Our new Senior Editor Nina Rach, whose focus is on the drilling portion of our magazine and Web site, kindly asked for us to change our blog name Internet Drillers as our blogs have nothing to do with drilling. Fulfilling a logical request, we now introduce Rebecca’s and Ralph’s “Internet Oil Drum.” No, there’s no drumming involved, but I am a musician so I say it counts (for the record I’m not a good drummer).
That aside, I wanted to focus your attention to an article I was reading earlier: “Chinese oil demand fueling Iranian defiance”
Despite tough talk from Washington, China needs Iran's oil too much to support sanctions that might actually bite.
http://money.cnn.com/2009/09/30/news/international/Iran_oil/index.htm?cnn=yes
The article discusses how our government is working to tighten trade sanctions with Iran after it uncovered information there is a hidden facility that makes materials for nuclear weapons in Tehran.
The problem is that Iran is the fourth largest crude exporter in the world. So, which countries are going to be willing to sanction their oil supply? Read the article to find out. There’s also a video embedded in the article. Definitely a great read!
Recommended Reading
BP Energy Outlook: Oil Demand Diminishes, NatGas, LNG a Wildcard
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PureWest Bides Time, Positions for NatGas Demand in West Coast Markets
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Kissler: Mideast Tension Elevates Crude Prices—But for How Long?
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Despite Sanctions Russia Still World’s Fourth Largest LNG Exporter
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