Iran, Venezuela announce support of gas cartel

[Shammu]

Iran, Venezuela announce support of gas cartel
JPost.com Staff, THE JERUSALEM POST    Apr. 9, 2007

Both Iran and Venezuela announced their support of a creating a future cartel of gas producing countries, Israel Radio reported on Sunday night.

Iran and Venezuela's ministers of energy rejected opposition from other countries to such an alliance, stating that there will always be a conflict of interests between those countries that produce gas, and those that consume it.

Iran, Venezuela announce support of gas cartel

[JustinD]

Interesting developement. I don't think it's anything to worry about. What good is Venezuela and Iran's oil if they can't sell it to anyone?

Iran with it's rebellious nuclear program and Venezuela with it's imbecile dictator of a president need to understand that sanctions could come really quick if they don't calm down. We'll see how bold they become when the world stops buying their oil.