If nobody attacks Iran's nuclear program, Iran will get nukes and use them - and oil will be going up like a rocket the entire time. Along the way, Arab oil money will buy the entire modern west and we will all have the choice of working for them forever, or trashing capitalism to take it back.
That’s the Catch 22 about this. The higher it goes, the richer they get. It’s not like they are losing any money with it going nearly triple in a year. They are just making triple profits (and I don’t mean the oil companies, I mean OPEC). So we are financing our own downfall. To not drill here and sustain ourselves without giving the Arab world more money until a better alternative vehicle can be created is national suicide IMO.
I think the futures in question are stock index futures (SPX) and not oil futures.
No disagreement for the short-term about Iran but certainly the nation will now have to choose between the conservation model of the Democrats where there is a missing phase between conserve and save the planter or adding supply. The voters have already spoken but big money in Washington is the counter-force now preventing it from happening. It’s going to be quite a process unhinging the money from Washington, depression and major war are probably the unfortunate result, but I will stay hopeful and active as I can be in attempting to change things.