Posted on 07/19/2011 5:32:04 PM PDT by SunkenCiv
The U.S. may have violated sanctions against Iran when it sold 30.6 million barrels of crude from its emergency stockpiles earlier this month, Sen. Lisa Murkowski, R-Alaska, said today.
At the root of the alleged violation is the Department of Energy's decision to sell four million barrels of oil to the Dutch-Swiss energy trading company Vitol, in light of recent energy trade publication reports that suggest the company is resuming business with Iran.
According to Murkowski, Argus just reported that Vitol signed a confidentiality agreement with the Iranian government, and last month, IHS Global Insight said the company had inked a deal to resume supplying northern Iran with crude from Turkmenistan in exchange for oil from an Iranian port in the Persian Gulf. Even before the recently reported agreements, Vitol was Iran's key petroleum fuel supplier until mid 2010.
(Excerpt) Read more at fuelfix.com ...
"Duh! This is the proverbial other shoe dropping. Death to America!"
WTF? If we’re going to tap the emergency reserve, shouldn’t the aim be to increase the DOMESTIC supply, not sell it on the world market to get more money to spend on measuring genitalia and other such nonsense.
The strategic reserve got tapped by Bill Clinton to try to ease high gasoline prices to help Al Gore in the 2000 election, which Gore lost.
Zero tapped it again to benefit his Muzzie brothers in Iran, and to do something that would make him look like he’s doing something — and when the price goes back up, he’ll blame oil companies again.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
