Iran Sanctions Could Drive Oil Past $100 a Barrel

AOL.News / ^ | 1/22/2006 | Brad Foss and George Jahn

[ex-Texan]

I am not vouching for the dire predictions raised by this piece of AP reporting. But people ought to know of this report, along with others peredicting even higher oil prices are just around the corner. McCain was talking tough about oil being used for blackmail on FOX News yesterday. 2006 promises to be a very interesting year. Reminds me of that famous Chinese curse of living in interesting times.

[The_Victor]

Now can we drill in ANWAR?

[mysterio]

Well, we better raise prices at the pump 50 cents now. I mean, just in case Iran might do something that might make a future shipment more expensive. And let's all raise our prices at the same time, too. But without colluding or anything.

[RockinRight]

Time to drill in Alaska, and Utah if the reports from there are true.

[in hoc signo vinces]

Ahhhhhhh...looks like my company stock will go up then.

[brownsfan]

"And let's all raise our prices at the same time, too. But without colluding or anything."

Absolutely, oh, and you forgot, natural gas. We should raise that too. See, the supply could be exhausted by a shift from oil to natural gas. But as of right now, people have conserved, so we need to raise rates because they didn't use as much, even though we told them to conserve. And if they had used more, we'd claim supply and demand.

De-regulation... it's good for all of us?

[mysterio]

Oh, believe me, I didn't forget natural gas. I'm sending those crooks $280 today to keep my house at 66 degrees last month.

I can't wait until the day when I have enough cash to get rid of my natural gas furnace. We don't have natural gas electricity here, so if I can ditch that thing, I never have to deal with natural gas payments that are more than a car payment ever again.

[quack]

Do we(the US) even get any oil from Iran?From what I can tell,the answer is no with Canada, Saudi Arabia, Mexico, and Venezuela as the leading suppliers

[Dont_Tread_On_Me_888]

Since the Department of Energy's creation, I believe the figure of funding for that useless department is north of $400 BILLION !

Fat, lazy and inept American politicians are to blame for the fact we are MORE dependent on foreign oil than we were before the department's creation. Blame the stupid American public for the fact we have no more nuke energy plants.

Stupidity in our nation is to blame.

[ex-Texan]

Bolivia new President, Evo Morales, was talking frankly yesterday about nationalizing his country's natural gas resources. He also wants to increase coca production. Oil and drugs. Are they any different if your society is hooked on them? Looks to me like Venezuela, Bolivia, Colombia, Mexico, et al are planning to put the squeeze on the U.S.

[bill1952]

It also controls the strategic Strait of Hormuz, a critical shipping lane in the Middle East.

What nonsense. AP, carrying the anti American flag, once again.
We control that strait, even if they decide to lose all of their assets in the area by fooling with the US.

As far as Iran stopping oil, other countries will pick up some of the slack and our strategic reserves are enough to allow quite a bit of time to end Iran.

Iran is probably just playing the traders to drive up the price.

[bill1952]

Do a search. MaCain has just come out strongly angainst drilling in ANWAR.

[brownsfan]

"I'm sending those crooks $280 today to keep my house at 66 degrees last month."

You realize that most of the posters here consider us dolts for even complaining about such things. The attitude seems to be: "If they can stick it to you, they should. If you don't like it, figure out how to get out of it."

[finnman69]

Sanctions make so sense.

You would have the same oil prices after a military strike which has a an exponentially better chance of eliminating or severely curtailing their nuke program. So why bother with sanctions which will not work.

[ex-Texan]

See my # 11.

[bill1952]

Doesn't matter. Oil is fungible and a shortfall anywhere in the world will drive prices through the roof.

[brownsfan]

"Looks to me like Venezuela, Bolivia, Colombia, Mexico, et al are planning to put the squeeze on the U.S."

Wait! Did you forget where you are? This is FR. That's a GOOD thing. If those countries can squeeze every last nickel out of us, they should.

In reality, it could be good long term, after much short term pain. We won't move to alternatives or drill in ANWR until the pain becomes unbearable.

[Abathar]

I went from natural gas to geotherm electric, with a 3000 sf house and 3 kids our home is totally electric, the largest bill we had this year was $170, that was for all utilities in one payment. I reccomend the water furnace to anyone who has the acreage for the ground loop, or better yet if they have access to a pond then the water loop is the best (thats what we have).

[quack]

You see it....I see it....but the press and most others don't or don't want to see it.The speculation will,once again raise prices more than an actual supply and demand problem.All we would have to do is buy more from Russia.

[elc]

Doesn't matter when it comes to the price of oil.