WASHINGTON
(Reuters) - Senate leader Harry Reid (click title to entry - thank you) on Tuesday said he hoped the Federal Trade Commission would look into rising domestic gasoline prices, noting "rampant speculation" in oil markets.
"I would hope the Federal Trade Commission can help us" by probing the run-up in prices, Reid said in response to a reporter's question about what lawmakers could do to tackle rising retail gasoline prices.
Average U.S. retail gasoline prices are now at nearly $3.72 per gallon, up from $3.37 a year ago. The price could pass $4, especially if political tensions with Iran, a major producer, continue into the U.S. summer driving season that increases demand....
Rampant speculation, gee, ya think?
It isn't a matter of not having Iranian oil that is increasing prices, it is a matter of speculation. There are other oil sources, Iran is a convenience to many that can seek supply elsewhere without difficulty.
And where exactly is USA Aid to Pakistan going? To Pakistan? Or Iran? It sounds like "Oil for Food" to me.
February 29, 2012 12:07 pm
Japan nears deal to cut Iran oil imports
By Ben McLannahan in Tokyo
Japan is nearing agreement with the US (click here) on a deal to make deeper cuts to its Iranian oil imports, a move designed to head off sanctions against Japanese banks operating in the US.
Koichiro Gemba, Japan’s foreign minister, said on Wednesday that Tokyo and Washington were “in the final stages” of talks. “We’ve reached pretty deep mutual understanding,” Mr Gemba said. “I don’t think there’s reason at this point for concern about becoming the target of sanctions.”...
It isn't a matter of not having Iranian oil that is increasing prices, it is a matter of speculation. There are other oil sources, Iran is a convenience to many that can seek supply elsewhere without difficulty.
And where exactly is USA Aid to Pakistan going? To Pakistan? Or Iran? It sounds like "Oil for Food" to me.
Iran offers Pakistan 80,000 barrels per day of oil: official (click here)
By Qasim Nauman
ISLAMABAD | Wed Feb 29, 2012 6:55am EST
(Reuters) - Iran has offered 80,000 barrels per day of oil to Pakistan on a three-month deferred payment plan, an official in Islamabad said on Wednesday, in an attempt to soften the impact of Western sanctions and ease some of Pakistan's energy needs.
Tehran's offer comes a week after Pakistani officials revealed that Iran had asked to import a million tonnes of wheat in a barter deal, with the latest Western sanctions over Tehran's nuclear program disrupting critical food imports.
"It is only an initial offer of 80,000 barrels (per day) on deferred payment at the moment," Irfan Qazi, a spokesman for Pakistan's Ministry of Petroleum and Natural Resources, told Reuters....
