Time running out for Japan, other Asian buyers of Iran oil

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  • 1

    IamGaijin

    Go buy that Iranian oil. the world needs it!

  • -1

    timtak

    It is amazing how good Europeans are at providing insurance and that there are no insurance providers in Asia that can replace those in the EU.

  • 0

    NetNinja

    It's wise. Especially when you want to pick a fight.

  • 2

    johninnaha

    Here's the plan.

    Slag Iran to hell in the media, using the excuse that they've got WMDs. Put the squeeze on them financially. Push them into a corner, so that the only way out they have is to fight. Then, when they do something even slightly aggressive, yell, "See! We told you so!"

    Then mount a whole scale war and bingo, you got their oil!

    Sound familiar?

    Way to go, Land of the Free!

  • -1

    patty cake champion

    It's wise. Especially when you want to pick a fight.

    But who else could the west fight in order to jump start the economy?[/sarcasm]

  • -1

    basroil

    Thing is, Japan can't afford not to use Iran oil, especially since they have no other way to produce electricity. A huge chunk of the operational electrical plants are oil based, since the coal plants were replaced by nuclear and the idiots shut down the nuclear plants.

    Next week we'll see a second article "Japanese Government to insure tanker ships from Iran" and a sister article "US Government displeased at Japanese Government over tanker ship insurance program".

  • 3

    zichi

    While Japan is a big importer of oil which is 40% of its primary energy, oil is only used to generate 8.8% (2010) of total electrical power compared with LNG, 27.4% (2010) and coal 26.8% (2010).

    More than 50% of Japan's oil imports come from Saudi Arabia and the United Arab Emirates with only 9.8% coming from Iran, and Japan has already secured further contracts to replace Iranian oil.

    The lack of Iranian oil is no big deal?

  • 0

    Ninoh

    We were all told that oil would run out in a decade and that was the 70's. There is more oil on this planet and they know it. It's all about control.

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