Saudi Arabia’s efforts to get OPEC to raise production has foundered on opposition, mostly from those on the other side of the fight for hegemony of the Middle East and the world, starting with Iran. The vote came down to Saudi Arabia, Qatar, Kuwait, and UAE against Iran, Iraq (!), Libya, Algeria, Angola, Ecuador, and [...]

Now that Bush has alienated Old Europe with his botched release of the NIE, Iran has taken the opportunity to ditch the dollar. Gotta say something for those old Persians–they still know how to play chess better than we do.