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Iran Oil Ministry: Exports cut to Britain, France

In this Sept. 27, 2000 file photo, an Iranian oil worker repairs a pipe at an oil refinery in Tehran. Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports. (AP Photo/Vahid Salemi, File)

In this Sept. 27, 2000 file photo, an Iranian oil worker repairs a pipe at an oil refinery in Tehran. Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports. (AP Photo/Vahid Salemi, File)

(AP) ? Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran’s crucial fuel exports.

The EU imposed tough sanctions against Iran last month, which included a freeze of the country’s central bank assets and an oil embargo set to begin in July. Iran’s Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to “hostile” European nations. The 27-nation EU accounts for about 18 percent of Iran’s oil exports.

“Crude oil exports to British and French companies have been halted,” Oil Ministry spokesman Ali Reza Nikzad-Rahbar said on the ministry’s shana.ir website. “We have our own customers and have no problem to sell and export our crude oil to new customers.”

Britain’s Foreign Office declined comment, and there was no immediate response from French officials.

The semiofficial Mehr news agency said crude exports were halted Sunday to the two countries. It also said the National Iranian Oil Company has sent letters to some European refineries with an ultimatum to either sign long-term contracts of two to five years or be cut off.

Mehr did not specify which countries were sent the ultimatum, but Spain, Italy and Greece are among Europe’s biggest buyers of Iranian oil.

Iran’s targeting of Britain and France appeared to be a political decision to punish the two countries for supporting tougher sanctions against Iran over its disputed nuclear program.

Sunday’s announcement follows a flurry of contradictory signals by Iran about backlash against the EU for imposing a boycott on Iranian oil.

Last week, state media said Iran was planning to cut off oil exports to six EU nations, including France, but later reports said the nations were only told that Iran has no problem finding replacement customers for the European shipments.

The EU sanctions, imposed last month, were part of Western efforts to target Iran’s critical oil sector in attempts to rein in Tehran’s nuclear program.

The West fears Iran’s nuclear program aim to develop atomic weapons. Iran denies the allegations, and says the program is for peaceful purposes like producing electricity and medical isotopes.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2012-02-19-ML-Iran-Oil/id-f0b572b4e7b54c8f805be72f5c65fe18

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Obama’s Oil and Natural Gas Drilling Proposal an Election-Year Ploy (ContributorNetwork)

COMMENTARY | It may be a sign of desperation that President Barack Obama would like to be seen adopting a “try anything” approach to energy production. His re-election may depend on it. But according to USA Today, no one is buying it.

Supporters of oil drilling have slammed Obama’s proposals to open up more areas to oil and natural gas production as a smokescreen. On the other hand, environmentalists are alarmed that Obama has even mentioned oil and natural gas production as options.

Obama is still reeling from his rejection of the Keystone XL pipeline, scandals like Solyndra, and just recently the bankruptcy of an administration backed electric car battery-maker, reported by the Hill newspaper. His green energy approach has been a failure.

Why is Obama suddenly in favor, at least rhetorically, of drilling for oil and natural gas. Has he adopted Sarah Palin’s ideas expressed by “drill, baby, drill?” Perhaps, but as Hot Air reports, an element of Obama’s new policy will financially benefit none other than George Soros, a major Obama campaign contributor and a financier of a number of liberal causes.

Despite the taint of crony capitalism, Obama may have stumbled on a salient fact that has escaped him and his central planning advisers hitherto. One of the reasons for the continuing economic malaise that grips the United States has been Obama’s continued restrictions on oil and natural gas production. Wind and solar energy may or may not pan out some day, but right now cars run on gasoline, not solar panels or wind mills.

One suspects that Obama being a born again oil and natural gas drilling enthusiast is an election year ploy, designed as a short term stimulus to his reelection chances and – perhaps – the economy. If he were to be reelected, one should expect a return to restrictions on oil and natural gas production accompanied by more subsidies to more politically correct means of obtaining energy.

Still, the fact that Obama feels the need to seem to have relented on hydrocarbon fuels is a good start. It should prove an incentive for congressional Republicans, not to mention the presidential candidates, to push even further.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ac/20120128/us_ac/10892069_obamas_oil_and_natural_gas_drilling_proposal_an_electionyear_ploy

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Magnetic Soap May Help Clean Up Spilled Oil

BP released millions of gallons of dispersants to break up oil from the Deepwater Horizon disaster. But what if dispersants could be sucked up again after doing their job? Chemist Julian Eastoe talks about an iron-containing soap he’s created that can be recaptured using a magnet.

Source: http://www.npr.org/2012/01/27/145990087/magnetic-soap-may-help-clean-up-spilled-oil?ft=1&f=1007

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Oil prices down slightly in light trading (AP)

NEW YORK ? Oil prices are slightly lower, as traders close out positions for the year despite an encouraging report about U.S. housing that pointed to stronger oil demand.

Benchmark crude on Monday fell by 36 cents to $93.17 per barrel in New York. Brent crude rose 5 cents to $103.40 per barrel in London.

Prices wavered after a private index showed that builders are less worried about the housing market this month. The report was a rare upbeat sign for the beleaguered industry.

Investors continued to sell their remaining investments in crude with only two, holiday-shortened weeks left in the year. Oil prices fell nearly 7 percent last week.

At the pump, retail gasoline prices fell by less than a penny to a national average of $3.22 per gallon.

Source: http://us.rd.yahoo.com/dailynews/rss/energy/*http%3A//news.yahoo.com/s/ap/20111219/ap_on_bi_ge/oil_prices

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Antique Oil Paintings Priceless Landscape Oil Paintings to Choose …

Antique Oil Paintings Priceless Landscape Oil Paintings to Choose From
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