healthmyths
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- Sep 19, 2011
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- #21
In the truly apocalyptic scenario, McNally estimates, a complete cut-off of the 17 million barrels of oil that pass through the straits each day could cause the price of oil to rise as high as 320 percent which would likely tip the global economy into recession.
Now, its unlikely the U.S. would allow that to happen. But even lesser disruptions (if, say, Iran started harassing ships or decided to cut off some of its exports)
could push the oil price up $20 or $40 or more the sort of spike that could really put the brakes on economic growth.
The world is too hooked on oil and theres not enough spare crude around to avoid serious pain. So that leaves the military option: The most effective and credible way to limit and shorten the oil price spike, McNally concludes, will be for the military to quickly and convincingly reopen the Strait to tanker traffic.
Could the world handle an Iranian oil crisis? - The Washington Post
Again those idiots that don't understand global/petro economics here is a MAP showing STRAIT of HORMUZ.
The Strait of Hormuz is the world's most important oil transit chokepoint
The Strait of Hormuz is the world's most important oil transit chokepoint - Today in Energy - U.S. Energy Information Administration (EIA)
NOTE Kuwait location... and WHY Saddam invaded Kuwait... and of course idiots again argue "blood for oil" HELL YES!!!!
Now, its unlikely the U.S. would allow that to happen. But even lesser disruptions (if, say, Iran started harassing ships or decided to cut off some of its exports)
could push the oil price up $20 or $40 or more the sort of spike that could really put the brakes on economic growth.
The world is too hooked on oil and theres not enough spare crude around to avoid serious pain. So that leaves the military option: The most effective and credible way to limit and shorten the oil price spike, McNally concludes, will be for the military to quickly and convincingly reopen the Strait to tanker traffic.
Could the world handle an Iranian oil crisis? - The Washington Post
Again those idiots that don't understand global/petro economics here is a MAP showing STRAIT of HORMUZ.
The Strait of Hormuz is the world's most important oil transit chokepoint
The Strait of Hormuz is the world's most important oil transit chokepoint - Today in Energy - U.S. Energy Information Administration (EIA)
NOTE Kuwait location... and WHY Saddam invaded Kuwait... and of course idiots again argue "blood for oil" HELL YES!!!!