Ramin Mehmanparast, spokesperson for Iran's Foreign Ministry, laid it out for all to hear. Reacting to the possibility of new Western penalties that could reduce its oil exports, he issued a warning that oil prices could more than double to $250/barrel ("Penalties May Send Oil Prices Soaring, Iran Warns," New York Times, 12.06.11).
Really!? Are you afraid? Well don't be. Should Europe cut off imports of Iranian oil, as they already have with Syrian oil in solidarity with the Syrian people's suffering under its current murderous rulers, the impact on the oil market would be minimal. For Iran, given the impact of economic sanctions already in place and beginning to have meaningful effect, it could be fatally disruptive to the current regime.
Consider the following: Europe's daily imports of Iranian oil are approximately 450,000 barrels/day. Europe's total consumption of oil exceeds 15 million barrels/day. The International Energy Agency, charged with the oversight of Europe's strategic oil reserves, controls a supply equivalent to 90 days of European oil consumption, or well in excess of a billion barrels of oil, near double the 750 million barrels held in the U.S. Strategic Petroleum Reserve. Enough, in itself, to cover the Iranian shortfall for several years, more than enough time to effect regime change in Iran.
Then, of course there are the millions of barrels/day excess capacity that could be brought on stream from the Gulf Cooperation Council comprising Kuwait, Bahrain, Qatar the United Arab Emirates, and most especially Saudi Arabia, whose interests viz a viz Iran are in line with the interests of Europe, the United States and the rest of the world's unease at the prospect of nuclear weapons in the hand of messianic fanatics.
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In a worst case scenario, price will be damped by the Demand Destruction Barrier - a definitive petroleum/GDP ratio that kicked in last in July 2008 to halt and reverse crude prices. This threshold is presently $147/barrel for the monthly avg of USA contract crude. The $250 guesstimate is reminiscent of all the cornucopia of $200 to $500 failed predictions offered up by McPeaksters like Jeff Rubin in 2008.
Barrel Meter chart: http://trendlines.ca/free/peakoil/BarrelMeter/BarrelMeter.htm
I would guess you cannot.
So this piece is mere propaganda, and not even honest propaganda.
Still don’t believe me? It convinced the Swedish Skeptics Society: http://www.nyteknik.se/nyheter/energi_miljo/energi/article3144827.ece
http://www.renewableenergyworld.com/rea/blog/post/2011/05/swedish-skeptics-confirm-nuclear-process-in-tiny-4-7-kw-reactor
LENR using nickel. Incredibly: Ni+H+K2CO3(heated under pressure)=Cu+lots of heat. This phenomenon (LENR) has been confirmed in hundreds of published scientific papers: http://lenr-canr.org/acrobat/RothwellJtallyofcol.pdf
Here is a PowerPoint presentation by George Miley of the University of Illinois who has successfully replicated the LENR "cold fusion" reaction: https://netfiles.uiuc.edu/mragheb/www/NPRE%20498ES%20Energy%20Storage%20Systems/Nuclear%20Battery%20using%20Clusters%20in%20Nanomaterials.pptx
According to Forbes, electricity will be "too cheap to meter" if Rossi's Oct 28 demonstration succeeds: http://www.forbes.com/sites/markgibbs/2011/10/17/hello-cheap-energy-hello-brave-new-world/
Here's the latest, according to MSNBC it passed the test: http://www.msnbc.msn.com/id/45153076/ns/technology_and_science-science/#.TrNo9rJqwe4
By the way, here is a current survey of all the companies that are bringing LENR to commercialization: http://www.cleantechblog.com/2011/08/the-new-breed-of-energy-catalyzers-ready-for-commercialization.html
Really!? Are you afraid? Well don't be. Should Europe cut off imports of Iranian oil, as they already have with Syrian oil in solidarity with the Syrian people's suffering under its current murderous rulers, the impact on the oil market would be minimal."
Nope. It's the market manipulators and speculators including hedge fund and private equity firms and multi-nationals oil companies driving up the cost of oil that people should be more concerned about. It seems we never learn our recent past.
Bottom line, this is what will happen: Nothing. Global excess production is under 1 million barrels and that's why prices are as high as they are now. Not buying from Iran not only will send economies of Spain, Greece and Italy that import 13% of their needs from Iran into deep recession, but also will only cause reorganization of supplies. Meaning Nigeria sell oil that was going to china to Europe instead and Iran picks up the slack to China, and everyone makes $20 to $30 more per barrel for their trouble.
you are referring to Israel isn't it? they are sitting on nukes for decades and not a whisper about sanctions etc, why?
But their problem is that they have to import gasoline, and diesel fuel because their few refineries are old and cant come close to the demand.
Prices can be raised in both directions.
As of now the price at the pump in Iran is $0.12, that’s right 12 cents per gallon. How do you think the people of Iran would react if the price jumped to $3.00 a gallon?
2) Iranians pay about $0.70 per liter or $2.50 per gallon.
Deep-water oil drilling ban lifted in Gulf of Mexico - Americas ...
13 Oct 2010 ... The Obama administration has lifted the six-month moratorium on deep-water oil drilling in the Gulf of Mexico that was imposed after the BP ...
www.independent.co.uk › News › World › Americas - Cached►
Gulf drilling ban lifted — with caveat - U.S. news - Environment ...
12 Oct 2010 ... Gulf drilling ban lifted if you 'play by the (new) rules' .... Closed captioning of: Deepwater oil drilling ban lifted ...
www.msnbc.msn.com/id/39633824/ns/us_news-environment/ - Cached
BBC News - Oil drilling ban lifted in Gulf of Mexico
12 Oct 2010 ... The Obama administration has lifted a six month moratorium on deep water oil drilling in the Gulf of Mexico.
www.bbc.co.uk/news/world-us-canada-11528910 - Cached - Add to iGoogle
Gulf Drilling Ban Is Lifted - WSJ.com
13 Oct 2010 ... Gulf Drilling Ban Is Lifted. Oil Industry Still Concerned About Costs, Delays in New Federal Regulations. Article; Video; Comments ...
online.wsj.com/.../SB10001424052748703440004575547980425525408