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View Diary: I am not Surprised by Republican Reactions to the Iran Nuclear Deal (94 comments)

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  •  Cheaper Oil, Harder for Chinese/Indian Factories (4+ / 0-)
    Recommended by:
    native, Wee Mama, lcrp, Jay C

    Iran's nukes programme keeps severe sanctions on Iran. Those sanctions keep Iran's large oil output off the open global markets. It must be sold instead through exemptions and waivers to China, Japan, S Korea and India. That system makes Iranian oil cheaper for China and Iran, while the rest of the oil (Russia, Saudi, Venezuela, Mexico, Canada, etc) is more expensive due to supply/demand).

    Without nukes, without sanctions, Iran's oil can be sold on the open market again. Less US (and EU, etc) money goes to those oil exporting countries, particularly our adversaries (and other terrorist states). And our main manufacturing rivals in India, China and Japan will have to pay what American (and European, and African, etc) manufacturers have to pay. Also Iranian oil is cleaner than desperate tar sands and fracking oil that it will displace, and safer than the desperate deep sea drilling that it will postpone.

    The sanctions are a deliberate distortion of the world's oil markets. They have caused vast harm to the Iranian people, and also to the rest of the world. Walking back from the permanent crisis will do lots of good around the world - though less good for some of the worst actors.

    "When the going gets weird, the weird turn pro." - HST

    by DocGonzo on Sun Nov 24, 2013 at 07:24:11 AM PST

    [ Parent ]

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