The (literally) Billion dollar question for commodities traders is what will be the effect on the price of global energy in the immediate and longer dated aftermath of such a military strike?
Three Scenarios For Oil Production and Prices If Israel Attacks Iran’s Nuke Program - CNBC
Posted by
saraib820 under News
From http://www.cnbc.com 4660 days ago
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Comments
4660 days ago
From everything I understand, Ahmadinejhad has no real power, he is simply the front-man for the mullahs. They have all of the real power, make all of the policies and push all of the buttons. He seems to be really nothing more than a figurehead.
I'm guessing from all of the signs here: large squadrons of fighter jets and aerial tankers flying through the sky daily (rehearsals?), passing out of refurbished gas-masks and nerve-gas antidotes, more and more frequent air-raid drills, etc., that something is in the works.
After the Israeli attack on the Osirak reactor in 1981, Israel received complete worldwide condemnation.
The feeling from what I read is that much of the world is fearful of the Iranian bomb. Countries like the UAE, Kuwait, Saudi Arabia and quite a few others in the ME have endorsed an Israeli attack with rumors that Saudi Arabia, Iraq and Jordan would even grant overfly rights for an attack.
It seems that this time much of the world might agree. But as the article states, especially with the worst-case scenario in which Iran closes down the Srait of Hormuz, what would happen next?
A success might set the Iranian bomb back, but how would the world feel when oil prices climb to $200, $300 or $400 a barrel? How would drivers feel when they are paying $8 per gallon of gas?
Only time will tell I guess.
4660 days ago
4660 days ago
MAYBE, if we're lucky, the mullahs will have clear enough heads not to close off the Gulf - if they do, they'll gain the wrath of much of the rest of the world & force the U.S. carriers into action yet again.
4660 days ago
I noticed he only mentions the mullahs - no mention of Mahmoud Ahmadinejhad.
Ol' Mah might get a little ticked off, too.
Duncan