Screws tighten on Iran as big buyers shun its oil

Reuters ^ | Thu Jan 5, 2012 3:48pm EST | By Peter Apps, Political Risk Correspondent

[Ernest_at_the_Beach]

(Reuters) - Should Iran's rulers ever make good their threats to block the Straits of Hormuz, they could almost certainly achieve their aim within a matter of hours.

But they could also find themselves sparking a punishing -- if perhaps short-lived -- regional conflict from which they could emerge the primary losers.

In recent weeks, a growing number of senior Iranian military and civilian officials have warned that Tehran could use force to close the 54 km (25 mile) entrance to the Gulf if Western states impose sanctions that paralyze their oil exports.

In 10 days of highly publicized military exercises, state television showed truck-mounted missiles blasting towards international waters, fast gunboats practicing attacks and helicopters deploying divers and naval commandos.

Few believe Tehran could keep the straits closed for long -- perhaps no more than a handful of days -- but that alone would still temporarily block shipment of a fifth of all traded global oil, sending prices rocketing and severely denting hopes of global economic recovery.

But such action would swiftly trigger retaliation from the United States and others that could leave the Islamic republic militarily and economically crippled.

[Ernest_at_the_Beach]

[struggle]

Of course, this would have all been thwarted if Obama had publicly supported the Iranian rebellion in 2009.

[troy McClure]

Time to drop a few Nukes on Iran.

[Paladin2]

Who scribbled all over that guy’s map?

[bmwcyle]

Dig a canal through the south desert.

[GoldenPup]

Should Iran's rulers ever make good their threats to block the Straits of Hormuz, they could almost certainly achieve their aim within a matter of hours.

BULLSHIT!! The Iranian navy would be scattered on the botton of the Persian Gulf in a matter of hours. Oh, maybe not with Odumbo as pretender-in-chief.

[halfright]

Was just looking at the Map....That is not out of the question with Saudi money. Tell the Iranians to keep their oil. No refineries in the country. They are hosed. Name it the Saudi Kings Canal.

[hinckley buzzard]

This is pretty much Reuters alarmism. If Iran were to try to close the Strait their own oil exports would rapidly go to zero. And probably stay there for an extended length of time.