To them, this gem from The New York Times may come as quite the shocker. In a tweet referring to an article they published, The New York Times actually gives Trump some credit for a smart policy move:
When Trump announced the U.S. would withdraw from the Iran deal, experts feared it would hurt the economy and leave Iran free to restart its nuclear program. But, so far, the policy has been effective without either of those consequences. nyti.ms/2Nrkxz1
“If Mr. Trump’s approach worked too well, oil prices would spike and hurt the American economy. If it failed, international companies would continue trading with Iran, leaving the Islamic Republic unscathed, defiant and free to restart its nuclear program.”
They go on to state that “the policy has been effective without either of those nasty consequences, at least so far.” They have come to the conclusion that Trump was right, “so far,” based on certain observable factors.
First, oil prices. “Remarkably, the price of oil in the United States has risen only modestly while gasoline prices have essentially remained flat. The current global oil price hovers around $80 a barrel, $60 below the highs of a decade ago.”
This may be related to the fact that Iran’s own exports are declining. Even oil companies in counties that still want to work with Iran on the nuclear deal have been “bailing out of deals with Tehran.”
According to CNBC, French energy giant Total CEO Patrick Pouyanne said, “Large energy companies cannot risk doing business in Iran in light of U.S. sanctions on the country.”
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He told CNBC, “There’s not a single international company like Total who can work in any country with secondary sanctions. I don’t have the right. It’s just the reality of the world. The reality is that the capital of the world today is in the hands of the U.S.”
“Is it right that in this world the U.S. (is) using that … to impose some rules for other countries? That’s a debate.”
Total is not the only company that sees working with Iran without a waiver from the U.S. wouldn’t make financial sense. The New York Times wrote, “The Foundation for Defense of Democracies, a conservative Washington think tank, found that 71 foreign companies planned to withdraw from Iran, 19 intended to stay and...Read More HERE
1 comment:
Go to Don Surber's blog and you'll see the Gray Lady is saying the same thing about the trade war with Red China.
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