Iranian Leader Khamenei Calls for One-Month Oil Embargo Against Pro-Israeli Western Nations

Debka Files ^ | April 5, 2002 | Debka

[freeasinbeer]

Here is the actual story.

Iranian Leader calls for embargo

I agree he has no clue.

[freeasinbeer]

Well, the state sponsored Iranian News Agency says different...

Iranian Leader calls for embargo

[AUgrad]

Just the fact that this has been published (whether credible or not) will probably boost gas prices by the end of the day.

[Citizen of the Savage Nation]

As I recall, the CATO analyst mentioned that within a few years, the Russians will have ramped up their production to the level that will make OPEC almost irrelevant. This could be good news or bad news, given that more supply is welcome but the Russians may not be any more of a long term reliability than OPEC is.

[pgkdan]

Better yet, how about we just go in and take the damned oil that we discovered and run the industry that we allowed those bastards to nationalize.

[Dog Gone]

Debka was right about Khamenei calling for a symbolic embargo. They got it wrong about it shocking the financial markets and sending oil soaring.

The markets are smarter than that.

[Citizen of the Savage Nation]

I believe you are correct, they will have a difficult time trying to keep the US from buying their oil because it goes out into the general marketplace. More likely, given that these Arab economies are addicted to oil revenue like it was crack or heroine, they wouldn't outlast the embargo, a revolution would occur as soon as the money is cut off. No oil money, no support for the dictators.

[BOBTHENAILER]

Russians may not be any more of a long term reliability than OPEC is

Unquestionably a concern. However, with the new discoveries I mentioned in post #19, Offshore West Africa, eastern South America, Caspian region, ANWR & others to come, Russia will be well advised to maintain market share rather than threaten.

[BOBTHENAILER]

Russians may not be any more of a long term reliability than OPEC is

Unquestionably a concern. However, with the new discoveries I mentioned in post #19, Offshore West Africa, eastern South America, Caspian region, ANWR & others to come, Russia will be well advised to maintain market share rather than threaten.

[BOBTHENAILER]

Russians may not be any more of a long term reliability than OPEC is

Unquestionably a concern. However, with the new discoveries I mentioned in post #19, Offshore West Africa, eastern South America, Caspian region, ANWR & others to come, Russia will be well advised to maintain market share rather than threaten.

[BOBTHENAILER]

sorry for the triple post, browser problems. Mucho apologies to everyone.

[rintense]

You are correct. In the case of a boycott/embargo, the US would simply purchase the same oil from a 'middle man'. So, again, the idea of an embargo will only serve to weaken their own countries.

[ASA Vet]

The markets are smarter than that

You're right. The per barrel price of oil will go up little.
However the per gallon price at the gasoline pump will jump.
Any excuse will work as long as we continue to buy the lie.

[Kaslin]

Iraq wanted to start an embargo with 2 other of the OPEC countries

[dennisw]

Thanks for the answers. Due to a lot more oil being sold via the spot market the oil is more fungible. It goes to the high bidder whomever he might be.

[desertcry]

Digging their own graves... That's why they put a limit of 1 month, longer than that these evil arab states will have an explosion of uprisings against their govt. So, I say go ahead, make the USA's day, this will save us from sending our troops to iraq, and iran. I don't think saddam is that stupid, but I can dream, can't I?

[Eva]

You are correct. I was wrong. It looks as though Iran is changing its position on an embargo, following Bush's speech, blaming Iran, as well as Iraq for the situation in Israel.

[Leto]

This reminds me of a cornered criminal where the crook threathens to shoot himself if the cops don't back off. ROTFLMAO. Typical for the Islamist nuts. Great, let them shatter their own economies and cut of the funding for their terrorist, that'll show us.

[Dog Gone]

Iraq wanted to start an embargo with 2 other of the OPEC countries

An embargo only works if a country completely stops producing, because it loses control over the destination of the crude once the ship has left port. It would take ALL of the OPEC countries to shut in production to cause a shortage.

That would hurt us, but it would hurt all oil-importing countries. But it would hurt OPEC far worse. Most of them have crappy little economies that are completely dependent on oil revenue, and an embargo would cause them to instantly lose access to the credit markets.

Our prices would go up, but their lights would go off. It ain't gonna happen.

[rintense]

Hey, I always say dream big and dare to fail. :)