Posted on 10/10/2012 12:51:58 PM PDT by LSUfan
Oil prices “could double,” increasing the U.S. price of gasoline by up to $2.75, if Iran is permitted to obtain a nuclear weapon, according to a new economic analysis by a bipartisan team of current and former government officials.
While much attention has been given to the costs of preventive military action against Iran, a new report by the Bipartisan Policy Center shows that, over time, “gasoline prices could increase by more than 70 percent,” sending America “into a severe recession” and costing the country “more than five million” jobs.
“If any of the conflicts or energy disruptions that become more likely from a nuclear Iran actually occur, the energy impact and economic consequences would be more severe,” the report states. “Inflation could skyrocket to almost 5 percent,” leading to widespread job loss.
Authored by a team of former military leaders, economists, and lawmakers, the report examines a handful of scenarios that could result if Iran is permitted to obtain a nuclear weapon. In each outcome, oil and gasoline prices increase exponentially.
(Excerpt) Read more at freebeacon.com ...
Don't worry. 0bama will go bow and apologize to the Mullahs, and when nukes start going off in American cities, your bank account, 401K, etc. will be down the list of your concerns.
How much would it cost to nuke Iran out of existence?
Damned if you do, damned if you don’t.
There. Solved it.
Oil prices "could double," increasing the U.S. price of gasoline by up to $2.75, if Iran is permitted to obtain a nuclear weapon...Carter-Mondale's fault, Clinton-Gore's fault, Obama-Biden's fault.
Of course, it is. More American supply will affect the international market; it will tend to cause international oil prices to drop.
2. Nuclear proliferation in Islamic nations is a very bad thing. http://nycright.blogspot.com/2010/08/nuclear-iran-means-nuked-american-city.html
Yes, it is. I never intimated anything to the contrary.
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