Iran may be part of President Bush’s “axis of evil,” but Taipan Publishing’s Sara Nunnally says it is also a major player in the global commodities market that is now looking to expand its output.

Ambitious new projects to develop the steel and natural gas sectors will dramatically boost production. China and Russia are rushing in to secure supplies. But sanctions prevent the US from investing in Iran.

Sara says ongoing suspicion over Iran’s nuclear program will keep it off the investment table for much of the Western world…

On Tuesday, we published a post by Taipan Daily editor Justice Litle, Why the China Bears Are Wrong.

Justice gave six reasons why China is a buy now. These included the recent correction in crude oil prices, China’s high level of personal savings and the country’s massive foreign reserves.

Today’s Financial News editor J. Christoph Amberger says Justice is wrong about China. The Shanghai and Shenzhen stock exchanges have plummeted since the opening of the Beijing games. J. Christoph says China now looks more like Japan in the ’90s than a strong buying opportunity…

Government subsidies come in more shapes than animal crackers. There are tax breaks, trade protection, trade promotion, labor subsidies, production, procurement and consumption subsidies. And then there are debt guarantees like airline industry loans, student loans, small business administration loans, or government-backed mortgages.

Money Morning Investment Director Keith Fitz-Gerald - one of the first global financial gurus to predict triple-digit oil prices - has boosted his target price for crude oil from $187 to $225.