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Ear to the Ground

OPEC: War With Iran Would Cause ‘Unlimited’ Oil Price Hike

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Posted on Jul 10, 2008
oil prices
instablogsimages.com

The price of oil is bad now, but it could get much worse, according to OPEC Secretary-General Abdalla Salem el-Badri, if Iran became embroiled in a military conflict with the U.S. or Israel. If a war occurs, Badri says, there’s no telling how high oil prices might climb.


International Herald-Tribune:

“We really cannot replace Iran’s production - it’s not feasible to replace it,” Abdalla Salem El-Badri, the OPEC secretary general, said during an interview.

Iran, the second-largest producing country in OPEC, after Saudi Arabia, produces about 4 million barrels of oil a day out of the daily worldwide production of close to 87 million barrels. The country has been locked in a lengthy dispute with Western countries over its nuclear ambitions.

In recent weeks, the price of oil has risen higher on speculation that Israel could be preparing to attack Iranian nuclear facilities. The saber-rattling intensified this week with missile tests by Iran. That has further shaken oil markets because of concerns that any conflict with Iran could disrupt oil shipments from the Gulf region.

“The prices would go unlimited,” Badri said during the interview, referring to the effect of a military conflict. “I can’t give you a number.”

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By dihey, July 11 at 2:17 pm #

Are you listening Obama? I am afraid you are not because your recent saber-rattling against Iran is much worse than that of the Bushies. I have filled the gas tank of my car today just to be sure. Perhaps tomorrow, thanks to you I can no longer afford to drive my car. Is this one of your strategies to make the Republicans look even worse than they already do so that I will blame them for the ever climbing gas prices and genuflect to you in November? No way baby! It is your responsibility to tell the Israelis NOW that they must not surprise you with a sneak attack on Iran during the first weeks of your Presidency, if you are elected.

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By Louise, July 11 at 12:10 pm #

“Perhaps OPEC wants to say to the Americans in particular that there would be an economic price to be paid for an attack on Iran,” said Daniel Gros, director of the Center for European Policy Studies in Brussels. “Gulf leaders also know that if a war broke out, the situation of some Gulf states also would become more uncomfortable and could have political difficulties for them domestically,” he said, noting that some have their own Shia minorities.”

~~~

Uncomfortable? What could be more uncomfortable than us paying what we pay for gas now? Paying an arm and a leg maybe?

http://freewayblogger.blogspot.com/2008/07/gas-pump-bl ogging.html

Maybe that’s the problem. Maybe Bush and company haven’t seen enough arms and legs yet. Maybe they haven’t seen any! We know for sure, they’ve never seen a dead soldier flown home!

Impeachment sounds so good. But sometimes, somehow, being tried for war crimes sounds even better.

Picture it. Bush and Cheney and a whole lot of their advisors in leg irons, waiting for their sentence.

One thing for sure ... that “presidential library” would be a lot more interesting to visit.

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By Intellectually Honest, July 11 at 7:47 am #
(Unregistered commenter)

I guarantee that the President really wants to go to war, but there is a faction in the Administration that doesn’t want a war.  Our leader is not really a rational man.  People have believed all along that they could ‘come to an accomodation’ with him, but that has never been the case.  We have had a two-term President who is basically mentally ill.

Believing that going to war with Iran is a good thing is a clear sign of mental illness.  It would send oil prices to the roof, lead to innocent people’s death, seal the U.S’s reputation as a pariah forever, perhaps like Nazi Germany and possibly increase starvation all over the world with the economic damage.  The Iraq War was bad enough.  Who wants to fight for the likes of William Krystol, Joe Liebermann and the Administration?  Maybe a few patriotic individuals in 2001 and 2002, but no more.

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By jmndodge, July 11 at 4:53 am #

are no magic bullet against the invasion of Iran, indeed, it seems that the Iraq war was fought to bring up the price of oil, which was very successful by the way.  The oil industry now losing control, (unless elections were prevented) could lock us into a way with Iran and raise prices again, let’s say only to double this time rather than a 5 fold increase, still $300 dollar oil wouldn’t be bad for the multinational corporations making the profiet. Never make the mistake of thinking that lack of knowledge, or wisdom was the mistake of the shrub administration—we need to use his own words, evil was the source of the problem.  Evil is not stopped just because the consquesces are tragic for the majority.

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By Outraged, July 10 at 11:57 pm #

Personally… I think the whole big ol’ BS about gas is just a last ditch effort by those who KNOW the world is FULL OF OIL and they’ve been exposed.  So here we are witnessing their dying pathetic attempt to rake the world over the coals ONE LAST TIME.  But even in this, they should tread lightly..as the people of the world will be their judge, and in this, where will they run, when they run.  Where and how does one take or find refuge, when the WORLD is hunting you.....?

Read Greg Palast’s “Armed Madhouse”, also check out these articles and their assertions.

http://www.globalresearch.ca/index.php?context=va& aid=9557

http://www.globalresearch.ca/index.php?context=va& aid=9471

But don’t stop there folks, seek and ye shall find:

http://www.globalresearch.ca/index.php?context=va& aid=6880

Keep going… google this premise.  The Wall Street Journal has also reported on this “peak oil” myth.

It’s a lie..a big, fat, bald-faced lie.  There IS NO SHORTAGE of oil, there is only those wishing to “create the illusion” that there is.  And these same individuals lie about other great “mysteries of the universe” so.... find out for yourselves, and check to see what “side” any of the nation-state leaders anywhere in the world are on.  Because you see the LIE is much bigger than just America, this is a LIE of stupendous proportions....

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By troublesum, July 10 at 4:35 pm #

This will be Bush’s parting shot at us.  His way of saying F*** you for the 20% polls.

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