Iran crisis ‘could drive oil over $90’
Prices climb ahead of critical week as nuclear row escalates. Opec says it won’t increase quotas to cover for production shutdown
Heather Stewart, economics correspondent:
Sunday January 29, 2006: The Observer
Oil markets are braced for a nail-biting week, as world leaders demand action against Iran over its nuclear ambitions, and analysts warn that crude prices could reach $90 a barrel if the oil-rich state retaliates by blocking supplies.
The International Atomic Energy Agency meets on Thursday to decide whether to refer Iran to the United Nations Security Council. Mahmoud Ahmadinejad, Iran’s president, has threatened to respond to any punitive action by cutting off the 2.6 million barrels of oil a day it pumps into the markets – 5 per cent of the world’s supply.
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Do the “logical extension.”
What is petroleum-based? Rubber? Plastics in particular?
Perhaps it’s time to stock up on plastic bags in all forms. Don’t say I didn’t tell you.
Oh, well. Except that would classify me as a Moonbat.
01 28 06
I am taking the wait and see approach with this situation….You sure have a lot of cool graphics on your articles! Would you believe that I came across some blog that I had never seen and they were using that DEM artwork you did with the crying baby!!! Your stuff is going around!
Dude, you are having some great posts!!
I have been bored lately, but will try to post a new one today.
here is a hat tip for you regarding Iran… WE WERE RIGHT IN OUR ASSUMPTION THAT IRAN IS USING OTHER COUNTRIES TO OBTAIN WHAT HE NEEDS FOR A NUCLEAR WARHEAD.. The stuff he is doing at home is a joke… I was right about N. Korea..
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=48554
Mahndisa: I’d love to take credit for the Democratic Crying Baby logo but, uh, ahem, I, eh, “liberated” it from an e-mail that went around a few years ago. Hey, I at least came clean, right? I didn’t claim it for my own!
Rebecca: wow, thanks for the accolades! You’ve had some great posts too; I particularly enjoyed your post about Helen “The Face” Thomas and Israel Victorious. I always like seeing maps used as references in written material, which is why I use them when I can. Great map accompanying that post!
And YES, Iran IS acquiring their materials, as of course they must, for their nuclear program. They produce nothing of the kind so, naturally, they must import, buy, steal, whatever they can!
Another good one. You know they have all those commercials about plastic but we never paid too much attention to it. I don’t see why not do so now. We need to come of the dependency on many of those products of petroleum. I think this is definitely one area that is a big weakness for our country. We need to be less dependent.
Okay, one more question: We have the ability to build our own plants and become less dependent on foreign supplies. I know money is the bigger issue; but in the long run; doesn’t this help America overall? I mean: 1) petroleum production here in America; 2) less American dependency; 3) Americans employed here because of the plants; and 4) helps our economy, right?
So, why can’t Americans see the harm in not supporting American independence? A guess it gets back to the whole apathy thing again.
Neo, Soc: we need more refineries. Spaced around the nation and not just concentrated in the gulf. We haven’t built a refinery in almost 20 years.
We need to drill in ANWR. We need to drill shale oil in Wyoming. We need to be able to drill off our coasts.
We need more power plants. Particularly in Fornicalia.
It isn’t apathy. It’s obstructionist tactics from the Left and Greens.
In my area, fires have destroyed hundreds and hundreds of acres of trees off Interstate 80. These trees should be logged, cut, removed and the areas seeded with new trees. These trees still sit.
Greens.
The forests in my area are a tinderbox because they cannot be thinned.
Greens.
In Sacratomato, my area, three people are in custody for planning to blow up power generations stations, cell phone towers and US Forest Service facilities.
Greens.
But these people paralyze the nation. I understand that we have a responsibility to take of the earth but; there needs to be common sense in this matter. What is so important about this is that as long as the refineries are not here and we fight in the Middle East; the IDIOTS will say we’re there for oil! MORONS! I am going to deal with this in a book project hopefully to come out by the summer.