OPEC changing to PetroEuro in next 2 weeks?
- This was just posted on the Wayne Madsen Report. I didn't read the links, but it looks urgent, so I'm forwarding it on:
Subject: this just in: oil dollar really in peril
Date: 12/3/2007 12:37:18 P.M. Pacific Standard Time
My [anon] works for a petroleum group of companies.
The orders for D2 and M100 that are due within the next
3 weeks have been halted. Price quotes are based on
confirmation of funds called a POF. With that you get
a POP. But no POP's can be issued within the next 10-14 days.
This was announced as the Summit now in session in the Middle
East is conferring the new system for a basket of currencies or the
Euro to take over as the new petro-dollar.
If this really does happen before xmas, it will wipe out huge
Hence the companies that are buying right now, have to wait and wait
for this to be reconciled. It is also the end of the year and GAZPROM
group is preparing allocations for the next year , allowing the
refineries to take a breather.
Many of the brokers' around have called her company for immediate assistance.
I would prepare for more difficult conditions.
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