I’m still not through.
If the oil barrons of the ME think this might actually happen, that their assets might be held hostage, they would sell off and shove off from U.S. investments. The market shock would have people jumping out of windows.
You know whereof you speak. I have some small experience in the field too. As you remember, when Oil hit $147 during Bush II days, a strange thing happened (at least I thought so). Bush sold some oil out of the SPR and did a little jawboning. Oil started dropping and didn’t stop until it hit about $30.
I’ve always wondered what Bush said behind the scenes because the SPR sale didn’t do all that.