Chavez: US Attack on Iran Will Spike Oil to $200

[Solar_Power]

Hugo driving up the "fear premium" to cash in more petro-billions.

[CC]

1. Isn't that both Bush's and

Putin's plan anyway?

[Solar_Power]

2. True, but Hugo is the only one making alarming statements

on a regular basis.

He's become quite predictable.

[provis99]

3. if Bush attacks Iran, it will make oil rise to $200

so what's your point?

[Solar_Power]

5. Why would that be the case? Iran barely exports any oil these days

My point is Hugo is making insane and alarming statements hoping to cash is on fear.

Pathetic

[ConsAreLiars]

14. Your point is undermined by your falsifications.

Iran has a lack of refining capacity but is a major exporter.

Pathetic.

[Yukari Yakumo]

16. Wrong.

Iran exports it to China and Russia mostly.

Venezuela, however, does export oil to the US. If Chavez wants to, he could cut off a chunk of our supply, something he has threatened to do at least once before in the past.

[Strelnikov_]

17. Doubt they export to Russia, as Russia is the No. 1 oil producer

And may pass KSA as the No. 1 exporter in 2007 or 2008.

http://www.earth-policy.org/Updates/2007/Update67_data.htm#fig4

[Leopolds Ghost]

19. Doesn't matter who they export it to. It adds to the world supply. Oil is fungible.

It is the most liquid form of currency in the world, since there's a fixed global supply that can be traded worldwide and anyone can use.

[Leopolds Ghost]

20. In addition to which, Iran has strategic denial of the Strait of Hormuz.

They can deny us (and the rest of the world) access to 80% of Persian Gulf oil if we shut off access ti the Iranian oil fields, thus removing any incentive for them not to.

[charlie]

4. I don't care who's saying it

It's all too possible AND it's a threat that'll shake up the Bush bitter enders and the complacent. If the couch-borne patriots want to attack another country, they need to understand loud and clear that it'll cost them personally.

[Solar_Power]

8. Iran is not an oil exporter these days -- so he's claim is incorrect

but his intension is what bothers me

[Strelnikov_]

10. Iran exported 2.37 Mbbl/dy in 2006

Seriously doubt they have went to 0 exports in one short year.

http://www.earth-policy.org/Updates/2007/Update67_data.htm#fig4

[charlie]

11. The 4th largest exporter in the world

Second largest OPEC exporter.

http://www.eia.doe.gov/emeu/cabs/Iran/Background.html

[charlie]

13. In any case, even IF Iran didn't export a drop

the world is waiting for signs that the US is getting its accounts in order. The dollar is teetering. Opening another war front is a guaranteed way to send it into free fall. Oil could rocket past $200, regardless of the oil supply (and nevermind speculators going nuts with more uncertainty injected into the markets by further turmoil in the region). The price of oil in America isn't solely dependent on the export capacity of the countries it attacks.

[Solar_Power]

22. You missed my point. I hate every war. I would end the Iraq war today.

The point is that Chavez makes crazy claims to drive up the price even more so he can cash in.

[CC]

23. This would be the wrong example

to use if you want to convince people Chavez is crazy. It wasn't that long ago that people supposedly "in the know" called others crazy for saying that if things continued as they are oil would reach $100. a barrel. Well been there done that now. Putin needs high oil prices more than Chavez, it is a large part of his power in Russia. With Bush who knows. Keeping his friends rich and getting them richer or just flat out insane? :shrug: I tend to lean toward a bit of greed and a lot of insanity when it comes to our glorious idiot. The more noise the idiot in chief makes against Iran the higher oil prices will go. It is the instability that is setting off the upward spiral and no one has caused more instability than Bush.

[charlie]

26. What?

I didn't miss anything. You were wrong, Chavez was right (and you're still calling his claims "crazy"). I had nothing to say about his motives. Nor did I comment on your standing on war -- it's immaterial, and there's no way I could know your position. If your posts were solely about Chavez's motives, without the absurd claims that Iran wasn't an exporter and an attack couldn't possibly result in $200 oil, you wouldn't be getting lumps about it. You know that, so knock off the disingenous "you missed my point" stuff.

[tkmorris]

15. Dude, you are just plain............. wrong

Iran is a MAJOR exporter of oil. Where are you getting such blatantly false information anyway?

[EFerrari]

25. His "intension"? You mean, "intention", I presume.

Why do you fear Hugo Chavez? Apart from the smear campaign against him, why in the world do you fear his "intensions"?

[Selatius]

9. If you're faulting Hugo for that statement, you might as well fault everybody saying Bush will bomb.

Because Hugo isn't the first one in the world to suggest Bush is brazen enough to go off the deep end.

[EFerrari]

24. You are mistakinng our whore media for Mr. Chavez's statements.

Understandable.

This is the same media that called John Kerry a coward and John Dean a nutcase.

But, go ahead and believe them. I hope that Kool Aid comes in pretty colors.

[Strelnikov_]

6. Chavez is wrong

An attack on Iran will lead to loss of 50% of the worlds petroleum export market, reducing said market from ~41 Mbbl/dy to ~21 Mbbl/dy.

Petroleum will be priceless, with critical demand far outstripping supply.

The US economy will go into recession, or worse. Shortages in fuel and food will occur in short order, as the US imports over 12 Mbbl/dy, and will be bidding using the all powerful dollar against countries with significant export capacity in finished goods in what remains of the worlds export market.

No, Hugo seems to be giving us the rose colored glasses version.


Vlad, on the other hand, is excited. Kinda like some Anton Chigurh stalking the petrodollar.

[HCE SuiGeneris]

7. Fuck $200 a barrel. What about the cost in human life? n/t

[killbotfactory]

12. He's right. If we attack Iran, oil prices will skyrocket

Just another in the long list of reasons why we SHOULD NOT ATTACK IRAN.

On the plus side, exxon will make tremendous profits.

[fascisthunter]

18. I Know You Meant This as an Attack on Chavez

but what Chavez said is probably true and it will not be his doing, although you have alluded that it will. It will be our government's doing for once AGAIN attacking a nation on false pretenses.

[NoPasaran]

21. What will it go to if we attack Venezuela?

Smart shoppers want to know!
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