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  1. #1
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    How To Lower Petro Prices: Wipe Israel Off The Map

    Israel vs Iran:
    Threat To Oil Prices And The World Economy


    An Israeli strike against Iran’s nuclear facilities would pose a ‘fairly grave threat' to the global economy, warns chief economist at UBS.

    http://citywire.co.uk/money/israel-v...conomy/a542438

    An Israeli strike against Iran’s nuclear facilities would likely trigger a surge in oil prices and endanger the faltering world economy, UBS chief economist Larry Hatheway has warned.

    The comments came amid mounting speculation that Israel is preparing to launch such an attack, after a UN report last week said that Iran appears to have worked on designing an atomic bomb and that secret research may still be going on.

    Brent crude oil futures hit a two-month high of $116.48 per barrel on the day of the report, and have remained above $110 since then, despite concerns that the eurozone debt crisis will derail the global economic recovery and sap demand.

    Attributing the recent gains in oil prices to a ‘degree of risk, particularly around the situation in Iran’, Hatheway said a ‘spike’ in oil prices induced by a supply disruption would ‘jeopardise a lot of the things fundamentally that are improving’.

    ‘[It] certainly would make some of those cases, for example in Europe, much, much worse,’ he continued, speaking in a panel discussion at a conference held by UBS in central London today.

    The economist, who is also chief strategist at the Swiss banking giant, pointed out that in the event of an Israeli assault, markets would have to expect some disruption of oil supplies. He cited the risks to production by Iran, the world’s fourth biggest oil producer, and to shipping in the Strait of Hormuz, a strategically important waterway off the coast of the Islamic Republic.

    In 2008, the commander of Iran's Revolutionary Guard, Ali Mohammed Jafari, threatened that Iran would seal off the strait – through which about 15.5 million barrels of oil pass every day – in the event of an Israeli or US assault.

    Speculation over a possible attack by Israel – which regards a nuclear-armed Iran as potentially an existential threat – has grown in recent years, in tandem with Western suspicions that Iran is covertly pursuing an atomic weapons programme. Iran says its nuclear programme is for peaceful purposes only.

    During the discussion, Hatheway pointed out that even though Libya is a smaller oil producer, the revolt against the Gaddafi regime sent oil prices higher. Although this was partly due to the somewhat ‘precious’ quality of Libya’s light, sweet crude, Hatheway said it also reflected the fact that the oil market, despite a weak global economy, is still fairly tight and supply is inelastic.

    It would not be surprising to see oil prices ‘overreact’ on concerns about a supply disruption, Hatheway said. ‘How high oil prices could go, I suppose is more a matter of guess than anything else,’ he added.

    But he said that an Israeli strike against Iran, in addition to the accompanying political risk, would pose a ‘fairly grave threat to what is already a very weak global environment – both financially, as well as of course economically’.


    .


    "The best case against democracy is a five minute conversation with the average voter"
    -- Winston Churchill

  2. #2
    Yawn...'s Avatar
    Yawn... is offline I ain't got time for pedantic Ghandi type internet nerds
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    Quote Originally Posted by dchristie View Post
    Israel vs Iran:
    Threat To Oil Prices And The World Economy
    ....
    Newsflash:
    A war in the middle east would cause a disruption in oil supplies spiking oil prices.

    Golly, who would have guess that....

  3. #3
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    "The best case against democracy is a five minute conversation with the average voter"
    -- Winston Churchill

  4. #4
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    Quote Originally Posted by kazza View Post
    Ahhh.... but when you want to kill 1.7 million that's ok, right? Because they're Muslim women and children and they don't count, right? Killing Jewish children is wrong, but killing Muslim children is ok.


    http://www.scam.com/showpost.php?p=954605&postcount=67
    Nice job feeding two trolls......
    **********
    "I have never understood why it is considered "greed" to keep the money you've earned, but not greed to want to take somebody else's money"

    - Thomas Sowell
    http://www.tsowell.com/

    *********

  5. #5
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    Quote Originally Posted by DoubleP View Post
    Nice job feeding two trolls......
    What else is there to do here?

  6. #6
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    Quote Originally Posted by dchristie View Post
    Thomas Jefferson got the right perspective. (Thanks for the quote.) happily for us, God is also love, and have provided us with the gift of salvation. In the meantime, people who think like this are sure to fall in their own laid out traps.

  7. #7
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    Quote Originally Posted by kazza View Post
    What else is there to do here?
    Good point but at some point some of these reach beyond the shaking of the head and become just sad....
    **********
    "I have never understood why it is considered "greed" to keep the money you've earned, but not greed to want to take somebody else's money"

    - Thomas Sowell
    http://www.tsowell.com/

    *********

  8. #8
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    Re: How To Lower Petro Prices: Wipe Israel Off The

    And how would this solve issues facing the world, and who would wipe Israel off the face of the earth? Iran? Seems to me everyone forgets about nuclear bombs being launched all over middles east if anyone attacked Israel, including all out U.S. launch against whoever attacks Israel first.

    And all for what, oil? Oil prices will be dropping like a rock over the next few years, and this will choke Iran economically as well as all of middle east oil countries, so all we have to do is be patient, not see anyone attack anyone and watch what happens, peace, for no longer will oil be the economic weapon it has been for decades.

    Keystone pipeline will be approved from CAN to U.S., and this alone will supply nearly half of U.S. consumption. Second, Montana shale oil extraction technology will produce the other half of U.S. consumption, and if that is not enough, then recent commercial release of hydrogen fusion breakthrough by Rossi which has been released which will provide unlimited power potential to put the final nail in coffin of middle east oil. So who needs to bomb anyone given what is about to unfold in the ****** arena.

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