Wednesday 11 April 2012

Iran cuts off oil shipments to Spain


Comments by Mike Ruppert:

-- I consider this to be the first real response by Iran to the U.S./NATO evicting Iran out of the SWIFT transfer system. Spain is already crumbling under the weight of collapse and been frequently in our breaking news of late. It has been rocked by nationwide confrontations, demonstrations and riots over austerity, corruption, student debt and the brutality of banks. With the highest unemployment in Europe after Greece, Spain is not in a position to beg for "bailouts" (in any guise) which obviously do no one except the 1% any good. Spain is a heavy user of Iranian oil. We have passed Peak Oil and it is not possible to replace the oil lost without driving prices to a level where all economic activity seizes up everywhere in the world.

The European markets are responding immediately and the response speaks eloquently for itself. 

Since there is a 96% correlation between greenhouse gas emission and economic activity and growth is no longer possible I consider this to be a justified act of war in response to the multiple acts of war already perpetrated by the U.S., Israel and Europe against Iran over the last five months. It is a death blow to all pretense of being able to "recover" the European economy. The ramifications are already sending shock waves through Europe. Coming in advance of international talks on Iran's nuclear program (which I repeat has never been the real issue) this is now a huge bargaining chip because U.S.-led sanctions and attempts to provoke a conflict have failed completely. Iran has already bluntly refused any preconditions for the summit, scheduled for later this week.

Spain's nonsensical announcement that it will replace Iran's oil with supplies from Nigeria (see the World News Desk) is belied by the fact that Nigeria is breaking down too. It is beset by foreign-inspired guerrilla movements, civil unrest, infrastructure failure, power shortages, and one of the greatest man-made environmental catastrophes of all time. The Spanish announcement about Nigeria makes as much sense as the U.S. and Britain using strategic reserves to replace Iranian oil.

Bottom line: The west is utterly screwed. Egypt has begun realigning with Iran and breaking away from the U.S. Egypt has the Suez. To all of our members in Spain, buena suerta! Go out and plant something to eat.

Iran now holds the entire European economic house of cards (and with that the world) by the jugular. Spain is the third-largest economy in Europe and it is TBTF... Too Big To Fix. At the coming multi-power talks we are going to watch Iran beat the entire, dishonest western economic establishment over the head with the truth of Peak Oil. I consider that to be pretty solid proof that telling the truth always gives ultimate advantage (especially on a spiritual level) over one who lies. The first requirement in a survival situation is to honor and embrace reality. -- MCR



Iran Escalates Again, Cuts Off Oil Shipments To Spain
U.S. gasoline demand down almost 0.7 mln bpd in 5 yrs

9 April, 2012

Those hoping for a quick and painless resolution to the Iranian question may have just seen their hopes dashed, following the breaking news from Iranian Press TV, according to which not only is Iran not seeking to appease its Western counterparts, but is, in fact escalating.

From Press TV:

Tehran has cut oil supply to Spain after halting crude export to Greece as part of its countersanctions against the European Union (EU), mulling oil supply cuts to Germany and Italy now,

"Countersactions" - lovely: another Swiss watch plan by the insolvent developed world.

Said otherwise, one can hardly threaten to do something to a country, which is already doing so voluntarily, in the process hurting Europe's already crippled economies even more by removing the cheapest source of energy for both.

Which however begs the question: just how much more Iranian crude are China and India importing despite promises to the contrary, and open warnings from the US not to do so?



Iran Sanction: Spain Switches over to Nigeria for Oil
Spain's crude imports from Iran dropped in January, while its supplies from Nigeria increased from 636,000 tonnes in December 2011 to 838,000 tonnes in January 2012, following the sanctions imposed by the European Union (EU) on the Islamic Republic of Iran


10 April, 2012

With this development, Nigeria has emerged the largest supplier of crude oil to Spain, after crude supplies from Saudi Arabia also dropped from 822,000 tonnes in December 2011 to 689,000 tonnes in January 2012.

Nigeria was the second-largest supplier of crude to Spain in December 2011, after Saudi Arabia, which supplied 822,000 tonnes.

Iraq is now the third-largest supplier of crude oil to Spain, with 657,000 tonnes.

According to Reuters, official data showed that Spain’s imports from Iran dropped from 407,000 tonnes in December 2011 to 279,000 tonnes in January 2012, representing 31 per cent decline.

In its latest monthly bulletin, strategic hydrocarbons reserve board CORES estimated that as a proportion of total imports, Iranian crude fell to six per cent in January from 9.5 per cent in December, which compares with around 14 per cent in previous months.

Spain, which needs to import virtually all of its crude, ramped up imports in January from Nigeria, Iraq and Libya, where production has been returning to normal after last year's civil war.

The EU imposed sanctions on Iran on January 23 over the Islamic republic's nuclear programme, although importers have until July 1, 2012 to execute previously signed contracts.

Reuters quoted trade sources as saying they expected Spain's crude imports from Iran to have dropped further in February.

Spain's biggest refiner, Repsol, has repeatedly declined to comment on details of its oil purchases, but in February, the government said the country's two biggest oil companies had arranged to switch imports from Iran to Saudi Arabia, Russia and, to a lesser extent, Iraq.

Cepsa, Spain's No. 2 refiner has said it plans to source crude from the United Arab Emirates.

Repsol has the capacity to refine 890,000 barrels per day and Cepsa, which is owned by Abu Dhabi investment vehicle IPIC, 430, 000 refines bpd.

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