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May 2024

Iran Closing In on Nukes; World Targets Israel Hypocrisy and cynicism beyond all bounds. P.David Hornik

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From the Wall Street Journal:

On Monday, the U.N. atomic-energy agency reported that Iran’s stockpile of 60% highly enriched uranium rose 20.6 kilograms to 142.1 kg as of May 11 from three months earlier, its highest level to date.

U.S. officials say that material could be converted into weapons-grade enriched uranium in a matter of days. It would then be enough to fuel three nuclear weapons.

Three Iranian nuclear bombs in a matter of days—sound alarming? Yes, but not, seemingly, to Washington.

The U.S. is arguing against an effort by Britain and France to censure Iran at the International Atomic Energy Agency’s member-state board in early June, the diplomats said. The U.S. has pressed a number of other countries to abstain in a censure vote, saying that is what Washington will do, they said.

A censure resolution might not seem a very strong measure this late in the day—and it isn’t. But, at least:

Mark Dubowitz, chief executive of the Foundation for Defense of Democracies, said a censure resolution would help set out a record of Iranian noncompliance that could ultimately lead to a snapback of international sanctions.

British and French officials are telling Washington that an IAEA censure resolution could pave the way for a formal rebuke by the UN Security Council. The Biden administration says Russia and China would just veto it, handing Tehran a diplomatic coup. On that, the administration may be right.

A Sneaky Way To End Fossil Fuel

https://issuesinsights.com/2024/05/28/a-sneaky-way-to-end-fossil-fuel/

When candidate Joe Biden promised while on the campaign trail that “we’re going to end fossil fuel,” could anyone have guessed that emptying the nation’s Strategic Petroleum Reserve was part of the plan? Maybe Biden had that in mind all along – enact policies that raise the price of gasoline, dip into the reserves to lower prices for consumers, then finally wring them dry for, putatively, the same reason. That’s one way to get rid of quite a lot of fossil fuel.

The federal Strategic Petroleum Reserve is “the world’s largest supply of emergency crude oil,” says the Energy Department. It was created in 1975 by the Energy Conservation Act, “primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program.” The oil is stored in underground salt caverns at four sites along the Gulf Coast. Initially planned to hold up to 1 billion barrels of petroleum, the authorized storage capacity, at 714 million barrels, is a bit short of that. Still, says the Energy Department, this “makes it a significant deterrent to oil import cutoffs and a key tool in foreign policy.”

The SPR was never intended to be a political chip, to be tapped into by a president who wants to temporarily push down gasoline prices to gain votes.

Nor was it to be used as a means to end fossil fuels, a Democratic Party dream that would be a long national nightmare for the country.

The Biden administration has authorized two releases from the country’s petroleum reserves. Last week it announced the sale and liquidation of 1 million barrels from the Northeast Gasoline Supply Reserve, established after 2012’s Hurricane Sandy damaged refineries and terminals, and left “some New York gas stations without fuel for as long as 30 days.” The Energy Department says this “solicitation is strategically timed and structured to maximize its impact on gasoline prices, helping to lower prices at the pump as Americans hit the road this summer.”