Category Archives: No oil for us

Iran stops selling oil in US Dollars..

Kudos to my Digg friend InTheNameOfMine for turning me on to this story on a cold Saturday morning. Interesting no? Short blurb below:

TEHRAN (Reuters) – Iran has completely stopped selling any of its oil for U.S. dollars, an Iranian news agency reported on Saturday, citing the oil minister of the world’s fourth-largest crude producer.

The ISNA news agency did not give a direct quote from Oil Minister Gholamhossein Nozari. A senior oil official last month said “nearly all” of Iran’s crude oil sales were now being paid for in non-U.S. currencies.

For nearly two years, OPEC’s second biggest producer has been reducing its exposure to the dollar, saying the weak U.S. currency is eroding its purchasing power.

Iranian President Mahmoud Ahmadinejad, who often rails against the West, has called the U.S. currency a “worthless piece of paper.”

Amadinejad isn’t far off the mark about the buck being worthless..I recently blogged about the value dropping 40% since Bush took office.

In other news..Fran has a post up about the fine print in enlistment contracts..talk about bullshit on a stick..this one takes the cake..go check it out at her blog here. Fran does some great posts, that just jerk my chain..but then..she usually has a funny one after it to calm me down..thank Buddha for that 😉

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