Iran gas prices rose 400% overnight...I wonder what the real story is? What does it mean for the US?
http://news.yahoo.com/s/ap/ml_iran_economy
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Iran gas prices rose 400% overnight...I wonder what the real story is? What does it mean for the US?
http://news.yahoo.com/s/ap/ml_iran_economy
Their government was subsidizing prices.
They were paying the equivalent of about $0.25 per gallon.
Now they will be paying about the same as we pay.
Big deal. I see no problems here. Maybe a riot or two on their soil though.
I see it going back to subsidized prices again after the fall out, then a gradual increase in price.
Many of us serving as Civies in the Middle east also enjoyed a form of this.
While in Kuwait I Was paying .065 fils/Liter or ~0.80 USD/Gallon.
But then again They have refineries the size of Aurora up and down the coast worked by Third world laborers and their oil is Nationalized...
The down side of that is that Orange juice was ~$40.00 a Gallon
In Other news
Seagulls completely cover a lighthouse
http://d.yimg.com/a/p/ap/20101218/ca...MwOmYMNtzMjw--
(joke)
I don't understand why they ended the subsidy. I was confused by the article.
damn seagulls!![Rant1][ROFL1]Quote:
Originally Posted by Byte Stryke
I'm concerned about the Iran situation too. It's an unusual move on behalf of their government. Sort of like N. Korea, they're an unstable lot and such an unusual move could mean anything from nothing to preparations for international actions (raising their international petro prices, action against Isreal, ...).
Something to keep our eyes on at any rate.
It happens quite often. The Brits just cut its higher learning tuition budget aka subsidies. Socialist economic system simple does not work.Quote:
Originally Posted by Stuart
Yeah, but I was under the impression that they made the change due to pressure from other countries.
Yes, indirectly due to embargoes and sanctions, the Iranian govt has been cutting back. On the other hand, the Iranians tend to believe this is exactly the reason why they need the nuclear power.Quote:
Originally Posted by Stuart
I half expect to see it somehow tied in with the South American missile issue.
http://www.hudson-ny.org/1714/iran-m...s-in-venezuela
They gotta cut it *sometime*. It probably should have been weened a little longer, but Iran's under some financial stress.