War in the Economic Jugular Vein of the World
By Steve Christ
Are you ready for ‘OIL’ to skyrocket to $200 a barrel?
Iran is!
And, they’re prepared to play their trump card to send it there.
Faced with a rash of mysterious explosions, military drones caught flying overhead, and renewed promises to end their nuclear ambitions, the Iranians are threatening to close the Strait of Hormuz — otherwise known as “the economic jugular vein of the world” — again.
As Iranian lawmaker Parviz Sarvari said yesterday, “Soon we will hold a military maneuver on how to close the Strait of Hormuz. If the world wants to make the region insecure, we will make the world insecure.”
The announcement came just weeks after Iran’s energy minister told Al Jazeera television that Tehran was prepared to use oil as a political tool in any “conflict over its nuclear program.”
Given Iran’s dominance over this bottleneck for oil exports from the Persian Gulf, this is a promise they can likely keep…
Today’s price of $100 a barrel doesn’t even come close to pricing in the geopolitical calamity closing the Persian Gulf would present.
Just 34 miles wide, thirteen tankers carrying 15.5 million barrels of crude oil pass through the Strait each day, making it one of the world’s most important waterways.
In all, 33% of the oil shipped via tankers passes through the Strait of Hormuz.
The Strait is so vital to the world economy, its closure would be considered an act of war that only the U.S. Navy has the power to fix…
www.wealthdaily.com, December 13th, 2011