By Douglas V. Gibbs
Iran has gained control of the presidency of OPEC, giving them the top spot for the first time in 36 years. The position is officially effective in January of 2011. This places nations like Saudi Arabia, who fears Iran enough to allow Israel use of their airspace for any strikes Israel may consider against Iran, at a sever disadvantage.
Iran's gain of the presidency of the oil cartel gives the country an advantage during the global economic slowdown that provides power and position. As the third largest nation in the terms of crude oil reserves, the new power also places nations who stand in opposition to Iran at a disadvantage, considering their dependency on foreign oil, a large part of which comes out of OPEC nations.
-- Political Pistachio Conservative News and Commentary
Iran Takes OPEC Presidency - UPI
No comments:
Post a Comment