Iranian Oil Bourse opening tomorrow (March 20) ??

[LSK]

"Iran is planning to open a commodity exchange, under names variously referred to in English as Iran Petroleum Exchange, International Oil Bourse or Iranian Oil Bourse, for the express purpose of trading oil, petrochemicals and gas in various non-dollar currencies, including euros. The opening date was initially planned for March 20, 2006. If successful, this would establish a euro based pricing mechanism for oil trading, or 'oil marker' as it is called by traders.

The acronym IOB has been used as it can be interpreted as either International Oil Bourse or Iranian Oil Bourse, but has no official status."

http://en.wikipedia.org/wiki/Iranian_Oil_Bourse

Is it opening? Will the MSM say anything about it? How will it impact the value of the dollar and our economy?

http://en.wikipedia.org/wiki/Petroeuro

[MADem]

1. They are just breaking off from their ME and other partners

Whatcha wanna bet the Russkies are already heavily invested??? Good Caspian Seas make good neighbors, after all...

[Wwagsthedog]

2. Let us keep our eyes on the real ball.

CHINA :popcorn:

[LSK]

3. oh yeah, the country we are giving all our money too

:popcorn:

[harpo]

4. actually anyone who is going to be converting large assets into euros...

is something we should be keeping our eyes on...that's why we're in Iraq.

[Marie26]

5. Doesn't look like it

"Despite repeated reports over the past 18 months or so that the planned bourse would finally open for business on March 20, 2006 -- and go head to head with the New York Mercantile Exchange and the ICE Futures Exchange in London -- the start date has been postponed by at least several months and maybe more than a year.

"In the middle of 2006, we are able to start the bourse," Mohammad Asemipur, special adviser on the project to Iran's Oil Minister, said when reached in Tehran. The plan is to trade petrochemical products first, with a crude oil contract coming last, a rollout that likely will take three years, he said.

"Oh, crikey, it's at a much earlier stage than people would think," said British consultant Chris Cook, who claims credit for coming up with the idea for the exchange in the first place and is a member of the consortium headed by the Tehran Stock Exchange that is charged with bringing the project to life.

http://www.iranian.ws/iran_news/publish/article_14125.shtml

Not sure about the source, but I couldn't find anything that contradicts it. You'd think, if it was opening tomorrow, it'd be reported somewhere.

[file83]

6. Watch the US Dollar fall like a rock this week.

[LSK]

7. anyone else know if it opened?