Wednesday, April 30, 2008

Iran Dumps U.S. Dollar For Oil Trades

CNN (and the AP) is reporting.

The first and twelfth story graphs are so "through the looking glass" we think that we might have been slipped some acid earlier in the day:

Iran, OPEC's second-largest producer, has stopped conducting oil transactions in U.S. dollars, a top Oil Ministry official said Wednesday, in a concerted attempt to reduce reliance on Washington at a time of tension over Tehran's nuclear program and suspected involvement in Iraq...
However, the U.S. has been wary of targeting Iran's oil industry directly, apparently worried that such a move could drive up crude prices that are already at record levels.
"Reduce reliance on Washington".


"the U.S. has been wary of targeting Iran's oil industry directly"

The Iranians are smart enough to reduce their reliance on us (and further reduce the demand for our currency), but what do we do? We fight over some chickensh*t gas tax while at the same time continuing to fill our gas guzzling cars and trucks at the gasoline pumps like the last 50 years never happened.

Isn't anyone else tired of our foreign/economic policy being hijacked by our addiction to an outdated technology?

Because the Iranians sure aren't.