Pakistan and Iran have finalized a 1,600 mile long pipeline to carry gas from Iran through Pakistan into India. The pipeline will cost $7.5bn and will generate a large amount of money in transit fees, since the pipeline will pass through Pakistan. Leaders in both countries say this deal promotes peace and friendship.
The price of oil dropped as Scottish refinery workers ended their two-day strike that halter much of the North Sea’s oil production. After the strike the price of oil dropped fifty cents to $118.25. This comes as a great relief as the oil prices have been ever quickly increasing over the last few weeks, but this recession will not last long.
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