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Time to Call Iran's Bluff on Oil?

OilPrice.com -- Iranian lawmakers this week expressed support for a measure that would beat the European Union to the punch by cutting off oil exports before the summer. Tehran's measure amounts to a statement of economic warfare to some degree as the European economy continues to drag on the rest of the global market. Yet, if Iran is shipping only 20 percent of its oil to European markets, its more than likely the Europeans would be able to weather the storm.

European lawmakers voted to ban any new crude oil export contracts with Iran and put existing contracts on hold as part of the cat-and-mouse game over Iran's perceived nuclear ambitions. Iranian lawmakers, for their part, said the Europeans might not have to wait very long because Tehran could cut oil exports first, so there!

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Submitted Feb 10, 2012 By: NOTSOGRN

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honda0105 Champion Author Tallahassee Posts:15,984 Points:1,249,100 Joined:Nov 2008	Message Posted: Feb 12, 2012 8:51:40 AM Ignore honda0105 Report Abuse at least so far the so-called spineless president has avoided dragging the US into another war. Instead he is bringing home troops and saving their lives. Iran is not worth the loss of US lives.
1006 Champion Author Birmingham Posts:1,020 Points:1,108,690 Joined:Apr 2008	Message Posted: Feb 12, 2012 8:24:06 AM Ignore 1006 Report Abuse spine is tough to maneuver
niceguytx Champion Author Houston Posts:11,932 Points:2,356,940 Joined:Sep 2005	Message Posted: Feb 11, 2012 10:51:24 AM Ignore niceguytx Report Abuse We need other sources.
mrpc90 Champion Author Illinois Posts:6,323 Points:1,572,465 Joined:Dec 2004	Message Posted: Feb 11, 2012 8:46:03 AM Ignore mrpc90 Report Abuse First, we'd need a President with a spine.... not one that bows to other world leaders.
tomok Champion Author Portland Posts:26,097 Points:1,985,410 Joined:Aug 2006	Message Posted: Feb 11, 2012 3:12:12 AM Ignore tomok Report Abuse Sure, it’s Time to Call Iran's Bluff on Oil! If Iran blocks the Strait of Hormuz with one fifth of the world’s oil not delivered, see what happens next to their Navy and Air Force not being there. Iran needs to play along with the rest of the world or suffer the consequences (Israel can do the job!). The price of fuel at the pump is too high! 12/22/2012!
TWS658 Champion Author Portland Posts:3,521 Points:748,550 Joined:Sep 2005	Message Posted: Feb 11, 2012 2:10:38 AM Ignore TWS658 Report Abuse Ok.
jdc17327 Champion Author Pennsylvania Posts:1,411 Points:142,970 Joined:May 2009	Message Posted: Feb 11, 2012 12:05:41 AM Ignore jdc17327 Report Abuse let them eat it!
OGW Champion Author London Posts:3,752 Points:1,203,060 Joined:Sep 2005	Message Posted: Feb 11, 2012 12:02:44 AM Ignore OGW Report Abuse If you call their bluff, you better have the troops ready to go to war!
badspots Champion Author Houston Posts:1,563 Points:412,920 Joined:Feb 2011	Message Posted: Feb 11, 2012 12:02:36 AM Ignore badspots Report Abuse Ok.
tampacrvdriver Champion Author Tampa Posts:1,731 Points:362,350 Joined:May 2011	Message Posted: Feb 11, 2012 12:00:48 AM Ignore tampacrvdriver Report Abuse I don't think so.
DustyHorse Champion Author Virginia Posts:4,505 Points:1,075,470 Joined:Oct 2008	Message Posted: Feb 10, 2012 11:58:00 PM Ignore DustyHorse Report Abuse Yes.
njerald Champion Author Seattle Posts:6,019 Points:1,272,525 Joined:Oct 2007	Message Posted: Feb 10, 2012 11:57:22 PM Ignore njerald Report Abuse Blockade the Muslims
Dodge_Me Champion Author Atlanta Posts:1,116 Points:238,375 Joined:Mar 2006	Message Posted: Feb 10, 2012 11:56:14 PM Ignore Dodge_Me Report Abuse Yep
Wierbe Champion Author Cincinnati Posts:2,012 Points:764,065 Joined:Apr 2006	Message Posted: Feb 10, 2012 11:55:24 PM Ignore Wierbe Report Abuse Just ignore them, but keep an eye on them.
JesseJack52 All-Star Author Virginia Beach Posts:612 Points:124,640 Joined:Sep 2011	Message Posted: Feb 10, 2012 11:52:16 PM Ignore JesseJack52 Report Abuse Iran's been rattling their saber for 33 years.... like Libya in 1986's "line of death" Remember we bombed the piss out of former dead leader Momar Khadafi compound...Iran bring it on baby!!!!
tippybuddy Champion Author Ontario Posts:1,364 Points:183,735 Joined:Feb 2011	Message Posted: Feb 10, 2012 11:48:00 PM Ignore tippybuddy Report Abuse It scares me to call their bluff but it may be the only way around all of this threatening
majorfall Champion Author New York Posts:14,009 Points:2,773,010 Joined:May 2004	Message Posted: Feb 10, 2012 11:47:21 PM Ignore majorfall Report Abuse It is better to shut off Iranian oil slowly by decree and finding out in time that the world can do without their oil, then to quickly yank it off the marketplace stunning oil market participants.
the_otg Veteran Author Pittsburgh Posts:268 Points:98,040 Joined:Jul 2008	Message Posted: Feb 10, 2012 11:47:03 PM Ignore the_otg Report Abuse Long overdue
tidalwave3 All-Star Author Tallahassee Posts:586 Points:1,136,465 Joined:Jun 2008	Message Posted: Feb 10, 2012 11:45:27 PM Ignore tidalwave3 Report Abuse Call
Beaveronparade All-Star Author Hartford Posts:984 Points:295,500 Joined:Mar 2011	Message Posted: Feb 10, 2012 11:36:04 PM Ignore Beaveronparade Report Abuse I say "Yes"! Time to call their bluff!
texashoudini Champion Author Austin Posts:1,715 Points:786,195 Joined:Jun 2009	Message Posted: Feb 10, 2012 11:36:02 PM Ignore texashoudini Report Abuse Absolutely!!!!
J Eric Champion Author Los Angeles Posts:8,654 Points:1,753,835 Joined:Feb 2004	Message Posted: Feb 10, 2012 11:34:11 PM Ignore J Eric Report Abuse It's ALWAYS time to call Iran's bluff. Five times a day everyone bows toward Mecca. We just sneak up behind and kick their butts.
Vetteblu Champion Author Denver Posts:1,647 Points:469,415 Joined:Oct 2010	Message Posted: Feb 10, 2012 11:32:14 PM Ignore Vetteblu Report Abuse All a bunch of BS.
ysmc Champion Author Providence Posts:8,752 Points:1,693,710 Joined:Apr 2007	Message Posted: Feb 10, 2012 11:31:37 PM Ignore ysmc Report Abuse Iran should eat its oil.
SparkieMi Champion Author Kalamazoo Posts:1,473 Points:239,405 Joined:Sep 2011	Message Posted: Feb 10, 2012 11:31:29 PM Ignore SparkieMi Report Abuse Great post by GoGoGoodyear!!! WELL STATED!!!
feistyfella All-Star Author Georgia Posts:510 Points:116,845 Joined:Jun 2010	Message Posted: Feb 10, 2012 11:30:01 PM Ignore feistyfella Report Abuse 20%
k2kipp Champion Author Minnesota Posts:1,635 Points:842,190 Joined:Sep 2005	Message Posted: Feb 10, 2012 11:23:03 PM Ignore k2kipp Report Abuse time will tell.
CobraJ All-Star Author Tampa Posts:721 Points:326,520 Joined:Mar 2011	Message Posted: Feb 10, 2012 11:21:44 PM Ignore CobraJ Report Abuse Just build a big giant wall, bigger than the Great Wall of China, around the whole country. Better yet, put a big giant glass dome over them.
EVBuddy Champion Author Nevada Posts:14,879 Points:2,674,765 Joined:Sep 2004	Message Posted: Feb 10, 2012 11:20:33 PM Ignore EVBuddy Report Abuse Just Ignore Iran
lyons_coop Veteran Author Kansas Posts:359 Points:92,910 Joined:Jan 2012	Message Posted: Feb 10, 2012 11:18:56 PM Ignore lyons_coop Report Abuse China and India will probably buy it up, maybe at a reduced price.
mstearno Champion Author Dayton Posts:6,376 Points:1,390,440 Joined:Jan 2008	Message Posted: Feb 10, 2012 11:18:55 PM Ignore mstearno Report Abuse time to bomb the butts back to fred and wilma flintstone time
elk54421 Rookie Author Wisconsin Posts:3 Points:116,975 Joined:Nov 2009	Message Posted: Feb 10, 2012 11:14:39 PM Ignore elk54421 Report Abuse ok
Holly123 Champion Author Charlotte Posts:1,615 Points:442,435 Joined:Dec 2010	Message Posted: Feb 10, 2012 11:10:34 PM Ignore Holly123 Report Abuse Will we ever be at peace?
Lukus Champion Author Halifax Posts:6,545 Points:1,323,185 Joined:Nov 2007	Message Posted: Feb 10, 2012 11:06:15 PM Ignore Lukus Report Abuse OK
craigsfrank Champion Author Arkansas Posts:1,748 Points:570,745 Joined:Jun 2010	Message Posted: Feb 10, 2012 11:03:38 PM Ignore craigsfrank Report Abuse I agree..... best comment on the day crowfamily1
bif65 All-Star Author Virginia Posts:792 Points:138,075 Joined:Jan 2011	Message Posted: Feb 10, 2012 11:02:27 PM Ignore bif65 Report Abuse ok
ratones1 Champion Author Los Angeles Posts:1,604 Points:395,280 Joined:Mar 2011	Message Posted: Feb 10, 2012 10:58:35 PM Ignore ratones1 Report Abuse GOOD FOR THEM...
crowefamily1 All-Star Author Texas Posts:797 Points:293,755 Joined:Sep 2006	Message Posted: Feb 10, 2012 10:57:29 PM Ignore crowefamily1 Report Abuse Iran can go and F themselves.
freerobert Champion Author California Posts:1,044 Points:988,765 Joined:Mar 2008	Message Posted: Feb 10, 2012 10:52:51 PM Ignore freerobert Report Abuse Things could lead t a bad situation.
davenles Champion Author Texas Posts:1,396 Points:359,485 Joined:May 2011	Message Posted: Feb 10, 2012 10:47:26 PM Ignore davenles Report Abuse Pushing the limits.
billy44bo Champion Author Mobile Posts:5,647 Points:1,146,545 Joined:Feb 2008	Message Posted: Feb 10, 2012 10:46:11 PM Ignore billy44bo Report Abuse Good for them let the price go up over there.
theschmuck Champion Author Michigan Posts:1,991 Points:1,224,310 Joined:Mar 2007	Message Posted: Feb 10, 2012 10:46:02 PM Ignore theschmuck Report Abuse Increase the sanctions and see how long it will be before the people revolt!
carman11 Champion Author North Carolina Posts:1,475 Points:331,645 Joined:Jun 2011	Message Posted: Feb 10, 2012 10:45:14 PM Ignore carman11 Report Abuse OK Interesting. How big is the mouse?
mrreferee All-Star Author Savannah Posts:652 Points:266,240 Joined:Jun 2011	Message Posted: Feb 10, 2012 10:44:05 PM Ignore mrreferee Report Abuse uke 'em back to the stone-age
gumbyrex Champion Author Fresno Posts:1,502 Points:400,470 Joined:Mar 2011	Message Posted: Feb 10, 2012 10:42:32 PM Ignore gumbyrex Report Abuse Kudos to GoGoGoodyear! Well said.
LegoVasavouchi Champion Author Oklahoma Posts:1,168 Points:79,940 Joined:Apr 2011	Message Posted: Feb 10, 2012 10:40:12 PM Ignore LegoVasavouchi Report Abuse Fascinating.
livedream Champion Author Michigan Posts:1,825 Points:397,270 Joined:Mar 2011	Message Posted: Feb 10, 2012 10:39:42 PM Ignore livedream Report Abuse U.S. oil independence would render Iran irrelevant. But oil is currently the largest U.S. export. This has to stop. If all the oil produced and refined in this country were actually KEPT IN THIS COUNTRY -- we wouldn't need OPEC oil at all, and whatever Iran does wouldn't matter. But will Big Oil put American interests ahead of greedy profits??? I don't think so, either.
Pete12 Champion Author Albany Posts:3,967 Points:1,338,055 Joined:Nov 2005	Message Posted: Feb 10, 2012 10:35:57 PM Ignore Pete12 Report Abuse This is the stupidest thing they could do.
GoGoGoodyear Champion Author Los Angeles Posts:1,035 Points:309,190 Joined:Mar 2010	Message Posted: Feb 10, 2012 10:34:58 PM Ignore GoGoGoodyear Report Abuse Suzzoom said: "This century's cold war. As long as we're talking, we're not blowing each other up." Unfortunately, IMO this is not like the good old cold war between the US and the Soviets. Back then we were facing a potential adversary that had a nuclear arsenal equal to our own and the military and political leaders behind it who understood the meaning of Mutually Assured Destruction (MAD... nice acronym eh?) so neither side was ready to push the button, and it ended up being a show of one-upmanship to see which side had the most destructive power and ability to launch first. After a point, there were so many weapons and so much technology on both sides that adding to the arsenal was pointless as it did not increase the chances of success for either side, but only added to the assured destruction of both sides if either chose to pull the trigger. Fortunately cooler heads prevailed, and our then-president Reagan, playing what would be the best acting part of his entire life, convinced the Soviets that we were building the "Star Wars" defense system which was actually many years away from being more than an idea on paper. This began a new war, not of nuclear arms but of science and technology, and it was a war of attrition to see who could survive the longest financially. We won, the Soviet Union went bankrupt (for various reasons including this) and could no longer afford to spend vast sums on trying to keep up with our latest military science and technology. Compare that with a fanatical Middle Eastern country where almost every man, woman and child believes that all Western civilizations are evil and should be eradicated at any cost like a virus, even the cost of self sacrifice by killing themselves to set off a bomb somewhere. These kinds of ideas are spread from the top down. A country such as this, run by leaders with such beliefs, would spend hardly a moment thinking about the repercussion before pushing the button to launch a nuclear device... even if they only had one. The knowledge that their action would cause retaliation of nuclear havoc to rain down upon their own people would be considered justified for religious reasons, and their leaders will tell them that their deaths would be for the greater good and that they will be martyrs. These are not the minds who should be in charge of the most powerful weapon ever invented. This kind of mind does not understand mediation or talking or thinking it through before taking drastic action. This is why Western countries will do whatever is necessary to prevent a Middle Eastern country from acquiring nuclear capability, because once they have it they WILL use it, and then the only solution will be horrible for the entire planet.
GBMAX Champion Author Phoenix Posts:2,844 Points:1,550,460 Joined:Feb 2005	Message Posted: Feb 10, 2012 10:31:36 PM Ignore GBMAX Report Abuse ok