Skip to comments.Iran's Sanction Battle Plan: Halting Oil Exports Altogether
Posted on 10/23/2012 3:17:32 PM PDT by Eleutheria5
Although the amount of oil Iran is producing and selling on the world market has shrunk substantially in recent months, due to U.S. and EU sanctions, Iran has still been selling oil to countries in the Far East like China and that supply, experts say has been one factor in why the price of oil has not risen even more. And on Tuesday, Iran struck back at Western sanctions against it, saying that if the sanctions continued it would stop producing oil altogether.
The sanctions have been the cause of significant economic instability in Iran, according to Western economists. Iran's currency has crashed against the dollar in recent weeks, and inflation has put even basic items out of reach for many citizens. Protests have reportedly cropped up in principal Iranian cities, with police and Revolutionary Guards brutally suppressing the protests.
Iran is demanding that the sanctions be halted, Iranian oil minister Rostam Kasami said Tuesday. Otherwise, he said, we will stop exporting oil.
(Excerpt) Read more at israelnationalnews.com ...
Meanwhile, here is an interesting development in the Benghazi murders. Guy was headed for Syria.
Lunatics. It will spike the price of oil dramatically up and everyone else will make the money except them.
Since they are completely dependent on oil exports, they will probably collapse their own government, which is a good thing.
They are also completely dependent on gasoline imports, which is another way to collapse the country. Cutting off their oil exports and gasoline imports together at the same time while keeping Hormuz open to everyone else would hit them like a nuclear weapon.
The oil revenue is what the Iranian regime uses to buy the loyalty of its supporters. That loyalty will turn to opposition if the goodies stop.
If Iran embargoed, oil prices would go sky high. Our US dollar would fall like a rock, and SCO countries like China and Russia would prepare even faster for nuclear war against us.
Iran refines most of its own fuel. The rest is provided by Asian countries that don’t participate in sanctions.
"When you were young, did you question all the answers?
Did you envy all the dancers who had all the nerve?
Look around you now, you must go for what you wanted.
Look at all my friends who did and got what they deserved."
They rely on income from oil for the majority of their economy. Without it the people would be rioting in the streets in a month.
Anybody moves and the Persian gets it!
Hey Mr. Obama! Want to rethink that pipeline from Alberta yet?