The opening of the exchange is what the Iranians call the first phase. Ultimately, it's intended that it will compete directly against London's International Petroleum Exchange (IPE) and the New York Mercantile Exchange (NYMEX), both owned by US corporations. What Iran plans to do in the long run is quite daring: to confront head-on Anglo-American energy/corporate banking domination of the international oil trade. |
Read the rest of the story HERE:
At atimes.com
Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.