EMMYdiocracy
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Mediocracy is a situation which can occur in a democracy in which mediocre people prevail. The society is then subordinated to a quasi-egalitarian ideology in which words and ideas are redefined by mediocre people, to be convenient for mediocre people. Russian novelist Aleksandr Solzhenitsyn was a frequent critic of mediocracy in contemporary Western countries. || This where the tag cloud goes if the tag cloud loads:

    • reuters: Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion. A debt of that size would equate to roughly four large tanker loads of Iranian crude or about 8 million barrels. “Shell is working hard to figure out a way to pay NIOC,” said an industry source, who requested anonymity. “It’s very sensitive and very difficult. They want to stay on good terms with Iran, while abiding by sanctions.” A Shell spokesman declined to comment. Read more: Shell scrambles to pay huge bill for Iran oil

    reuters:

    Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because European Union and U.S. financial sanctions now make it almost impossible to process payments, industry sources said

    Four sources said the oil major owes a large sum to the National Iranian Oil Co (NIOC) for deliveries of crude, with one putting the figure at close to $1 billion. A debt of that size would equate to roughly four large tanker loads of Iranian crude or about 8 million barrels.

    “Shell is working hard to figure out a way to pay NIOC,” said an industry source, who requested anonymity. “It’s very sensitive and very difficult. They want to stay on good terms with Iran, while abiding by sanctions.”

    A Shell spokesman declined to comment.

    Read more: Shell scrambles to pay huge bill for Iran oil

    (via socialuprooting)

    — 1 year ago with 23 notes
    #iran  #shell  #oil  #$ 
    1. emmydiocracy reblogged this from socialuprooting
    2. newsandtits reblogged this from reuters
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    5. ranx said: sure… I think they hardly sleep at night because they dunno how to pay that $1 billion -_-
    6. the-dis-ease reblogged this from reuters
    7. radiuss reblogged this from socialuprooting
    8. attractiveforehead reblogged this from reuters and added:
      an interesting perspective on the iranian sanction..
    9. endofbabylon reblogged this from socialuprooting
    10. socialuprooting reblogged this from reuters
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    12. reuters posted this
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