Why we can’t attack Iran

June 12th, 2008 11:46 am · 0 comments

Not that Teh Leader or Darth Cheney wouldn’t, you understand. But if they do, batten down the hatches:

If the U.S. or Israel so much as drops a bomb on one of its reactors or its military training camps, Iran will shut down Gulf oil exports by launching a barrage of Chinese Silkworm missiles on tankers in the Strait of Hormuz and Arab oil facilities. In the worst case scenario, seventeen million barrels of oil would come off world markets.

One oil speculator told me that oil would hit $200 a barrel within minutes. But Iran’s official news agency, Fars, puts it at $300 a barrel. I asked him if Iran is right, what does that mean?

“Four dollar a gallon of gasoline only reflects $100 oil because the refiners’ margins are squeezed,” he said. “At $300, you have $12 a gallon of gasoline and riots in Newark, Los Angeles, Harlem, Oakland, Cleveland, Detroit, Dallas.”

But freedom marches on. On foot.

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  0 comments  Tags: War in Iran · Oil

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