International respect for America under Obama is seen in the amount of cooperation that he inspires amongst our “allies,” cooperation which diminishes daily.
In anticipation of a US-led ban on Iran’s central bank, India announced this week that the CBI would open an account with an Indian bank to receive payment for its oil, partly in Indian rupees instead of U.S .dollars.
Turkey, keen to position itself as broker between the West and Tehran, becoming the venue for future nuclear negotiations, is maintaining its import level of 200,000 bpd of crude from Iran.
The call by Obama for international cooperation against Iran’s Nuclear ambition, is not only being ignored, but countries are bypassing the U.S. dollar and using alternative means of payment.
Obama just announced that he will block Trans Canada Corp’s Keystone Pipeline from the Canadian Oil Sands into the United States, killing tens of thousands of jobs and further increasing the dependency of the U.S. on foreign oil from potential enemies such as Venezuela. Trans Canada is threatening to shift the pipeline towards China for their use. I guess we can buy oil from China then.