| Talkback | |
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Title: | The Iran War Tax | |||
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| Name: | Mark Lincoln | | |||
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| City: | Houston | State: | Texas | | |
| The high price of oil is very, very good for Iran. Folks in the `oil patch` tell me that somewhere between $20 and $30 of the current price are based upon speculation that there will be a war with Iran started by either the US or Israel. There is no doubt that the initial run-up in prices a few years ago was motivated by the jingoist threats of the Bush administration. No one seems to know for certain what the effect of such a war would be upon oil prices. The war risk insurance could add as much as $30 per barrel. Any disruption of supplies caused by a new "tanker war" or the temporary closure of the Straights of Hormuz would result in much higher prices. Iran would win from such a rise. . . The US and Israel would lose. No doubt the two "oil men" in control of the US would win too. The rest of us, and the world, would lose. |
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