Iran and The Gas Pipeline Battle
[Click to enlarge][source]
The West has a losing hand in the stand-off with Iran. The US incites its European allies, entirely against their own interest, to impose an oil-embargo against Iran. That is: Europe no longer buys oil from that nation. That is not a very smart move, since there are more than enough potential buyers in the tight market, lining up for the scarce resource. And every barrel of oil a supplyer does not sell today, it will sell for a much higher price in the future. However the ban is not working: Islamabad confirmed on 1 March that it will complete the construction of the Iran-Pakistan gas pipeline. More than 2 000 km long, the Iranian section will soon see the light of day whereas the Pakistani side will be finished by 2014. It could, at a later stage, be extended by 600 km to reach India. The project is backed by Russia. And China has expressed interested in buying an extra 500,000 barrel/day from Iran. The end result is that Italy and other European countries will have to deal with much less oil. At some point the EU might come to the conclusion that there are in the wrong geopolitical club. Meanwhile Washington is putting Pakistan under pressure to opt for an alternative pipeline, delivering gas from Turkmenistan. The Turkmen natural gas deposits are largely controlled by the Israeli Merhav Group, headed by Mossad agent Yosef Maiman, one of the most influential figures in Israel. So now we know why Washington is backing this project.
[Click to enlarge][Source pic]