Boycott Iran's Oil Immediately
The outrage we are witnessing on television and over the airwaves is an abomination to all fair minded people. To see the street beatings of innocents, the shooting of demonstrators, the silent march of millions has exposed the emptiness and extremism of the governing mullahs. How it will evolve is yet to be determined while the world watches and absorbs the tweets and blogs evidencing the use of brute power against the demonstrators.
There is no doubt that the current Iranian government holds two trump cards. The first is guns, and a trained and disciplined coterie of government enforcers to turn on the dissidents. The second of course is the huge cash flow coming from the sales of oil. As Tom Friedman pointed out in today's New York Times Op-ed "Bullets and Barrels", the mullahs have been using their oil income to "buy off huge swaths of the population with... subsidized food and gasoline. It's also used its crude to erect a vast military force-namely the Revolutionary Guard and the Basij militia-to keep itself in power".
Well there is something that could be done immediately to show the world's solidarity with the courage of the demonstrators and to show its disgust with the behavior of the Iranian Government. We, the world, can stop buying Iranian oil. Though the United States does not currently import Iranian crude, the fungiblity of oil is such that our government espousing such a boycott would carry a meaningful impact.
The cutoff of Iranian oil shipments through a buyer's boycott is entirely feasible in the structure of today's oil market. Inventories throughout the world are filled to overflowing, supertankers are loaded with 100's of millions barrels oil, lying at anchor at sea waiting for customers or storage on shore.
Most tellingly is the production capability from other sources. Saudi Arabia alone has 4.5 million barrels daily crude production and shipping capability shut in and readily accessible. These 4.5 million/bbl daily production now sitting idle is more than twice the level of Iran's daily exports of some 2.1 million barrels/day.
Without the income from oil, Iran's dictatorship will be increasingly vulnerable. It is long past time that the world draws the line on the political and ethical perversion imposed by those who control the supply of oil. It would be a significant step in breaking oil's grip on our future and an enormous gesture of support to Iran's brave people.
Let the boycott begin as the world's answer to the murder of "Neda".
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Convince me that the hornets' nests of protests haven't been instigated via long-term plans of the CIA and other interested parties, and I might consider boycotting the oil. Otherwise, I'm going to maintain a 'wait and see' attitude. Let Iran solve its own problems without the aid of the CIA's bumbling and fumbling.
That's kind of where I am today also. And I am not quite sure where boycotting Iran's oil would put us at the US gas pumps. With this huge surplus purchased with TARP funds floating around off shore I am currently seeing my prices elevate.
Well meant but completely ineffective. Oil is largely fongible on the world market. If importer A (here USA) has several supply sources and stops buying from one (Iran) , the supplier can still sell to importers B and C (maybe at a slightly lower price) who will now buy less from their usual sources. These other oil suppliers (Venezuela or Nigeria anyone ?) will now sell more oil to importer A ..... But until the switch in suppliers has taken place, there will be disruptions and shortages - and therefore price increases - in the importing country. You are shooting yourself in the foot !
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Nobody needs to boycott anyone. The people of Iran are attempting to organize strikes. If the oil workers join in the strikes the regime is done.
Let's hope they succeed as peacefully as possible.
Saudi Arabia is no better than Iran!
Let's boycott them too. (I'm not being sarcastic, I'm serious!)
Of course boycotting could lead to higher oil prices, the bane of Learsy's existence, but that's a price I for one am willing to pay.
I agree, Mr. Learsy, and one way to do it is by investing in alternate forms of energy. The problem is that many congresscritters are looking out for themselves and their corporate sponsors instead of looking out for America's future. Becoming as energy independent as we possibly can should be the goal where the importation of oil from foreign countries is concerned.
There are too many people who tend towards the most wishy-washy path. They don't really want our collective power concentrated towards achieving anything - too extreme - and they don't want to be thought of as just standing on the sidelines. They find some mediocre ineffective act to placate those who would accuse us of inaction and those who would accuse us of over-asserting. Meanwhile, we watch Iran's nuclear program set the stage for world disaster, like a game of chicken, knowing Israel will act first on behalf of the rest of the Middle East, the U.S. and - everyone.
If you feel like you need to do something that's not wishy-washy, I would suggest you join the US army. They need people like you really desperately. People who know how to show force, who can attack the enemy right where he is. Or at least where Dick Cheney said it was.
:-)
Tell us what you know of Iran.
If the US and Europe boycotted Iran's oil that would just lower the price for China who would never boycott over the oppression (since they do the same thing to their people). It would only make oil more expensive for us and cheaper for the Chinese. It is up to the Iranian people to strike as they did under the Shah and stop the flow of oil from Iran to exert the pressure on the government. All a boycott would do is show that we are trying to meddle and make the resistance seem like pawns of the west.
I don't think a boycott by the US alone would be effective, as I believe we currently prohibit business with Iran. But if we could get our allies on board and speak with one voice. It could impact Iran.
We either are willing to sacrifice, and stand by our beliefs, or sell them to the convenience of commerce. Since the current alternative to failed diplomacy with the Iranian regime is war (if we believe the consensus coming from Washington) I'd rather send a financial message of non compliance, first.
Oil is a fungible commodity. Boycott Iranian oil all you want, it won't make a difference. Learn some basic economics before you post such irrelevant articles.
Isn't it only like that for countries with good refinement capacity? Like, if we boycotted Venezuela's oil, they would have to ship further than the nearby United States, upping their costs. But then, wouldn't the whole system reflect the prices of what happens in one country?
This is too confusing for me. I should have paid more attention in high school instead of just smoking pot.
I'm very creative though, so on each path must we each travel.
a boycott they would love as it would drive up the price of oil and make the Saudi's even happier...
Yawn. Iran produces almost 4 million barrels of oil a day. But out of that it already consumes about 1.5 million barrels/day. The difference of 2.5 million barrels is exported. That's a very significant amount of oil that the world needs and will need ever more as other countries are peaking. So if we took it off the market, we shoot our own feet because oil prices would increase significantly (this costing us tens if not hundreds of billions of dollars a year). And there is really no indication whatsoever that the Saudis would be willing to make up for the shortfall. I would even say there would be a lot of cheering from KSA for higher oil prices.
On the other hand, if we were willing to implement a significant gas tax, not only would we consume less but Iran would have to sell it's oil for less, thus lowering income considerably. Now that would be an effective measure. Which is probably why you didn't think of it.
The Saudis are worse than the Mullahs when it comes to human rights.
We will get no help from them.
$50/bbl oil will do as much good as a boycott, that is what the oil surplus
should be used for, moderating the price.
What does Saudi human-rights record have to do with it? Either they think they have more to gain than lose by making trouble in Iran, or the other way 'round.
Dumb idea. We have to be careful not to give the ayatollah & ruling council ANY concrete reason to point to the US as leading a western crusade agains tthe Iranian people... exactly what khomeini did in 78 and 79, and very successfully.
Yes, what the rulers in Iran are doing is disgraceful, and yes, we all want to do something to help the iranian people achieve a true democratic government. Pushing an oil boycott is not the answer. This would have no more effect in toppling the corrupt government in Iran than it's had in Cuba, North Korea, or, previous to our invasion, Iraq (and I assume no sane person is advocating that).
The US treats its protesters as criminals and terrorists,too. Don't be a hypocrite.
I hereby pledge that I will never use any Iranian oil in my electric car! Nor will I use Saudi, Canadian, Mexican, Venezuelan, Russian, British, Norwegian, US, Iraqi, Kuwaiti, UAE, Nigerian, or any other as long as my car and I survive.
How is your electric power generated?
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