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The most likely outcome of an embargo on oil purchased from Iran is that the countries participating in the embargo buy less oil from Iran while other countries not participating in the embargo buy more oil from Iran (, ). While this would produce some dislocations, if total world oil production doesn't change, it would have little effect on either Iran or oil-consuming countries, and would basically be a symbolic gesture.
And each of these events was also followed by a recession in the United States. The table below summarizes the average annual growth rate of U.S. real GDP in the 5 quarters following the above oil price increases. Instead of growing at the historical average of 3.2% per year, U.S. real GDP fell in each case.
Originally posted by MortlitantiFMMJ
Hopefully it will push Europe to develop alternative sustainable sources of energy so they're not reliant on Russian and Middle Eastern energy, but I'm sure they'll find a way to mess it up and leave it until things reach breaking point and then still do nothing of note
Originally posted by nightbringr
The OP and Professional cheering on and actually hoping for the suffering of Europeans. Not just government officials, but regular civilians.
Funny, you two are the first to scream bloodly murder when the west does anything to Iran. Is your need for vengence so strong you dont hold yourself to your own standards?
Originally posted by Tw0Sides
The Europeans were planning to endure hardships on the Iranians in the summer, your OK with that though?
Originally posted by syrinx high priest
europe will still buy iranian oil
through a middle man
tail wagging the dog
wonder how oil prices are maintaining in a warm winter ? sabre rattling
Originally posted by Six6Six
What YOU all fail to realize is that IRAN speaks nothing but pure fiction.
The country spouts so many BS lies and stories that no one takes them seriously, even their own citizens laugh at them from behind their closed doors.
They can cut off whoever they want BUT they were already cut off by European Sanctions.
This is good news because the SOONER we nuke Iran and kill it government the sooner we can pillage its oils supplies.
They are a problem country (being Islamic doesn't help) and they need a lesson. Then the oil will be Europes and Americas. GOOD.
The more they antagonize everyone the quicker the destruction of one of the dumbest nations on the planet will commence.
Plus, as the world knows, when it comes to carrying out dumb bombings for the sake of it, America is always just around the corner thinking "we can do that for you, just ask us". Japan anyone?
edit on 27-1-2012 by Six6Six because: (no reason given)
Originally posted by THE_PROFESSIONAL
Let Europe freeze in the winter, we will see how the people of Europe respond to their politicians. I guess the sanctions are not working lol, the Iranian-Pakistani oil pipeline is under construction, and Indian-Iran oil dealings are being dealt in gold. Classic