The Trump Administration has been talking about its long-term goal being
to force Iran oil exports to zero for months, and has faced resistance
because of the impact it would have on the oil market, and by extension
the global economy.
Reports indicate, however, that despite the panic and surge in oil prices it is certain to cause, the Trump Administration intends to announce on Monday
that they will refuse all waiver renewals of Iran oil, meaning that as
of May 2, all Iran oil exports will be sanctionable under US law.
The administration believes this will cripple Iran’s economy, and while
it might, there are broader implications as well. Iran exports about a
million barrels of oil a day, and there simply aren’t a million extra
barrels of oil on the market to make up for that.
This means from the announcement through May 2, all those nations
suddenly without waivers are going to be scrambling to scrape up the
last little bit of supply they can get, at rising prices, while the
Trump Administration tries to ignore the consequences.
How far this digs into exports of course remains to be seen. China has
openly said before that they don’t intend to comply with US sanctions,
and nations like India may decide they simply can’t afford to go along
with US demands.
Sanctions are intended to punish the population of a country that does not overthrow a government that refuses to accept the hegemony the DC ruling class.
China must have oil to run their economy. The US foreign policy cabal seeks to strangle the Chinese economy by controlling the oil resources of the planet and bring China to its knees.
It won’t work. The Western nations used the oil strangle strategy with Japan prior to WW 2 and Japan went to war. The Chinese will do the same.
The DC political class are not sane. They think they are masters of the universe.
Anything that raises oil prices is good for the world’s future. It’s crazy that politics means it’s a lot harder to get oil off the market for humanity and the environment’s future than because certain fringe factions in America hate Iran. And if no one listens, that’s a great step towards making the USA irrelevant on the world stage, which definitely improves our chances of survival.
Oil has made a lot of people extremely rich, and seeing as how it’s legal for the extremely wealthy to bribe politicians, i mean – donate to them, you won’t see any legislation or incentives for moving off of oil. Remember, as Trump says, if you’re using wind energy and the wind isn’t currently blowing, how are you going to watch TV? And that’s coming from someone who knows a lot about wind.
Funny anecdote. Yes the playing field is far from level, but I believe substantive changes are possible. Anyone who believes in paying for what you get should support gas taxes once again fully paying for America’s roads. It’s easy to understand for the average Joe and policy wonks alike: cars are dirty, bikes are better. And what cash value does a planet that can support human life have? The wake-up calls will get louder and ever more frequent, and awake people will demand real changes.
As shown in this recent news from Iran, there are issues that Washington should be more concerned about than sanctioning Iran for its nuclear aspirations:
https://viableopposition.blogspot.com/2019/04/iran-and-cias-worst-nightmare.html
It would appear that the American intelligence community has learned very little from its mistakes prior to September 2001.
And Bibi sends his thanks.
If there was ever a successful coup d’etat in the USA, it was perpetrated by israel. Amerika is an israeli occupied territory and has been for decades.
Amazing the price we are willing to pay Israel.
prattle
Nations who are sanctioned should immediately point out that, as these extraterritorial sanctions are not pursuant to a UNSC resolution, the sanctions are counter to trade regulations. Then they should immediately add tariffs to US goods to make up the exact amount of funds their companies are being penalized by to make them whole and otherwise ignore the sanctions.
The fact that EU nations have not chosen to follow this common step procedure shows them for the craven servants they are in their relationship with the US.
The “Trump Administration” and of course Israel, care NOT AT ALL about the effect on the rest of us as prices rise and Iranians suffer more for daring to keep to an agreement the USA tossed out.
A bit off-topic, but it’s too bad Justin closed comments to his articles.
He seems fit enough, however, to militate against Iran if no other reason than its refusal to become yet another polity fallen to libertine ethics. No, I don’t support hanging gays for their frivolity, but it’s still no reason to rationalize the “correctness” of two-faced Trump’s fealty to Israel, which will cause exponentially more harm.