 Reply to bdawgp - Msg #2239699 - 02/19/2012 11:34
Re: Iran has stopped selling crude to British and French companies, the oil m...
Russia, no. They are self reliant. top 5,,,China, India, Japan, S Korea, Turkey. China and India likely to not budge, Japan asked for exemption from embargo so you know that means( their stuck) S Korea same, Turkey gets all oil from Iran and said they dont want Saudi crude
Most likely the Chinese will leverage this into more oil for cheaper prices. India is now trading rupees for oil, so what do they care, and they need it badly. Smart move so far for Iran as Rupee is appreciaiting well against $ and euro last couple months. Japan and S Korea will come around imo.
Glass is half full view, even though US drivers will pay more, with less than 50% total crude being imported these days, at least the extra $ is staying on our shores to some degree, and going to American Big Oil. Buy oil stocks, they're printing money.
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