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TEHRAN (Reuters) - Iran will not rule out using oil as a weapon if the United States resorts to military action against the Islamic Republic over its nuclear program, an Iranian oil official said in remarks published on Tuesday.
"When the Americans say that military action in regard to the nuclear issue has not been put aside, Iran can also say that it will not put aside oil as a tool," Iran's OPEC governor, Hossein Kazempour Ardebili, told Iran's Sharq newspaper.
Originally posted by dbates
Iran isn't just claiming that they will stop selling oil. Their intention and threat is to block the Straights of Hormuz. 90% of the oil from the Persian Gulf region is exported through this narrow 21 mile wide passage. To put that into perspective that's over 40% of the world's oil production.
Originally posted by crisko
pieman,
Iran can't stop producing oil (if I understand what you said correctly); they subsidize gas for the population heavily (something like 25 cents a gallon is the cost) and they depend on oil revenues (something like 40% of income is based on oil).
Iran is hurting to a degree as their refining infrastructure is falling apart due to lack of maintenance; as the revenues are being invested in nuclear technology (whatever it's purpose). Because of this, the Iranians themselves are beginning to grumble about such investments.
Hope I made sense, its late.
Originally posted by Dr Love
Our own oil companies are using oil as a money making weapon against us, who the hell cares about Iran??????
Peace
Originally posted by FredT
So perhaps this is a conspiracy worth looking at. How hard would it be for an oil company to hire up some ex-Seals or Blackwood LLC types and fire off a missile from Iran and take out a taker precipitating a spike in thier profits?
Originally posted by FredT
If Iran closes the gulf or even hints that it preparing to do so the spot price of oil will soar. Companies and countries NOT in the ME will see huge spikes in profit.
That aside, here is why I think that this will backfire on Iran. If you shut down the Strait, you are preventing Saudi Arabia and other ME countries from exporting their number 1 trade commodity and that will tank their economies. Let's think for a second... How likely is that other ME countries are going to sit back and passively wait for Iran to open the straights back up? I'm thinking not very likely at all.
These are and should be taken as statements and pre-emptive acts of aggression
Originally posted by sy.gunson
Darn right Mr PieMan
Any country that has no genuine need for nuclear power, which turns down offers of nuclear reactor technology which does not need highly enriched uranium, which insists on creating bomb grade (95% U235) for Russian reactors which only need 10% enriched uranium...any country that says it need nuclear power when it has only enough uranium to fuel it's 7 reactors for 9 months each... Any country which creates a series of long range ballistic missiles and actively threatens to destroy several neighbouring countries, is not embarked on developing nuclear technology for peaceful purposes.
Wake up and smell the coffee PieMan. Your Iranian friends have already issued statements and pre-emptive acts of aggression.
LOL who are You or for that matter who is Israel to determine who is in need of or who should possess nuclear power in the ME or the region?
Originally posted by sy.gunson
Iran has only enough uranium to fuel one nuclear power station for 6.5 years
Iran says they need to build seven and they need to enrich uranium to bomb grade.
The only reactors which need such highly enriched uranium are Plutonium breeders. There is no other purpose for plutonium than to build nuclear weapons.
This from a country which is threatening to destroy Saudia Arabia, UAE, Oman and Isreal plus Nato states which will be within range of the Shahib 5 and 6 missiles.
This is a country which last year provided Shehab 3 missiles to Hezbollah for bombardment of Isreal.
Yeah and pigs can fly too.