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Bloviating Zeppelin: Iran 'definitely' closing Strait of Hormuz over EU oil embargo

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Monday, January 23, 2012

Iran 'definitely' closing Strait of Hormuz over EU oil embargo


First, from the UK Telegraph:

European Union nations have agreed on an oil embargo against Iran as part of sanctions over its nuclear programme.

With that in mind, Iran has its response. From FT.com:

Tensions in the Gulf could reach a breaking point as a senior Iranian official said Iran would “definitely” close the Strait of Hormuz if an EU oil embargo disrupted the export of crude oil, the semi-official Fars news agency reports.

The announcement came in response to a decision by the European Union on Monday to impose an oil embargo on Iran over the country’s alleged nuclear weapons program.

“The pressure of sanctions is designed to try and make sure that Iran takes seriously our request to come to the table,” EU foreign policy chief Catherine Ashton said.

However, with Washington’s decision to deploy a second carrier strike group in the Gulf, the EU’s attempt to pressure Iran economically could greatly increase the likelihood of all-out war in the region.

The Strait of Hormuz is the vital link between the Persian Gulf and the Gulf of Oman.

It is also one of the most strategic chokepoints in the world when it comes to oil transit.

With world oil output estimated at some 88 million barrels per day in 2011, the US Energy Information Administration estimated that some 17 million of those barrels passed through the Strait.

If economic sanctions sufficiently pressure Iran to retaliate by closing down the Strait, nearly 20 per cent of worldwide oil trade would be impacted, resulting in a massive spike in global energy costs.

With over half a million regular forces and an additional 120,000 personnel in the country’s elite Revolutionary Guard, analysts believe the consequences of a US-led war against Iran would dwarf recent Western-backed military incursions the Middle East.

I only have two words:

It's starting.

BZ

11 Comments:

Blogger Bloviating Zeppelin said...

Start saving your money. You're going to need it. We all are.

BZ

Mon Jan 23, 07:01:00 AM PST  
Blogger Well Seasoned Fool said...

The Appeaser in Chief says Iran "has nuclear rights".

Won't do squat if they take a shot at our carriers.

Mon Jan 23, 10:30:00 AM PST  
Blogger mrchuck said...

It may start with Iran shooting a missile, but this is ok. Our ships with their missile defense systems will defeat them.

Then... this gives us and Israel the right to go blow up all of their shit.Yes, all of it, Including nuclear reactors. The beginning of an overthrow of Iran and the ayatollas, and that little shit Abinajad, or what ever that little un-educated runt wants to call himself.
Bring it on Iran, shoot at us.

Mon Jan 23, 11:02:00 AM PST  
Blogger Haber Monitör said...

Nuclear pressure on Iran from EU countries

http://www.habermonitor.com/en/haber/detay/nuclear-pressure-on-iran-from-eu-countries/101614/

Mon Jan 23, 11:19:00 AM PST  
Blogger Always On Watch said...

Yep, here comes trouble.

This school term, I am teaching a combinations course: Economics and Current Events. Needless to say, th is week's current event will be discussion of Iran and what the consequences can be -- and not just for the Middle East, either.

Perhaps this mess with Iran will awaken some of my students from their lethargy about geography.

Mon Jan 23, 12:02:00 PM PST  
Blogger Bloviating Zeppelin said...

WSF: Mr Obama will be "concerned," and he will "monitor" the situation.

AOW: lethargy may come and hit them in their gesicht when their parents' homes are cold, their TVs and computers don't work and no one can afford fuel.

Perhaps you might include the fact that Mr Obama has REFUSED to allow a Canadian oil pipeline into the country so that LOCAL and not MIDDLE EASTERN oil could more readily be supplied to the country.

Perhaps you might include the fact that we are sitting, ourselves, on the Bakken Reserves -- a field that is thought to be equal or larger than any extant in the Middle East. That we have large, untapped fields of natural gas. That we have huge fields of oil off our very own coasts. And another large field in Alaska's ANWR.

All of which we are NOT allowed to tap, so that we are FORCED to rely on the political intransigence of Middle Eastern countries, the chokepoint of the Strait of Hormuz, and all the hate and discontent that naturally brings.

All worthy of telling your class.

BZ

Mon Jan 23, 12:33:00 PM PST  
Blogger Z said...

two more words: MAN TORPEDOES!

You know, this is almost like a chance to spite US so we attack.......instead of Israel? ya think?

Mon Jan 23, 12:58:00 PM PST  
Blogger Old NFO said...

We've handled it before, but that was under Presidents with balls...

Mon Jan 23, 03:28:00 PM PST  
Blogger Bloviating Zeppelin said...

Z & NFO: in that vein, I'm a tad surprised that Mr Obama has allowed -- or is ignorant of -- two of our carriers in the area. I would have thought he'd say something akin to this being a "naked display of illegal power."

BZ

Mon Jan 23, 03:33:00 PM PST  
Blogger Bushwack said...

Well, Some how this will be overlooked. IF GWB was POTUS, this would be sabre rattling and bullying a peaceful country. Obama in charge? Well, it's okay....

Look Iran will do NOTHING. They will speak like warriors and cower like they always do. Iran is NOT that big of idiots, they just play one on tv. We took out Iraq in a matter of weeks militarily, Iran fought Iraq for how many years? Iran knows if they do ANYTHING to our navy ships in the straight, Obama's "Appeasement" and "Outreach" to Iran will not be able to sustain the outcry of America for Iran to be taken down. This is why Iran will not move aggressively, they may SPEAK aggressively but actions won't happen.

Now if they close the straight that will make ME extremely happy because it will force Obama to do SOMETHING.

Mon Jan 23, 07:35:00 PM PST  
Blogger ∞ ≠ ø said...

Obastard will inevitably choose the most costly course of action. If military engagement is more damaging to the economy, he'll go there. If the Strait shutdown (or even a traffic jam) spikes the price of oil sufficiently he will allow it to happen. His strategy, in every decision he makes, is to weaken the economy to the point of collapse.

Meanwhile he pursues anti- Christian policy, pays unions to maintain their solvency,expands government control and bureaucracy, and legislates police state policies. He is a fascist. There are more leading from behind.

Tue Jan 24, 12:11:00 AM PST  

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