Iranian officials say that the White House is misleading the public about the details of an interim nuclear agreement reached over the weekend in Geneva.
Iran and Western nations including the United States came to an agreement on the framework for an interim deal late Saturday night in Geneva. The deal has yet to be implemented
The White House released a multi-page fact sheet containing details of the draft agreement shortly after the deal was announced.
However, Iranian foreign ministry official on Tuesday rejected the White House’s version of the deal as “invalid” and accused Washington of releasing a factually inaccurate primer that misleads the American public.
“What has been released by the website of the White House as a fact sheet is a one-sided interpretation of the agreed text in Geneva and some of the explanations and words in the sheet contradict the text of the Joint Plan of Action, and this fact sheet has unfortunately been translated and released in the name of the Geneva agreement by certain media, which is not true,” Foreign Ministry Spokeswoman Marziyeh Afkham told the Iranian press on Tuesday.
Afkham and officials said that the White House has “modified” key details of the deal and released their own version of the agreement.
Iran’s right to enrich uranium, the key component in a nuclear weapon, is fully recognized under the draft released by Tehran.
“This comprehensive solution would enable Iran to fully enjoy its right to nuclear energy for peaceful purposes under the relevant articles of the NPT in conformity with its obligations therein,” the agreement reads, according to a copy released to Iranian state-run media.
Translation: Thanks for the money, now we can build our bomb!
The U.S. has to have a foreign policy. Well-defined, well-structured. You don't have it right now, unfortunately. It's just complete chaos. Confusion. No policy. I mean, we feel it. We sense it, you know."
Members of the Saudi royal family have voiced their displeasure with the Obama administration's approach to the Middle East through private channels and recently in public as well. None of them puts it quite like HRH Prince Alwaleed bin Talal bin Abdulaziz Alsaud.
As for President Obama, his second term is "going downhill completely," he says, adding on several occasions the disclaimer that "this is the impression I have in Saudi Arabia." But it's clear that the Saudis believe that the president's political troubles shape his actions in their region.
Mr. Obama's recent Hamlet act on Syria surprised and infuriated Riyadh. After the worst chemical-weapons atrocity of the war, the American leader heeded long-standing calls for military intervention, then hedged by asking for congressional approval, then nixed airstrikes in favor of a disarmament pact with Syria's Bashar Assad. The civil war continued—with Assad and his Iranian allies lately taking the upper hand. Mr. Alwaleed says of Mr. Obama: "He blinked."
Then came the autumn outreach to Iran's new president, Hasan Rouhani, leading to this week's negotiations in Geneva on Iran's nuclear program. Another "impression" from the prince: President Obama's falling popularity explains his "overeagerness" for an agreement made "very fast to at least put one issue in foreign policy aside" because "he's wounded now across the board." The Saudis view the #$%$ theocracy in Tehran as the biggest threat to the Sunni Arab world.
Though the American public soured on Saudi Arabia after the 9/11 terror attacks were organized by a Saudi, Washington and Riyadh remained on good terms. But now relations are strained.
Iran will get access to $4.2 billion in foreign exchange as part of an agreement under which it will curb its nuclear program in exchange for limited sanctions relief, a Western diplomat said on Sunday.
The diplomat provided no further details of the agreement, which was struck after four days of negotiations between Iran and six major powers: Britain, China, France, Germany, Russia and the United States.
However The Washington Post reported Iran would be allowed to produce limited enrichment of uranium under tight restrictions and heavy monitoring. The Associated Press quoted an unidentified senior Obama administration official as saying the deal does not include recognition of Iran's right to enrich uranium.
The Post said the final language of the deal still has to be worked out, hoping that it would include wording that acknowledges the right of all countries to pursue nuclear energy for peaceful purposes.
The Post also said the two sides "continued to haggle" over the exact details of which sanctions would be lifted but said the hardest-hitting sanctions against Iran's oil and banking sectors would remain at least temporarily.
Iran is expected to get limited sanctions relief on gold, petrochemicals and autos as part of the agreement, Reuters reported.
Chief negotiator and EU foreign policy chief Catherine Ashton announced that a deal had been reached without giving any further details shortly after the talks had dragged into a fifth day. It was signed at a 3 a.m. ceremony in Geneva's Palace of Nations.
"We have reached agreement between E3+3 and Iran," Ashton's spokesman Michael Mann quoted her as saying on Twitter.
The last minute deal came after it appeared talks were on the verge of breakdown. Foreign ministers had struggled Saturday to nail down a landmark nuclear deal , with US Secretary of State John Kerry announcing his imminent departure and Iran's chief negotiator downbeat.
Translation They get a lollipop we get the shaft
If you set a limit-sell order at twice today's price your broker can't lend your shares to short sellers. Maybe we can get a nice short squeeze going.
Based on the interviews and evidence that one analyst collected, he concluded that FAB's business in China is a tiny fraction of what it claims in its SEC filings. FAB's actual profitability would be reduced even further if the company upgraded its pirated content to properly licensed content (assuming that is even possible). Finally, FAB has potentially enormous undisclosed liabilities for guaranteeing minimum investment returns to franchisees and undisclosed potential dilution from common stock issuable to franchisees.
We never thought we'd say this, but thank heaven for French foreign-policy exceptionalism. At least for the time being, François Hollande's Socialist government has saved the West from a deal that would all but guarantee that Iran becomes a nuclear power.
Fom the WSJ:
While the negotiating details still aren't fully known, the French made clear Saturday that they objected to a nuclear agreement that British Prime Minister David Cameron and President Barack Obama were all too eager to sign. These two leaders remind no one, least of all the Iranians, of Tony Blair, Margaret Thatcher, Ronald Reagan or George W. Bush. That left the French to protect against a historic security blunder, with Foreign Minister Laurent Fabius declaring in an interview with French radio that while France still hopes for an agreement with Tehran, it won't accept a "sucker's deal."
And that's exactly what seems to have been on the table as part of a "first-step agreement" good for six months as the parties negotiated a final deal. Tehran would be allowed to continue enriching uranium, continue manufacturing centrifuges, and continue building a plutonium reactor near the city of Arak. Iran would also get immediate sanctions relief and the unfreezing of as much as $50 billion in oil revenues—no small deliverance for a regime whose annual oil revenues barely topped $95 billion in 2011.
In return the West would get Iranian promises. There is a promise not to activate the Arak reactor, a promise not to use its most advanced centrifuges to enrich uranium or to install new ones, a promise to stop enriching uranium to 20%, which is near-weapons' grade, and to convert its existing stockpile into uranium oxide (a process that is reversible).
Saudi Arabia has invested in Pakistani nuclear weapons projects, and believes it could obtain atomic bombs at will, a variety of sources have told BBC Newsnight.
While the kingdom's quest has often been set in the context of countering Iran's atomic programme, it is now possible that the Saudis might be able to deploy such devices more quickly than the Islamic republic.
Earlier this year, a senior Nato decision maker told me that he had seen intelligence reporting that nuclear weapons made in Pakistan on behalf of Saudi Arabia are now sitting ready for delivery.
Last month Amos Yadlin, a former head of Israeli military intelligence, told a conference in Sweden that if Iran got the bomb, "the Saudis will not wait one month. They already paid for the bomb, they will go to Pakistan and bring what they need to bring."
Since 2009, when King Abdullah of Saudi Arabia warned visiting US special envoy to the Middle East Dennis Ross that if Iran crossed the threshold, "we will get nuclear weapons", the kingdom has sent the Americans numerous signals of its intentions.
Yet another foreign policy disaster for the Obama Administration!
Over all, Canada is poised to quadruple its rail-loading capacity over the next few years to as much as 900,000 barrels a day, up from 180,000 today.
The acceleration has come despite a derailment in the lakeside Quebec town of Lac-Megantic in July, in which a runaway oil train bound for a refinery in eastern Canada exploded, killing dozens of people and bankrupting the railway company. That accident and others more recently have renewed concerns about the safety of transporting oil by rail, and given an added argument to some who favor the Keystone XL pipeline.
“They don’t give up,” Jesse Prentice-Dunn, a Sierra Club policy analyst, said of the oil industry.
If all the new terminals are built, Canada will potentially increase its exports to the United States by more than 20 percent — even if Keystone XL is never built.
Shipping by rail can cost an additional $5 or more per barrel, but oil companies have decided that they cannot afford to wait.
“The indecision on Keystone XL really spawned innovation and mobilized alternatives, and rail is a clear part of the options available to our industry,” said Paul Reimer, senior vice president in charge of transport and marketing at Cenovus Energy, a Canadian oil company that is planning to increase rail shipments from 7,000 barrels a day to as many as 30,000 barrels a day by the end of 2014.
Good news: Now building Keystone XL will reduce carbon emissions by cutting down on TRAIN traffic.
Obama killed 20,000 high paying US shovel ready jobs for nothing.
Shorts who were betting against USEC getting funding got squeezed. Short squeezes are fun if you're long a stock, but they unwind quickly. This is, however, good news so the stock should be worth more than before the announcement. It should settle out at $9+ IMHO.
On October 25, 2013, USEC Inc. ("USEC" or the "Company") and its subsidiary American Centrifuge Demonstration, LLC ("ACD") entered into Amendment No. 009 to the cooperative agreement dated June 12, 2012 between the U.S. Department of Energy ("DOE") and USEC and ACD (the "Amendment") for the research, development and demonstration ("RD&D") program for the American Centrifuge project. The Amendment amends the cooperative agreement to provide for additional government obligated funds of $13.6 million, bringing total government obligated funding to $241.3 million.
The cooperative agreement provides funding for a cost-share RD&D program to demonstrate the American Centrifuge technology through the construction and operation of a commercial demonstration cascade of 120 centrifuge machines and sustain the domestic U.S. centrifuge technical and industrial base for national security purposes and potential commercialization of the American Centrifuge technology. The cooperative agreement provides for 80% DOE and 20% USEC cost sharing for work performed during the period June 1, 2012 through December 31, 2013. DOE's contribution is incrementally funded. The other terms and conditions, including the milestones and performance indicators under the RD&D program were not changed by the Amendment.
The $13.6 million of additional government funding provided by the Amendment is for the RD&D program funding period November 2, 2013 to December 31, 2013. Although the $13.6 million of funding ($17 million, including USEC's $3.4 million cost share) is not sufficient to fund the RD&D program through December 31, 2013, the Amendment states that there is an expectation that DOE would provide additional funding for the RD&D program for the funding period ending December 31, 2013. The remaining funding would be made through a subsequent modification to the cooperative agreement, with the amount of such funding to be determined.
The Byzantine Empire lasted a thousand years without a big army. They simply paid potential enemies to fight each other. We actually did a bit of that when we tacitly gave Sadaam permission to attack Iran. It cost almost nothing. Compare that to the money we wasted in Iraq and Afghanistan trying to "rebuild" them and create functioning democracies.
Sadly, I suspect that if it comes to a fight between the stock holders and the bond holders, the bondholders have the upper hand. That may be why the stock has pulled back from its recent $10.
What about nuclear? It is the closest to a zero-emission energy source ever invented and, if you build breeder reactors you can even eliminate the spent fuel storage problem.
Don't forget wind turbines are not only more expensive but they chop up endangered bird species.
They are building the world's most efficient gaseous centrifuge plant for enriching uranium. If they complete it and the laser enrichment plant fails, USEC will become the low cost leader and begin taking market share from its rivals.
That's the bull case for long term holdersz.
For traders, it's a highly volatile stock that recently had the mother of all short squeezes.
AKRON, Ohio, Oct. 16, 2013 /PRNewswire/ -- The Goodyear Tire & Rubber Company (GT) will report third quarter 2013 financial results on Tuesday, October 29, to be followed by an investor conference call at 9 a.m.
Shares of Goodyear Tire & Rubber (NASDAQ: GT ) sank 3% this morning after Deutsche Bank downgraded the tire manufacturer from buy to neutral.
Along with the downgrade, analyst Rod Lache lowered his price target to $26 (from $29), representing about 15% worth of upside to Friday's close. While Lache remains positive on Goodyear's potential to outperform in the short run, he cautions that industry headwinds could weigh on the stock in two to three years.
Note: I'd love to see $26 in the next few months!
The Saudi's are also incredibly PO'd by Obama's flirtation with Iran an inaction on Syria and are seeking closer ties with Russia since they no longer view the US as a reliable ally.
Prince Bandar, head of Saudi intelligence, allegedly confronted the Kremlin with a mix of inducements and threats in a bid to break the deadlock over Syria. “Let us examine how to put together a unified Russian-Saudi strategy on the subject of oil. The aim is to agree on the price of oil and production quantities that keep the price stable in global oil markets,” he said at the four-hour meeting with Mr Putin. They met at Mr Putin’s dacha outside Moscow three weeks ago.
“We understand Russia’s great interest in the oil and gas in the Mediterranean from Israel to Cyprus. And we understand the importance of the Russian gas pipeline to Europe. We are not interested in competing with that. We can cooperate in this area,” he said, purporting to speak with the full backing of the US.
The talks appear to offer an alliance between the OPEC cartel and Russia, which together produce over 40m barrels a day of oil, 45pc of global output. Such a move would alter the strategic landscape. …
As-Safir said Prince Bandar pledged to safeguard Russia’s naval base in Syria if the Assad regime is toppled, but he also hinted at Chechen terrorist attacks on Russia’s Winter Olympics in Sochi if there is no accord. “I can give you a guarantee to protect the Winter Olympics next year. The Chechen groups that threaten the security of the games are controlled by us,” he allegedly said.
In other words the Saudis asked the Kremlin to sell out Assad and make a deal with them. That deal did not fly. But it suggests what the Saudis might do. Given the rising power of American oil and gas in the world markets and the Obama administration’s ineptitude, one wonders whether the Saudi will seek a rapproachment with Moscow.
I am actually long ARRY but unlike every other biotech stock I own, this one is losing me money. I am trying to understand why the stock performance is so poor while the analyst recommendations are so high. The fact that Liam Ratcliffe has been dumping massive quantities of the stock may be a causal effect.
So instead of posting relevant information you think these message boards should just be used for cheer leading and bashing a stock? Interesting...
Novice Secretary of State John Kerry may be setting up for yet another massive foreign policy failure.
As diplomats and journalists look forward to a new round of nuclear negotiations next month (with centrifuges spinning all the while), hope is rampant. Alas, it appears increasingly misplaced. President Hassan Rouhani promises talks—but speaking to the press back in Iran declares Iran’s uranium enrichment non-negotiable. Supreme Leader Ali Khamenei speaks of Iran’s “heroic flexibility,” but his aides bend over backwards to explain that means a shift in tactics, not in policy. Now, Kayhan—a newspaper many Iran watchers pay close attention to because its editor is a Supreme Leader appointee and therefore seems to mirror Khamenei’s positions—has published a lengthy column belittling the notion of confidence-building measures that lay at the heart of Western diplomacy. According to the author:
"When facing the international environment, especially when we are facing the enemies, we cannot begin based on confidence building; because, on the one hand, on this basis, we accept that our behavior and actions in the past have been such that they have created concerns for the other side and resulted in this dispute of several years. In other words, in this very first step, we are signing a document of indebtedness and allowing the rival to write whatever he wants above our signature, and then say, very well, and now you must answer these, for example, 100 questions, one by one, and for the other side to have the option in every case to say whether he agrees or does not agree. Instead of confidence, we must create in the enemy belief, belief in the fact that you have the ability, despite all this opposition and confrontation, to follow your own path. The enemy must believe that the effect of its pressures and the ability to impose pressures is not at such a level as to force the opposite side into submission. "
Bottom line: They're still pursueing the bomb.