Iran's energy market: a modest proposal
When my Iranian colleagues and I first wrote to the Iranian Central Bank Governor Nourbakhsh (may he rest in peace) in June 2001, I could never have conceived the road on which I was embarking. As a former director of the International Petroleum Exchange (now absorbed into the globally dominant Intercontinental Exchange), I was writing to warn the governor of the way in which Iran - in common with producers and consumers globally - was being exploited by a cartel of intermediary middlemen traders and investment banks that profited by ...
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