Sounds like you need to read this article that was quoted on EnergyBulletin at the beginning of last month.

I can't remember if it talked about what came first; the Chicken (US aggression) or the Egg (Iranian Oil Bourse plans).

According to this article, though, there is a lot more here than meets the eye.

Thanks for the link to the great article.  Unfortunately it didn't answer my first question and it didnt really show how much of an effect on the USD an Iranian oil bourse would have.  I guess i'll have to read the author's book to go more in depth(and maybe take some econ. classes). I highly doubt that the US would overtly intervene in Iran.  It would be suicide.