Horace Heffner wrote on 2-17-08: For whatever it is worth, at least the US is not the only country with stupid (or corrupted) energy policies.
http://www.reuters.com/article/summitNews/idUSL1589672020080115 http://www.reuters.com/article/environmentNews/idUSL1785522220080118 It's the same old story. Wipe out the renewable industry instead of increasing petroleum or other taxes. That way the eventual but inevitably resulting much larger increase in energy prices and energy shortages will look like they are caused by someone or something other than the politicians. This leaves them free to enjoy oil company backing in the mean time. The renewable industry wipe out is much more effective this way too. Letting the industry grow and then shocking them into bankruptcy, instead of maintaining an even policy, teaches innovators and investors a powerful lesson that keeps many out of the energy business for years. It is pretty easy to find fault with politicians and lobbyists, especially where corruption is found to be involved. However, the real problem is lack of an adequately informed public, a public that understands what is now happening to them and who should be outraged, and whom politicians should respect or fear when it comes to harming renewable energy growth. On Feb 17, 2008, at 8:16 AM, Jones Beene wrote: ... but still, all things considered, how much longer can GM keep letting their "Peters" do the talking, and make such major market miscalculations? ... all the while driving a once-excellent and dominant company into "early retirement" ? Horace Heffner wrote on 2-17-08: Say, I wonder if this is an opportunity. When some major car manufacturer's stock crumbles, maybe it is possible to use the internet to put together a grass roots green takeover. It might be a way for some folks to not only advance renewable energy and conservation, and force long range thinking, but to make some money for retirement as well. It is primarily a matter of getting the right people on a board of directors. It might be possible to get automotive industry employee backing as well. A key factor in being able to accomplish this is the ability of 401K and IRA stockholders to have voting rights with their stock. Isn't there some kind of limitation on this now? ---------------- Hi All, As of the opening of the Iranian Oil Bourse today, selling oil for euros, not dollars, I think the chance of an American attack on the Iranian oil fields has never been greater. Please see below. Jack Smith ----------------- http://www.business-standard.com/common/news_article.php?leftnm=lmnu9&subLeft=2&autono=312626&tab=r NEWS ARTICLE from The Business Standard, 2-5-08, ``4th cable snaps, Qatar-UAE traffic disrupted by Rajesh S Kurup & Leslie D'Monte / Mumbai In less than a week's time, a fourth submarine cable was severed in West Asia, disrupting voice and telecommunication traffic between Qatar and the United Arab Emirates (UAE). Even though sources attributed the disruption on Sunday night to power outage and not a ship's anchor that affected the earlier two Mediterranean cables (FLAG Telecom's FLAG Europe-Asia cable and SeaMeWe-4), thousands of bloggers across the world are attributing this to a possible sabotage in the Mediterranean Sea in a bid to isolate Iran. Cutting these cables might affect Iran's ability to defend itself since communication is of vital importance during military action, they allege. The fourth submarine cable was damaged between Haloul (Qatar) and Das (the UAE). Egypt's ministry of maritime transportation, after reviewing the satellite pictures, said there were no ships (which led to the speculation and allegations) near the cable channel 12 hours before or after the damage near Alexandria, Egypt. "...to have three undersea cables, or is it actually four cables?, cut in the same region in just a two-day span, strains credulity; the more so, when we look at how the damage has played out across the region... communication cable cutting in West Asia leaves Israel and Iraq still connected, while completely shutting down the Iranian internet. Funny how that works, isn't it?" asks a professor on his site. "Seriously, is there anyone who doesn't think this is either a precursor to military action, or a direct attack on Iran's about-to-launch Euro-based oil market?" asks another blogger. "Iran is back online, but its traffic is now passing through the UK and the US, the latter controlling the 13 primary routers. Can you say wiretap?" queries another. Others recall spy stories of the US Navy sending out special operations teams to go out on submarines and deploy undersea operations, on the seabed itself, specifically for cutting or tapping communication cables with special airlocks and very sophisticated equipment, much of it thoroughly documented in Blind Man's Bluff: The Untold Story of American Submarine Espionage by Sherry Sontag and Christopher Drew ...'' ------------------ http://www.organiser.org/dynamic/modules.php?name=Content&pa=showpage&pid=225&page=27 NEWS ARTICLE from Organiser, 2-16-08, By Sandhya Jain, Bharat Prakashan(Delhi) Issues: February 24, 2008 ``Internet and the Iran oil bourse The Iranian Oil Bourse [scheduled to open on 2-17-08] will hasten the speed with which major oil countries dump the dollar for the euro; thus hastening the collapse of the US economy. [The Chinese and Japanese have purchased trillions of dollars of U. S. government bonds in order to guarantee their ability to buy oil from Arabs who will only accept dollars ('the petrodollar').] It is pertinent that public opinion in America and other western nations is still ignorant that Saddam Hussain's decision to switch from dollars to euros for the purchase of Iraqi oil was the principal factor behind the invasion of Iraq. Political observers feel the Iran government's plan to inaugurate its Oil Bourse this month had a connection with the sudden inexplicable cutting of several undersea internet cables. All internet access in Iran was cut and total internet blackout was experienced for a few days. Indian BPOs and focus of media attention for the slowdowns that nearly crippled the industry for almost a week, were probably unintentional targets of what appears to be a far deeper conspiracy. Possibly nine cable cuts have been detected since January 23. The first report said two cables were cut off the Egyptian Mediterranean coast, disrupting three-quarters of the international communications between Europe and the Middle East. These cuts were initially attributed to hits by ships anchors. But later, the Egyptian Ministry of Communications and Information Technology said video footage of coastal waters in the region of the two cables showed there was no ship traffic for 12 hours preceding and 12 hours following the time of the cable cuts. In view of subsequent developments, sabotage seems more likely. A few days later, another undersea cable was found cut in the Persian Gulf, 55 kilometers off Dubai. There followed reports of another damaged undersea cable between Qatar and the United Arab Emirates. Soon another report mentioned a cut undersea cable running through the Suez to Sri Lanka. As media interest caught on, the Khaleej Times reported on February 4, 2008 that as many as five undersea cables were damaged, including a cable in the Persian Gulf near Bandar Abbas, Iran; and SeaMeWe4 undersea cable near Penang, Malaysia. There is no logical explanation for the sudden damage to nearly nine undersea cables in the course of a week. The known list so far includes one near Marseille, France; two near Alexandria, Egypt; one near Dubai, Persian Gulf; one off Bandar Abbas, Iran, Persian Gulf; one between Qatar and the UAE, in the Persian Gulf; one in the Suez, Egypt and one near Penang, Malaysia. The Bharti Airtel-VSNL-seven global telecom firms' new submarine cable from India to France via the Middle East was cut in more than one place. In fact, the most affected region is the Middle East, North Africa and South Asia. It is striking that almost all these cuts have taken place near Muslim countries, which are naturally affected. Thus suggests the handiwork of parties capable of undersea cable sabotage, having a pronounced anti-Muslim bias ... This brings us back to the Oil Bourse that Iran planned to open in February 2008 [2-17-08], for trade in `non-dollar currencies'. Obviously, this has enormous geo-political and economic implications for America, as hitherto the dollar had been dominant international reserve currency for oil transactions. The American economic meltdown on account of sheer fiscal indiscipline spanning decades has, however, caused corporates, bankers, and governments to look for alternative currencies. In the age of sovereign wealth funds, no nation wants to buy the sharply falling dollar. A functional Iranian Oil Bourse, selling oil tankers in non-dollar currencies, is a terrible snub to America. As discussed previously in these columns, members of the Gulf Cooperation Council (GCC), namely Bahrain, Kuwait, Qatar, Saudi Arabia and the UAE, propose to adopt a monetary union and single currency by 2010 (like the euro). Last May, Kuwait ended the dominance of the dollar and adopted a basket of currencies, triggering rumours that the UAE and Qatar would follow suit. In December 2007, the GCC, barring Kuwait, agreed to continue to peg their currencies to the American dollar, but experts expect this to change as the dollar continues to slide. Certainly, by 2010, they will go for the new GCC currency. It is equally certain that if Iran manages to open its own Oil Bourse, the GCC will trade there on account of geographic proximity. This will make Iran the main hub for oil deals in the Middle East. The three damaged undersea cables in the Persian Gulf are an expression of anger and frustration at the inevitability of this development. For Iran, there is an additional message that its nuclear programme is riling the falling superpower. The Iranian Oil Bourse will hasten the speed with which major oil countries dump the dollar for the euro; thus hastening the collapse of the US economy. It is pertinent that public opinion in America and other western nations is still ignorant that Saddam Hussain's decision to switch from dollars to euros for the purchase of Iraqi oil was the principal factor behind the invasion of Iraq. This could have encouraged other OPEC nations, besides Nigeria, Mexico, Venezuela, to follow, and thus endangered US economy. Despite the invasion of Iraq and the possible threat to Iran, the US monopoly over the oil trade is now in peril. Hitherto, oil has been valued in dollars and mainly traded on the New York Mercantile Exchange or London's International Petroleum Exchange, both of which are owned by American corporates. This monopoly compelled national banks the world over to buy dollars, and this compulsion allowed the US to build a debt of over eight trillion dollars. Once the euro emerges as the principal oil currency, the dollar will plummet in value, sinking the American and British economies. Political observers fear a knee-jerk reaction from Washington. '' --------------- http://www.daniweb.com/blogs/entry2088.html COMMENTARY by Michael Knight from Dani Web, 2-15-08 Michael_Knight's Blog ``Rumors and speculation about why five undersea cables to the Middle East have been severed and what it means for IT security ... The comment storm across the blogosphere ... has raised awareness of several important facts: The USS Jimmy Carter, a Seawolf-class nuclear-powered submarine, can spy on the Internet underwater; the Pentagon considers the Internet an enemy weapons system, and President George W. Bush signed a secret order to expand the NSA's network-monitoring programs just four days before the first two fibre-optic cables were mysteriously disrupted.'' ------------- http://www.capitolhillblue.com/cont/node/4511 Article from Capitol Hill Blue, 2-10-08, By Robert A. Kezelis ``Conspiracy theories and cut InterTube cables Truth is stranger than fiction, reality is weirder than any drug induced Hunter S. Thompson fairy tale, and sometimes obvious facts are so bad that the mind chooses to ignore what the eyes see right front and center. In 1985, FBI agent Robert Hanssen began spying for the USSR, just 6 years before its collapse. One of the secrets he sold to them was the fact that a special ops submarine managed to tap the most important USSR military undersea cable in existence. The sub did this not once, but repeatedly, coming back to pick up the recorded tapes, and to replace, even upgrade the tapping equipment. The exact dates of tapping and the results of that spying are murky, but by the few, reliable accounts that discussed that op, it was incredibly successful. In 2001, after the attack by Saudi, Yemeni and other extremists, Iran initiated contact with the US, attempting to coordinate and deal once and for all with the Taliban and the hated Al Qaida. Iran had as much distaste for AQ as the US did. Bush, with the vainglorious advice of Dick Cheney, and the truly inane insights of Condi Rice, rejected all contact. Bush followed up that rejection by labeling Iran part of the Axis of Evil. Iran was understandably chagrined. The moderate leaders, who had pushed for more contact and cooperation, lost face, and worse, because of the US moves, they also lost control, allowing the more conservative forces to extend their power. Iran decided to do more than simply react, they decided to take other steps to limit the damage that America could do to Iran. Their first step? Cutting economic ties. However, they were not the first to try. The man that actually did demand Euro for his oil was Saddam Hussein in 2000. At first, his demand was met with ridicule, later with neglect, but as it became clearer that he meant business, political pressure was exerted to change his mind. When other countries, like Iran, wanted payment in other currencies, most notably Euro and Yen, the danger to the dollar was clear and present, and a punitive action was in order. Bush's Shock-and-Awe in Iraq was not about Saddam's nuclear capabilities, about defending human rights, about spreading democracy, or even about seizing oil fields; it was about defending the dollar, ergo the American Empire. http://www.energybulletin.net/12125.html This month, Iran was supposed to open its own bourse, trading oil and oil futures in Euros and other currencies, but not the dollar. Delinking oil from the dollar would protect Iran from Bush's spendthrift invasion and occupation of Iraq, and the resulting collapse of the US dollar. Being a high tech project, the tubes of the internets would play a vital role in this new market. And behold, four major cables linking the Middle East to the rest of the world were severed, all within one week. Some ignorant US sources dutifully tried to blame it on "ship anchors", but even the Egyptians refused to go along with that bogus spin. Not only were two cables away from any shipping lines, no ships had passed through there at the time of the disruption. Looking at the flotsam and jetsam that used to be the ancient and proud country of Iraq, replaced by a Green Zone which now sits next to the world's largest open sewer, one might suspect that decoupling oil from the dollar might incite a strong reaction by certain elements deep within the US power structure. US submarine technology has not stayed static since the 1970s. To the contrary, it has improved, along with other military technology. As we learned last year from AT&T, tapping every single communication within a phone company is not all that hard, not for the NSA, CIA, and with the tacit support of your DOJ and White House. How much of a stretch is it to add 2+2? Either the Israelis or the US, severed the intertubes providing Iran with internet access, and in the process, tapped the lines with hi-tech links, either before or during the repair process. He who controls information flow, controls pretty much everything. And if the US managed to tap into the entire middle east's net connections with these "accidents", well I suspect our lives have just gotten a whole lot more complex.'' Login or register to post comments Submitted by JeremiahJones on February 12, 2008 ``It doesn't matter where the oil comes from, it's a global commodity. Price is determined by speculation over the supply-demand relationship (demand being pretty inelastic in the short run). Rebels in Nigeria boost cash flows to Dallas banks as East Texas crude is bid up. (Ever wonder where the funding for these obscure, long-running insurgencies comes from?) The oil cartels have been playing geopolitics for over a century: A little regime change here, a little rumble in the jungle there, pretty soon you're talking real pricing power.'' ------------- http://www.oxan.com/worldnextweek/2008-02-14/Iranianoilbourselaunches.aspx NEWS ARICLE from Oxford Analytica, 2-14-08, February 16-22, 2008 ``Iran launches oil bourse The long-delayed Iranian Oil Bourse (IOB) will start operations on Sunday [2-17-08], the official Iranian news agency IRNA said, citing the country's oil minister. The exchange, based on the Gulf island of Kish, a free trade zone, opens with a whimper, rather than the promised roar. The IOB has long been touted by Iranian news agencies as a petrobourse for petroleum, petrochemicals and gas in various non-dollar currencies, primarily the euro, which would have a negative impact on the US economy and financial system ...''
