RSS Feed
April 12th, 2012 
FAKE NEWS for the Zionist agenda While the economy keeps growing, rising gasoline prices can adversely affect consumer spending, thus diminishing the possibility of a quick recovery, the Fed said in a report published on Wednesday.
“The near-term outlook for household spending was encouraging,” it noted, adding that “rising gas prices could limit discretionary spending in the months to come.”
Commenting on the report, a senior economist with BMO Capital Markets pointed out that “high gasoline prices continued to worry the Fed’s business contacts.”
Meanwhile, according to the CNNmoney survey published on the same day, nine out of 18 participant economists said that the rising oil prices is now a bigger threat to the US economy than Washington’s ongoing gridlock over the budget and fear of China’s economic slowdown.
The soaring fuel prices are widely believed to be an upshot of US-led sanctions against the Iranian oil industry.
On December 31, 2011, the US government imposed a new round of sanctions on Iran’s financial and energy sectors, seeking to penalize other countries for importing Iranian crude or doing business with its Central Bank.
The EU followed suit by slapping similar sanctions on January 23, banning member states from importing crude oil from Iran or dealing with the country’s central bank.
On February 15, Iran’s Oil Ministry announced plans to cut oil exports to six European countries — namely the Netherlands, Spain, Italy, France, Greece, and Portugal — as part of its countersanctions against the European Union.
The US and EU accuse Iran of pursuing a military program under the cover of its nuclear energy work despite the fact that the International Atomic Energy Agency (IAEA) has found no evidence to this effect.
Tehran refutes their allegations, arguing that as a committed member of the IAEA and a signatory to the Non-Proliferation Treaty it is entitled to peaceful uses of the nuclear energy.
MAB/MHB/AS/HN
Related posts:
Views: 0
Posted in 
Tags: 
