the iranian bourse

Okay, so I was one of those people that thought sadam's most strategic move was requiring payment for oil in euros. I've seen people say it was petty politics but I don't think so and I do believe that in addition to the oil reserves we wanted the petroeuro was a motivating factor. It's simple economics at work and still clearly based on oil - oil becomes more expensive in dollars if the euro becomes stronger and is what oil is denominated in. Sure it happens a layer or two back (think bonds) but it happens nonetheless.

So then I read an article on the Iranian Oil Bourse. Ummm...I'm putting the odds at 30% for war with Iran by Q1 07. Think this issue is far fetched? I've heard rumors the Bush administration pressured bond raters such as Moody's and S&P to refuse to rate the bonds for the Iranian bourse. True? I dunno. Plausible? yup. One thing is clear though, Iran is right behind SA in OPEC and if anyone can do it (a euro-based oil bourse), it's them.

hmmm...