Watching the World: Iran fails again

Those Iranians are back at it again, attempting to use oil as a carrot to seek support in furthering their nuclear ambitions. A few weeks ago, they dangled it in front of the Japanese (OGJ, Mar. 20, 2006, p. 31). Now they’re trying the Indonesians, too. Everyone knows that the Indonesians are having economic woes, especially from falling production rates in their oil and gas industry coupled with rising demand at home.That means the Indonesians must import expensive supplies of refined product and crude to meet rising domestic demand, while trying to subsidize the difference between world prices and local rates.Then, too, the Indonesians have had problems supplying natural gas to th...

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