nations. The following comes from a recent article by Gregg Laskoski....
China's investment in oil infrastructure and refining capacity is unparalleled. And more
importantly, it executes a consistent strategy of developing world-class refining facilities in
partnership with OPEC suppliers. Such relationships mean economic leverage that could
soon subordinate U.S. relations with the same countries.
Egypt is building its largest refinery ever with investment from China.
Shortly after the partnership with Egypt was announced, China signed a $23 billion
agreement with Nigeria to construct three gasoline refineries and a fuel complex in
Nigeria.
Essentially, China is running circles around the United States when it comes to locking up strategic oil supplies worldwide.
And all of these developments could have tremendous implications for the future of the petrodollar system.
If you are not familiar with the petrodollar system, it really is not that complicated. Basically, almost all of the oil in the world is traded in U.S. dollars. The origin of the petrodollar system was detailed in a recent article by Jerry Robinson....
In 1973, a deal was struck between Saudi Arabia and the United States in which every
barrel of oil purchased from the Saudis would be denominated in U.S. dollars. Under this
new arrangement, any country that sought to purchase oil from Saudi Arabia would be
required to first exchange their own national currency for U.S. dollars. In exchange for
Saudi Arabia's willingness to denominate their oil sales exclusively in U.S. dollars, the
United States offered weapons and protection of their oil fields from neighboring nations,
including Israel.
By 1975, all of the OPEC nations had agreed to price their own oil supplies exclusively in
U.S. dollars in exchange for weapons and military protection.
This petrodollar system, or more simply known as an "oil for dollars" system, created an
immediate artificial demand for U.S. dollars around the globe. And of course, as global oil
demand increased, so did the demand for U.S. dollars.
Once you understand the petrodollar system, it becomes much easier to understand why our politicians treat Saudi leaders with kid gloves. The U.S. government does not want to see anything happen that would jeopardize the status quo.
A recent article by Marin Katusa described some more of the benefits that the petrodollar system has had for the U.S. economy....
The "petrodollar" system was a brilliant political and economic move. It forced the world's
oil money to flow through the US Federal Reserve, creating ever-growing international
demand for both US dollars and US debt, while essentially letting the US pretty much own
the world's oil for free, since oil's value is denominated in a currency that America controls
and prints. The petrodollar system spread beyond oil: the majority of international trade is
done in US dollars. That means that from Russia to China, Brazil to South Korea, every
country aims to maximize the US-dollar surplus garnered from its export trade to buy oil.
The US has reaped many rewards. As oil usage increased in the 1980s, demand for the
US dollar rose with it, lifting the US economy to new heights. But even without economic
success at home the US dollar would have soared, because the petrodollar system
created consistent international demand for US dollars, which in turn gained in value. A
strong US dollar allowed Americans to buy imported goods at a massive discount – the
petrodollar system essentially creating a subsidy for US consumers at the expense of the
rest of the world. Here, finally, the US hit on a downside: The availability of cheap imports
hit the US manufacturing industry hard, and the disappearance of manufacturing jobs
remains one of the biggest challenges in resurrecting the US economy today.
So what happens if the petrodollar system collapses?
Well, for one thing the value of the U.S. dollar would plummet big time.
U.S. consumers would suddenly find that all of those "cheap imported goods" would rise in price dramatically as would the price of gasoline.
If you think the price of gas is high now, you just wait until the petrodollar system collapses.
In addition, there would be much less of a demand for U.S. government debt since countries would not have so many excess U.S. dollars lying around.
So needless to say, the U.S. government really needs the petrodollar system to continue.
But in the end, it is Saudi Arabia that is holding the cards.
If Saudi Arabia chooses to sell oil in a currency other than the U.S. dollar, most of the rest of the oil producing countries in the Middle East would surely do the same rather quickly.
And we have already seen countries in other parts of the world start to move away from using the U.S. dollar in global trade.
For example, Russia and China have agreed to now use their own national currencies when trading with each other rather than the U.S. dollar.
That got virtually no attention in the U.S. media, but it really was a big deal when it was announced.
A recent article by Graham Summers summarized some of the other moves away from the U.S. dollar in international trade that we have seen recently....
Indeed, officials from China, India, Brazil, Russia, and South Africa (the latest addition to
the BRIC acronym, now to be called BRICS) recently met in southern China to discuss
expanding the use of their own currencies in foreign trade (yet another move away from
the US Dollar).
To recap:
ending. The process will take time to unfold. But the Dollar will be finished as reserve
currency within the next five years.
Yes, the days of the U.S. dollar being the primary reserve currency of the world are definitely numbered.
It will not happen overnight, but as the U.S. economy continues to get weaker it is inevitable that the rest of the world will continue to question why the U.S. dollar should automatically have such a dominant position in international trade.
Over the next few years, keep a close eye on Saudi Arabia.
When Saudi Arabia announces a move away from the petrodollar system, that will be a major trigger event for the global financial system and it will be a really, really bad sign for the U.S. economy.
The level of prosperity that we are enjoying today would not be possible without the petrodollar system. Once the petrodollar system collapses, a lot of our underlying economic vulnerabilities will be exposed and it will not be pretty.
Tough times are on the horizon. It is imperative that we all get informed and that we all get prepared.
March 23, 2012
 |
| credit: InfoWars |
 |
| credit: TheEconomicCollapse |
The following is how the deal was described in a recent China Daily article....
In what Riyadh calls "the largest expansion by any
oil company in the world", Sinopec's deal on
Saturday with Saudi oil giant Aramco will allow a
major oil refinery to become operational in the
Red Sea port of Yanbu by 2014.
The $8.5 billion joint venture, which covers an
area of about 5.2 million square meters, is already under construction. It will process
At a time when the U.S. is actually losing refining capacity, this is a stunning development.
Yet the U.S. press has been largely silent about this.
Very curious.
But China is not just doing deals with Saudi Arabia. China has also been striking deals with several other important oil producing nations. The following comes from a recent article by Gregg Laskoski....
China's investment in oil infrastructure and refining capacity is unparalleled. And more
importantly, it executes a consistent strategy of developing world-class refining facilities in
partnership with OPEC suppliers. Such relationships mean economic leverage that could
soon subordinate U.S. relations with the same countries.
Egypt is building its largest refinery ever with investment from China.
Shortly after the partnership with Egypt was announced, China signed a $23 billion
agreement with Nigeria to construct three gasoline refineries and a fuel complex in
Nigeria.
Essentially, China is running circles around the United States when it comes to locking up strategic oil supplies worldwide.
And all of these developments could have tremendous implications for the future of the petrodollar system.
If you are not familiar with the petrodollar system, it really is not that complicated. Basically, almost all of the oil in the world is traded in U.S. dollars. The origin of the petrodollar system was detailed in a recent article by Jerry Robinson....
In 1973, a deal was struck between Saudi Arabia and the United States in which every
barrel of oil purchased from the Saudis would be denominated in U.S. dollars. Under this
new arrangement, any country that sought to purchase oil from Saudi Arabia would be
required to first exchange their own national currency for U.S. dollars. In exchange for
Saudi Arabia's willingness to denominate their oil sales exclusively in U.S. dollars, the
United States offered weapons and protection of their oil fields from neighboring nations,
including Israel.
By 1975, all of the OPEC nations had agreed to price their own oil supplies exclusively in
U.S. dollars in exchange for weapons and military protection.
This petrodollar system, or more simply known as an "oil for dollars" system, created an
immediate artificial demand for U.S. dollars around the globe. And of course, as global oil
demand increased, so did the demand for U.S. dollars.
Once you understand the petrodollar system, it becomes much easier to understand why our politicians treat Saudi leaders with kid gloves. The U.S. government does not want to see anything happen that would jeopardize the status quo.
A recent article by Marin Katusa described some more of the benefits that the petrodollar system has had for the U.S. economy....
The "petrodollar" system was a brilliant political and economic move. It forced the world's
oil money to flow through the US Federal Reserve, creating ever-growing international
demand for both US dollars and US debt, while essentially letting the US pretty much own
the world's oil for free, since oil's value is denominated in a currency that America controls
and prints. The petrodollar system spread beyond oil: the majority of international trade is
done in US dollars. That means that from Russia to China, Brazil to South Korea, every
country aims to maximize the US-dollar surplus garnered from its export trade to buy oil.
The US has reaped many rewards. As oil usage increased in the 1980s, demand for the
US dollar rose with it, lifting the US economy to new heights. But even without economic
success at home the US dollar would have soared, because the petrodollar system
created consistent international demand for US dollars, which in turn gained in value. A
strong US dollar allowed Americans to buy imported goods at a massive discount – the
petrodollar system essentially creating a subsidy for US consumers at the expense of the
rest of the world. Here, finally, the US hit on a downside: The availability of cheap imports
hit the US manufacturing industry hard, and the disappearance of manufacturing jobs
remains one of the biggest challenges in resurrecting the US economy today.
So what happens if the petrodollar system collapses?
Well, for one thing the value of the U.S. dollar would plummet big time.
U.S. consumers would suddenly find that all of those "cheap imported goods" would rise in price dramatically as would the price of gasoline.
If you think the price of gas is high now, you just wait until the petrodollar system collapses.
In addition, there would be much less of a demand for U.S. government debt since countries would not have so many excess U.S. dollars lying around.
So needless to say, the U.S. government really needs the petrodollar system to continue.
But in the end, it is Saudi Arabia that is holding the cards.
If Saudi Arabia chooses to sell oil in a currency other than the U.S. dollar, most of the rest of the oil producing countries in the Middle East would surely do the same rather quickly.
And we have already seen countries in other parts of the world start to move away from using the U.S. dollar in global trade.
For example, Russia and China have agreed to now use their own national currencies when trading with each other rather than the U.S. dollar.
That got virtually no attention in the U.S. media, but it really was a big deal when it was announced.
A recent article by Graham Summers summarized some of the other moves away from the U.S. dollar in international trade that we have seen recently....
Indeed, officials from China, India, Brazil, Russia, and South Africa (the latest addition to
the BRIC acronym, now to be called BRICS) recently met in southern China to discuss
expanding the use of their own currencies in foreign trade (yet another move away from
the US Dollar).
To recap:
- China and Russia have removed the US Dollar from their trade
- China is rushing its trade agreement with Brazil
- China, Russia, Brazil, India, and now South Africa are moving to trade more in their own currencies (not the US Dollar)
- Saudi Arabia is moving to formalize trade with China and Russia
- Singapore is moving to trade yuan
ending. The process will take time to unfold. But the Dollar will be finished as reserve
currency within the next five years.
Yes, the days of the U.S. dollar being the primary reserve currency of the world are definitely numbered.
It will not happen overnight, but as the U.S. economy continues to get weaker it is inevitable that the rest of the world will continue to question why the U.S. dollar should automatically have such a dominant position in international trade.
Over the next few years, keep a close eye on Saudi Arabia.
When Saudi Arabia announces a move away from the petrodollar system, that will be a major trigger event for the global financial system and it will be a really, really bad sign for the U.S. economy.
The level of prosperity that we are enjoying today would not be possible without the petrodollar system. Once the petrodollar system collapses, a lot of our underlying economic vulnerabilities will be exposed and it will not be pretty.
Tough times are on the horizon. It is imperative that we all get informed and that we all get prepared.
Thursday, March 22, 2012
North America set to be the next Middle East...will that set the stage for future interventions with oil consumers as the U.S. currently now does against Persian gulf nations?
North America has the potential to be energy world's next Middle East, report argues
North America's energy sector has the potential to drive a "remarkable resurgence" that could see the Continent become the new Middle East in shaping the global supply of gas and oil, a new report has claimed.
The Telegraph
By Richard Blackden
Mar 22, 2012; 4:29PM GMT
Deepwater drilling in the Gulf of Mexico, tapping shale deposits for gas and oil and Canada's oil sands are among the ingredients that could see North America's production of oil and natural gas liquids almost double to 26.6m barrels a day by 2020, according to a report by analysts at Citigroup.
"The energy sector in the next few decades could drive an extraordinary and timely revitalisation and reindustralisation of the US economy," the 80-page report said.
The vexed question of America's future energy needs and how to meet them has dominated the battle for The White House in recent weeks, as the Republican challengers blame President Barack Obama for the recent rise in petrol prices.
Experts say the subject is also gaining political traction among both Republicans and Democrats because the US is at an important crossroads on its future energy policy. 2011 was the first year since 1949 that the country exported more petroleum products than it imported.
Some of that was down to new supply, but declining domestic demand also played a role. US oil demand fell to 18.8m barrels a day last year, down almost 10pc from 2005, according to the Energy Department. The report predicts that the declining US demand for petroleum products, driven largely by the downturn, will continue as fuel efficient technologies are more widely adopted.
That, too, could contribute to making North America the pivotal player in shaping global supply. "The growing Continental surplus of hydrocarbons points to North America effectively becoming the new Middle East by the next decade," the report argues.
Its authors stress that the scenario it paints is one that could happen, rather than one that will. But they add that a reshaping of the America's position in the energy chain would have wider economic benefits, with up to 3.6m new jobs created.
The question of America's energy policy is not an exclusively economic one, with concerns over the environment and the wider role of government featuring heavily in the debate in the US.
"With political gridlock in Washington precariously high, it remains unlikely that a comprehensive energy policy will be achieved in the near future," the report says.
The Telegraph
By Richard Blackden
Mar 22, 2012; 4:29PM GMT
 |
| A natural gas drilling rig in the Antrim Shale field of northern Michigan. Photo: ALAMY |
"The energy sector in the next few decades could drive an extraordinary and timely revitalisation and reindustralisation of the US economy," the 80-page report said.
The vexed question of America's future energy needs and how to meet them has dominated the battle for The White House in recent weeks, as the Republican challengers blame President Barack Obama for the recent rise in petrol prices.
Experts say the subject is also gaining political traction among both Republicans and Democrats because the US is at an important crossroads on its future energy policy. 2011 was the first year since 1949 that the country exported more petroleum products than it imported.
Some of that was down to new supply, but declining domestic demand also played a role. US oil demand fell to 18.8m barrels a day last year, down almost 10pc from 2005, according to the Energy Department. The report predicts that the declining US demand for petroleum products, driven largely by the downturn, will continue as fuel efficient technologies are more widely adopted.
That, too, could contribute to making North America the pivotal player in shaping global supply. "The growing Continental surplus of hydrocarbons points to North America effectively becoming the new Middle East by the next decade," the report argues.
Its authors stress that the scenario it paints is one that could happen, rather than one that will. But they add that a reshaping of the America's position in the energy chain would have wider economic benefits, with up to 3.6m new jobs created.
The question of America's energy policy is not an exclusively economic one, with concerns over the environment and the wider role of government featuring heavily in the debate in the US.
"With political gridlock in Washington precariously high, it remains unlikely that a comprehensive energy policy will be achieved in the near future," the report says.
Thursday, March 1, 2012
Cuba gets ready to tap it`s estimated 5 billion barrels of oil, raising sentiment in the U.S.
Sheikh Fidel: Cuba drills for oil – U.S. complaining about potential spills
A recent U.S. Geological Survey says there could be 5 billion barrels of undiscovered oil reserves in the north Cuba basin. As Cuba finally taps its oil reserves, the U.S. claim they are ‘unprepared for spill’
William Booth
Washington Post
March 1, 2012 4:59am
As energy companies from Spain, Russia and Malaysia line up to drill for oil in Cuban waters 60 miles from the Florida Keys, U.S. agencies are struggling to cobble together emergency plans to protect fragile reefs, sandy beaches and a multibillion-dollar tourism industry in the event of a spill.
Drawing up contingency plans to confront a possible spill is much more difficult because of the economic embargo against Cuba. U.S. law bars most American companies — including oil services and spill containment contractors — from conducting business with the communist island. The embargo, now entering its 50th year, also limits direct government-to-government talks.
In the vacuum, a Coast Guard admiral in Miami and a dozen technocrats from Cuba and the United States have begun to quietly engage in an awkward partnership of necessity to protect their coastlines, separated by politics but united by the mighty Gulf Stream.
“This is a case of Cold War ideology colliding with 21st-century environmental policy, and it is the environment that is at risk,” said Lee Hunt, president of the International Association of Drilling Contractors.
...
5 billion barrels
Last month, Repsol, a Spanish oil and gas company, using a state-of-the-art, Norwegian-designed, Chinese-built, semi-submersible rig called Scarabeo 9, began drilling the first in a series of deep-water exploratory wells in the Florida Straits, at a cost of $500,000 a day.
According to a 2004 study by the U.S. Geological Survey, there could be 5 billion barrels of undiscovered oil reserves in the north Cuba basin. While some U.S. lawmakers might not like it, Cuba has every right to drill for oil in its own waters.
Congressional Republicans representing Cuban American communities in Florida say the Obama administration should have imposed sanctions and threatened foreign companies such as Repsol from doing business in Cuba.
...
(click here to read the full article)
A recent U.S. Geological Survey says there could be 5 billion barrels of undiscovered oil reserves in the north Cuba basin. As Cuba finally taps its oil reserves, the U.S. claim they are ‘unprepared for spill’
Washington Post
March 1, 2012 4:59am
 |
DESMOND BOYLAN/REUTERS - A Chinese-built drilling rig known as Scarabeo 9 is seen off the coast of Havana in January. Spanish oil company Repsol YPF has begun drilling the first well in Cuba's long-awaited exploration of offshore oilfields.
|
Drawing up contingency plans to confront a possible spill is much more difficult because of the economic embargo against Cuba. U.S. law bars most American companies — including oil services and spill containment contractors — from conducting business with the communist island. The embargo, now entering its 50th year, also limits direct government-to-government talks.
 |
| Jorge R Pinon/Washington Post |
“This is a case of Cold War ideology colliding with 21st-century environmental policy, and it is the environment that is at risk,” said Lee Hunt, president of the International Association of Drilling Contractors.
...
5 billion barrels
Last month, Repsol, a Spanish oil and gas company, using a state-of-the-art, Norwegian-designed, Chinese-built, semi-submersible rig called Scarabeo 9, began drilling the first in a series of deep-water exploratory wells in the Florida Straits, at a cost of $500,000 a day.
According to a 2004 study by the U.S. Geological Survey, there could be 5 billion barrels of undiscovered oil reserves in the north Cuba basin. While some U.S. lawmakers might not like it, Cuba has every right to drill for oil in its own waters.
Congressional Republicans representing Cuban American communities in Florida say the Obama administration should have imposed sanctions and threatened foreign companies such as Repsol from doing business in Cuba.
...
(click here to read the full article)
Wondered why Somalia`s name has come up so much recently in the news? Because of OIL!
Hmmm...after the global powers massively over-fished Somalia`s fish population and dumped metric tons of toxic pollutants into their coastal waters to ultimately forcing them to piracy - the globalists now seek to suck dry and exploit their last natural resource of black gold.
Britain eyeing share in Somalia's future energy industry
Press TV
Tue Feb 28, 2012 3:48PM GMT
British media say the government’s move to offer humanitarian aid and security assistance to Somalia is aimed at winning a stake in country's future energy industry.
In a report published Saturday, The Guardian revealed Britain’s involvement in a secret high-stakes dash for oil in Somalia.
Somalia, a former British colony, has been suffering decades of conflict and is known as a hotbed of piracy plaguing international shipping in the Indian Ocean.
In early February, British Foreign Secretary William Hague paid an unannounced visit to Somalia to become the first British Foreign Secretary to visit Mogadishu in almost two decades.
He also appointed Matt Baugh as Britain's first ambassador to war-torn Somalia, which he described the country as "the world's most failed state."
Last week, UK Prime Minister David Cameron hosted an international conference on Somalia where he pledged more aid, financial help and measures to fight terrorism in the African nation.
The Guardian report, however, described the summit as talks between British officials and Somali counterparts over exploiting intact oil reserves in the arid northeastern part of Somalia.
"We have spoken to a number of UK officials, some have offered to help us with the future management of oil revenues. They will help us build our capacity to maximize future earnings from the oil industry," the report cited Abdulkadir Abdi Hashi, the minister for international cooperation in the autonomous Puntland region, as saying.
Puntland is an region in northeastern Somalia, where the first oil is expected to be extracted next month.
Experts say London’s involvement in the future Somali oil industry could prop up the UK’s weakened economy, at a time it has resorted to austerity measures to avoid a budget deficit.
Somali Prime Minister Abdiweli Mohamed Ali said his government had almost no other choice but to persuade Western companies to invest and operate in Somalia by offering a portion of the country's plentiful resources of oil and gas and large reserves of uranium.
Britain's efforts to develop Somalia's natural resources continue while the Canadian company Africa Oil started oil exploration in Puntland in January, the first drilling in Somalia for 21 years.
Chinese and US firms have reportedly also voiced interest about the potential for oil as the country sounds safe enough to drill after two decades of unrelenting war.
MRS/JR/IS
Additional Readings:
Somalia promises west oil riches as diplomats vow to defeat al-Shabaab
3 die in Mogadishu stadium bombing
Scores killed in US drone attack in Somalia
Heavy clashes claim 25 lives in south Somalia
Britain eyeing share in Somalia's future energy industry
Press TV
Tue Feb 28, 2012 3:48PM GMT
 |
British Prime Minister David Cameron (center) opens the Somalia
Conference at Lancaster House in London on 02/23/12. Credit: PressTV
|
In a report published Saturday, The Guardian revealed Britain’s involvement in a secret high-stakes dash for oil in Somalia.
Somalia, a former British colony, has been suffering decades of conflict and is known as a hotbed of piracy plaguing international shipping in the Indian Ocean.
In early February, British Foreign Secretary William Hague paid an unannounced visit to Somalia to become the first British Foreign Secretary to visit Mogadishu in almost two decades.
He also appointed Matt Baugh as Britain's first ambassador to war-torn Somalia, which he described the country as "the world's most failed state."
Last week, UK Prime Minister David Cameron hosted an international conference on Somalia where he pledged more aid, financial help and measures to fight terrorism in the African nation.
The Guardian report, however, described the summit as talks between British officials and Somali counterparts over exploiting intact oil reserves in the arid northeastern part of Somalia.
"We have spoken to a number of UK officials, some have offered to help us with the future management of oil revenues. They will help us build our capacity to maximize future earnings from the oil industry," the report cited Abdulkadir Abdi Hashi, the minister for international cooperation in the autonomous Puntland region, as saying.
Puntland is an region in northeastern Somalia, where the first oil is expected to be extracted next month.
Experts say London’s involvement in the future Somali oil industry could prop up the UK’s weakened economy, at a time it has resorted to austerity measures to avoid a budget deficit.
Somali Prime Minister Abdiweli Mohamed Ali said his government had almost no other choice but to persuade Western companies to invest and operate in Somalia by offering a portion of the country's plentiful resources of oil and gas and large reserves of uranium.
Britain's efforts to develop Somalia's natural resources continue while the Canadian company Africa Oil started oil exploration in Puntland in January, the first drilling in Somalia for 21 years.
Chinese and US firms have reportedly also voiced interest about the potential for oil as the country sounds safe enough to drill after two decades of unrelenting war.
MRS/JR/IS
Additional Readings:
Somalia promises west oil riches as diplomats vow to defeat al-Shabaab
3 die in Mogadishu stadium bombing
Scores killed in US drone attack in Somalia
Heavy clashes claim 25 lives in south Somalia
Wednesday, February 1, 2012
Current U.S.-Iran Tensions: Is there more than meets the eye...again? Reminiscent of Iraq and Libya...
Here we go again, are we that naive to think that yet again the current tensions with Iran is really about 'nukes'? Come on, it all about the precious black gold we call OIL, its always about oil. In 2000, Saddam Hussein of Iraq wanted to turn away from trading oil in U.S. dollars to euros instead. Of course that wouldn`t be allowed to befall the powerful dollar and he was subsequently attacked and removed in 2003. In 2011, Col Muammar Ghadafi of Libya envisioned to create a new Gold dinar currency, a currency that would be backed by gold, inevitably rivaling the dollar and euro and allow Ghadafi to re-price oil. It would have had serious consequences for the world financial system - i.e. the world elite, even though it would have empowered the people of Africa for once in their lives and not be dictated by the global powers into debt slaves and destitute.
Petrodollar pumping US policy on Iran, backfire looms
by: Michael T. Winter
RT News
published: 01 February, 2012, 20:18
As tensions between the US and Iran heat up, author Michael T. Winter believes the main reason behind America’s harsh stance is Tehran’s move to seek an alternative to the dollar as an oil currency.
Economic sanctions, spearheaded by the US and, less willingly, the EU could have a disastrous effect on both of their respective economies. If Iran cannot sell their oil to Europe, there are plenty of customers waiting in the wings, and if they come bearing not petrodollars, but gold and sovereign currencies, then all the better for Iran. These sanctions, if enforced, will in effect place a serious dent in the power of the petrodollar.
...At the heart of the issue is not Iran’s dubious attempt to build nuclear weapons, or even oil, but how that oil is paid for. In 1973, Richard Nixon promised King Faisal of Saudi Arabia that the US would protect Saudi Arabian oilfields from any and all interested parties seeking to forcefully wrest them from the House of Saud. It’s important to remember that in 1973, Saudi Arabia didn’t have a fraction of the military and ground forces it possesses today (almost exclusively US manufactured weapons) and the USSR was very much a threat.
In return Saudi Arabia, and by extension OPEC, agreed to sell their oil in US dollars only. As if that weren’t sweet enough, as part of the deal, they were required to invest their profits in US treasuries, bonds and bills. The real zinger is that all countries purchasing oil from OPEC had to do so in US dollars, or ‘petrodollars’.
...2001, enter Saddam Hussein. He floated a plan to sell oil for European currencies in lieu of petrodollars. Shortly after Iraq was ‘suddenly’ found to be seeking and stockpiling weapons of mass destruction – allegations spearheaded by the US. The world knows what happened, suffice it to say that Saddam is dead and Iraq is ‘back on track’, selling its oil for petrodollars once again.
...Gaddafi made a fatal error when he decided to move away from the petrodollar in favor of other currencies. This simply was not tolerated by the US. Having already played the WMD card in Iraq, something new was pulled from the US ‘regime change’ grab bag. Within a year, ‘internal’ elements rose up in rebellion against Gaddafi and now he is dead. Long live the petrodollar.
Dominique Strauss-Kahn, former head of the International Monetary Fund (IMF), suggested last year that the Euro would be a more suitable oil reserve currency than the US Dollar. Within three months of that statement, allegations of rape ruined his career, derailing his bid for the French Presidency in the process. Soon thereafter, all charges were dropped, but of course, le dommage était fait – the damage was done. Christine Lagarde, DSK’s replacement as head of the IMF sees no reason to change the current arrangement, naturellement.
The Iran situation is a little trickier. The US has sought to dismantle Iran’s regime ever since the 1979 Iranian Revolution, so this round of hostilities, while not new, reflects a new level of intensity. Why, after thirty years of hostility, has the US ratcheted up its rhetoric? As Obama stated in his recent State of the Union address, when it comes to Iran and the insistence they dismantle their nuclear program, “no options are off the table”. By stating ‘no options’ this would include nuclear deployment as a deterrent.
The answer of course is that Iran is now seeking to disengage itself from the petrodollar dynamic. In 2005, Iran sought to create an Iranian Oil Exchange, thus bypassing the US controlled petrodollar. Fear that western powers would freeze accounts in European and London banks put an end to that plan.
...Iran is breaking the back of the petrodollar. Others have tried, but Iran is succeeding. To understand how disastrous this is for the US, one must have a basic understanding of how critical a role the petrodollar plays in the economic health of the US.
...By creating the petrodollar paradigm, the US economy soared, as all countries of the world were required to amass US currency to purchase oil from OPEC nations. Sales of T-bills, securities and US bonds soared. US coffers fattened. With the US dollar as the world’s oil currency reserve, economic fortune favored the US. But with great reward comes great risk. While other countries exchanged their currency for the dollar, (forfeiting value in the process) the US simply printed more money to match their needs and purchase their oil – essentially for free. The best example is that while gasoline in the US cost $3.00 per gallon, in Europe that same gallon costs $6.00 or more.
Herein lies the danger. If Iran is successful in its bid to set up their own bourse, or oil exchange, then what need does the world have for all those US dollars? The answer is none at all. As Iran creating gold and sovereign currency partnerships with India, China, South Korea and Russia, the hegemony of the petrodollar will be destroyed.
The resulting sell-off of US dollars, T-bills, securities, bonds and assets will flood the already swollen world economy with even more useless dollars, ultimately devaluing it into a position where hyper-inflation becomes a risk.
So, while the US government sabre-rattles and prattles on and on about nuclear weapons and the threat Iran poses to the Middle East, the thin veneer of lies spouted by the elite controlled media is being stripped away, revealing the truth of their warmongering rhetoric.
...The US, by their foolish insistence on enforcing embargoes and sanctions against Iran, is hastening the end of the petrodollar and ushering in the age of US dollar hyper-inflation. A practical example: One loaf of bread in a healthy economy is $1.00. In an inflationary economy it’s $1.75. In a hyper-inflationary economy, $500.00.
Bullies may be large and dangerous, but rarely are they intelligent.
Damocles wisely vacated the throne of Dionysius before the sword fell upon his head, but the US is foolishly refusing to step down from their economic dais in spite of the catastrophic effect current policy direction will mean for US citizens and the world economy.
Michael T. Winter
The statements, views and opinions expressed in this article are solely those of the author and do not necessarily represent those of RT.
(click here to read the full article by Michael Winter)
Additional info:The Real Reasons Why Iran is the Next Target: The Emerging Euro-denominated International Oil Marker
by William Clark
www.globalresearch.ca
 |
| An oil field near Pol-e-Dokhtar, Iran; credit: RT News |
by: Michael T. Winter
RT News
published: 01 February, 2012, 20:18
As tensions between the US and Iran heat up, author Michael T. Winter believes the main reason behind America’s harsh stance is Tehran’s move to seek an alternative to the dollar as an oil currency.
Economic sanctions, spearheaded by the US and, less willingly, the EU could have a disastrous effect on both of their respective economies. If Iran cannot sell their oil to Europe, there are plenty of customers waiting in the wings, and if they come bearing not petrodollars, but gold and sovereign currencies, then all the better for Iran. These sanctions, if enforced, will in effect place a serious dent in the power of the petrodollar.
...At the heart of the issue is not Iran’s dubious attempt to build nuclear weapons, or even oil, but how that oil is paid for. In 1973, Richard Nixon promised King Faisal of Saudi Arabia that the US would protect Saudi Arabian oilfields from any and all interested parties seeking to forcefully wrest them from the House of Saud. It’s important to remember that in 1973, Saudi Arabia didn’t have a fraction of the military and ground forces it possesses today (almost exclusively US manufactured weapons) and the USSR was very much a threat.
In return Saudi Arabia, and by extension OPEC, agreed to sell their oil in US dollars only. As if that weren’t sweet enough, as part of the deal, they were required to invest their profits in US treasuries, bonds and bills. The real zinger is that all countries purchasing oil from OPEC had to do so in US dollars, or ‘petrodollars’.
...2001, enter Saddam Hussein. He floated a plan to sell oil for European currencies in lieu of petrodollars. Shortly after Iraq was ‘suddenly’ found to be seeking and stockpiling weapons of mass destruction – allegations spearheaded by the US. The world knows what happened, suffice it to say that Saddam is dead and Iraq is ‘back on track’, selling its oil for petrodollars once again.
...Gaddafi made a fatal error when he decided to move away from the petrodollar in favor of other currencies. This simply was not tolerated by the US. Having already played the WMD card in Iraq, something new was pulled from the US ‘regime change’ grab bag. Within a year, ‘internal’ elements rose up in rebellion against Gaddafi and now he is dead. Long live the petrodollar.
Dominique Strauss-Kahn, former head of the International Monetary Fund (IMF), suggested last year that the Euro would be a more suitable oil reserve currency than the US Dollar. Within three months of that statement, allegations of rape ruined his career, derailing his bid for the French Presidency in the process. Soon thereafter, all charges were dropped, but of course, le dommage était fait – the damage was done. Christine Lagarde, DSK’s replacement as head of the IMF sees no reason to change the current arrangement, naturellement.
The Iran situation is a little trickier. The US has sought to dismantle Iran’s regime ever since the 1979 Iranian Revolution, so this round of hostilities, while not new, reflects a new level of intensity. Why, after thirty years of hostility, has the US ratcheted up its rhetoric? As Obama stated in his recent State of the Union address, when it comes to Iran and the insistence they dismantle their nuclear program, “no options are off the table”. By stating ‘no options’ this would include nuclear deployment as a deterrent.
The answer of course is that Iran is now seeking to disengage itself from the petrodollar dynamic. In 2005, Iran sought to create an Iranian Oil Exchange, thus bypassing the US controlled petrodollar. Fear that western powers would freeze accounts in European and London banks put an end to that plan.
The resulting sell-off of US dollars, T-bills, securities, bonds and assets will flood the already swollen world economy with even more useless dollars, ultimately devaluing it into a position where hyper-inflation becomes a risk.
So, while the US government sabre-rattles and prattles on and on about nuclear weapons and the threat Iran poses to the Middle East, the thin veneer of lies spouted by the elite controlled media is being stripped away, revealing the truth of their warmongering rhetoric.
...The US, by their foolish insistence on enforcing embargoes and sanctions against Iran, is hastening the end of the petrodollar and ushering in the age of US dollar hyper-inflation. A practical example: One loaf of bread in a healthy economy is $1.00. In an inflationary economy it’s $1.75. In a hyper-inflationary economy, $500.00.
Damocles wisely vacated the throne of Dionysius before the sword fell upon his head, but the US is foolishly refusing to step down from their economic dais in spite of the catastrophic effect current policy direction will mean for US citizens and the world economy.
Michael T. Winter
The statements, views and opinions expressed in this article are solely those of the author and do not necessarily represent those of RT.
(click here to read the full article by Michael Winter)
by William Clark
www.globalresearch.ca
Tuesday, January 24, 2012
Using gold to buy crude oil?...you betcha
| Numismaticassets |
India and China do not support and refuse to join the sanctions. Russia, already announced in a bilateral meeting they would implement bilateral trade using their domestic national currencies instead of the dollar. Russia already uses their rouble for trade with China
Now this would severely hurt what the U.S. and EU sanctions and oil embargo are trying to do. Just this past Monday, the EU announced an oil embargo against Iran. Oil is priced in US dollars, and bypassing the greenback will pose challenges for both parties. This will certainly push the price of gold high, especially as large sums of gold are involved in such oil transactions, and that would hurt the value of the dollar especially at a time like this.
RT News (24 Jan 2012): India pays gold for Iranian Oil:
RT News: Priya Sridhar (24 Jan 2012)
Source: Sanctions dodge: India to pay gold for Iran oil, China may follow (RT News), 24 Jan 2012
Saturday, July 2, 2011
Draining Tripoli of Oil May Signal End for Qaddafi
Rebels cutting-off the oil pipeline to Tripoli may lead to a final decisive end phase to the Libyan conflict
Tripoli pipeline attack 'endgame' for Qaddafi
June 29, 2011
Sources inside Libya have confirmed a Reuters news agency report last week that rebels had severed the pipeline that connects the Awbari oilfield in southern Libya to the Az-Zawiya refinery outside Tripoli.
A spokesman from the Benghazi-based rebel Interim National Council is quoted as saying that the aim is to "drain Tripoli".
There are also suggestions that anti-Gaddafi forces have managed to cut the gas pipeline used for power generation in Tripoli.
The Az-Zawiya refinery is still working, which suggests there is a store of crude oil to supply the Libyan capital. However, it is thought only to be producing at one-third capacity at present.
John Hamilton, contributing editor for African Energy, believes this could represent the start of the endgame for Colonel Gaddafi and his supporters.
"If you take the view that the rebels can't defeat Gaddafi militarily by invading Tripoli, and that Nato can't defeat him from the air, then the only option is to...
Related info:
Fuel shortage may undo Qaddafi -SpaceWar
Rebel stranglehold will ‘drain’ Tripoli of fuel, leading the Libyan conflict closer to resolution - African-EnergyWednesday, June 15, 2011
Real Truth Reporting From the Ground in Libya
'Libyan War Driven by O.I.L.: Oil, Israel & Logistics' - McKinney to RT News
June 15, 2011
As NATO attacks continue in Libya, ex US Congresswoman and former presidential candidate Cynthia McKinney went to the country on a non-governmental fact-finding mission to see what exactly is going on in the war-torn country. Cynthia McKinney believes the bombardments of Libyan cities and other measures taken by NATO, causing civilian casualties, represent the idea of “collective punishment”.
Report from Tripoli: More NATO "Humanitarian Intervention": The Bombing of Al-Fateh University, Campus B
Cynthia McKinney
Global Research
June 15, 2011
June 15, 2011
Since coming to Tripoli to see first hand the consequences of the NATO military operations, it has become clear to me that despite the ongoing silence of the international press on the ground here in Libya, there is clear evidence that civilian targets have been hit and Libyan civilians injured and killed.
This Tuesday morning I was taken from my hotel across the city through its bustling traffic to the Al Fateh University.
On 9 June, Dean Ali Mansur was outside in the parking lot. The sky was blue like Carolina blue. The clouds were white–no chemtrails in sight. Puffy and white. Dean Mansur was visibly upset. It seems that some of the young men at Al Fateh University, Campus B were fighting over girls. He explained to me that Libyans are hot blooded. With a gleam in his eye, he whispered to me that girls are important to young men.
Yes, that was clearly evident today as I approached the campus of Al Fateh University, Campus B, formerly known as Nasser University. Under the trees, throughout the lawn as we approached the campus gates, I could see young men and women talking to each other, talking on cell phones, walking to and fro, assembled, probably talking about the latest campus news–whatever that might be. Today, on the Al Fateh campus, life was teeming. Student life seemed vibrant. This feel and ambiance of this university was not unlike the hundreds of other universities that I have visited in the US and around the world.
Libyan boys and girls are like ours. My son would easily fit into the life of this university....
"NATO bombs civilians!" - Cynthia McKinney Reports from Tripoli
June 14, 2011
Former US congresswoman and presidential candidate Cynthia McKinney told RT she went to Libya because she wanted to know the truth.
Thursday, April 14, 2011
Conflict in LIbya: What is this War Really About?
Is this really about the 'people' in Libya as the world powers claim or something more we all are just not focusing on?
Read Ellen Brown`s piece: Libya: All About Oil or All About Banking?
Forward from InfoWars posting Ellen Brown`s article:
Note: As Ellen Brown writes in the following article, the war against Libya is not about Gaddafi’s treatment of protesters – it is about banking. Gaddafi refuses to play by the rules banksters impose on most of the rest of the world. Obama’s illegal war is also a continuation of the PNAC era plan to destroy Arab culture and force Muslims back into the stone age. Like Iraq before Bush Senior’s illegal invasion, Libya has an excellent health care system – thanks to its oil riches – and a remarkable civilian infrastructure for an African nation. Globalists and the neocon faction hate this and plan to turn Libya into a social and economic basket case like they did to Iraq, killing 1.5 million Iraqis in the process. The humanitarian chant we hear day in and day out in the corporate media is merely a thinly disguised pretense and cover for mass murder and destruction. –Kurt Nimmo
Read also Jack A. Smith`s article: The U.S.-NATO War Against Libya: America`s Fake Commitment to 'Democracy'
Excerpts:
...What's the real meaning of Operation Odyssey Dawn, the U.S. code name for this latest act of western military aggression against a small Muslim country? Why is Libya's leader, Col. Muammar Gaddafi, suddenly being used to deflect world attention from the uprisings to US-NATO support of "democracy" in Libya and the "rescue" of its people?"...The Obama Administration and its British and French allies are frantically attempting to construct a viable puppet opposition to the Libyan government while they attack loyalist regions following the March 17 UN Security Council decision to establish a no-fly zone over Libya..."Washington did not succeed in toppling the Gaddafi government [in the 1980s-90s] but Libya did indeed go through 'regime change.' The regime itself shifted its domestic and international policies. It moved steadily to the right. In the last decade, it has adopted a variety of neoliberal reforms, embraced and collaborated with the Bush administration’s so-called war on terror, increasingly exported Libyan resources to invest in Italian corporations and banks, while becoming politically friendly with Italy's right-wing government of Silvio Berlusconi, and opened Libyan oil business to BP...The well being of Libya's people measures 0.755, the highest in Africa and a bit higher that of the much wealthier oil kingdom of Saudi Arabia, which measures 0.752. Annual per capita income is about $15,000. Over the past 30 years, Libya has steadily increased its welfare programs and standards of living to graduate into the UN's "High Human Development” category, another first in Africa. Urban areas are fairly modern. Education and healthcare are free. Agriculture is subsidized. For lower income families the government subsidizes food, electricity, water, and transportation....Col. Gaddafi is the perfect target, having been demonized by the West for decades as an authoritarian, and at times displaying character traits suggesting megalomania and instability. The American people were indoctrinated to hate him many years ago, so U.S. public opinion was already prepared for regime change. It was the same with Iraqi President Saddam Hussein in 2003, or Yugoslav President Slobodan Miloseviç in 1999, among many others. Demonize first, exaggerate second, attack third...Then on April 3, longtime analyst Michel Chossudovsky wrote on the Global Research website:
"There are various factions within the Libyan opposition: Royalists, defectors from the Gaddafi regime including the Minister of Justice and more recently the Foreign Minister, Moussa Moussa, members of the Libyan Armed Forces, the National Front for the Salvation of Libya (NFSL) and the National Conference for the Libyan Opposition (NCLO) which acts as an umbrella organization.
"Rarely acknowledged by the Western media, the Libya Islamic Fighting Group (LIFG - Al-Jamaa al-Islamiyyah al-Muqatilah bi Libya), is an integral part of the Libyan Opposition. The LIGF, which is aligned with al-Qaeda, is in the frontline of the armed insurrection."
Chossudovsky, an Emeritus Professor of Economics at Ottawa University, and director of Montreal's Centre for Research on Globalization, notes that the paramilitary LIFG was founded in Afghanistan by veteran Libyan Mujahedeens of the Soviet-Afghan war.... There are contradictory reports as to whether the LIFG is part of Al Qaeda or is acting as an independent jihadist entity. One report suggests that in 2007 the LIFG became 'a subsidiary of al Qaeda, later assuming the name of Al Qaeda in the Islamic Maghreb (AQIM).'"
During its lifetime, "The LIFG was supported not only by the CIA and The British Secret Intelligence Service but also by factions within Libya's intelligence agency, led by former intelligence head and Foreign Minister Moussa Koussa, who defected to the United Kingdom in late March 2011." The full article is at http://www.globalresearch.ca/index.php?context=va&aid=24096.
...US-NATO did not launch a war against Libya as a humanitarian gesture. If/when it removes the Gaddafi family from leadership and installs a replacement the allied military coalition will exercise decisive influence for many years to come, especially in oil concessions, privatizations and building contracts that enhance multinational corporations, air and military bases, a solid vote in the UN and other world organizations, and more.
Now did Gaddafi`s vision and plan of a Gold Dinar currency invite the U.S. and NATO to attack Libya? Possibly; lets remember Saddam announced Iraqi oil would be traded in euros instead of dollars and then the 2003 invasion occurred. Its not in the realm of possibility or imagination that the U.S. would of course would feel threatened, let alone the world bankers who really pull the strings and would rest power away from them. They just want a world that relies and relies only on the U.S. dollar for everything. Essentially there is nothing federal about the 'federal reserve' which really is a group of private bankers that 'loan money' to Uncle Sam and inevitably always in debt to them. Check the video by RT News concerning Gaddafi`s initiative on a gold-backed dinar currency that would trounce the dollar: http://www.youtube.com/watch?v=GuqZfaj34nc&feature=relmfu
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