Posted on 01/06/2012 10:14:31 AM PST by maquiladora
(Reuters) - Western powers this week readied a contingency plan to tap a record volume from emergency stockpiles to replace nearly all the Gulf oil that would be lost if Iran blocks the Strait of Hormuz, industry sources and diplomats told Reuters.
They said senior executives of the International Energy Agency (IEA), which advises 28 oil consuming countries, discussed Thursday an existing plan to release up to 14 million barrels per day (bpd) of government-owned oil stored in the United States, Europe, Japan and other importers.
Action on this scale would be more than five times the size of the biggest release in the agency's history -- made in response to Iraq's 1990 invasion of Kuwait.
(snip)
"The IEA is monitoring the situation very closely, and is fairly concerned about it," the diplomat said.
(Excerpt) Read more at reuters.com ...
Ping. Planning for this seems to be at an advanced stage. Wouldn’t be happening unless there was considerable chance of Iran actually going ahead and doing it, IMHO.
Imagine if those kooks ever got the Bomb. They would be intolerable. We should preempt Iran today.
Ping.
While I was filling up, the price on the sign jumped to 3.39. As soon as I stopped pumping, the price on my pump jumped to 3.39.
Today, all of those same stations, 3.49/gallon.
Remember hurricanes in the Gulf during the 60’s? I don’t remember the price of gasoline spiking when there was only a POSSIBILITY of a hit like happens today. Matter of fact the prices didn’t spike if the oil fields were hit !
Obama Taps Strategic Petroleum Reserve; Will Release More If Necessary
Nothing like having Keystone in the “pipeline” just for flashpoints like this happening...
If they get several bombs they will use it on Israel,and not worry about dying in a retaliatory strike.
Having the means to destroy Israel and not doing it would not set well with their God. (Allah)
Thousands of Muslims have voluntarily given up their lives to fight us Infidels; and not to pull the trigger on Israel,when you have the opportunity, will not be forgiven in the next life.
Iran, unlike Pakistan, doesn't have any of our useful Idiots in charge, so the decision to bomb Israel shouldn't be too hard to make for a fundamental Iranian Muslim. - tom
And the Israelis, unlike us, have a keen sense of self preservation and adults in charge.
I think it most likely that the Israelis are VERY well aware of the state of Iranian nuclear capabilities; striking any earlier than necessary would risk too much international condemnation, but they won’t strike too late. I would be very surprised if they didn’t know the exact location of anything they need to take out and just how to do it. And even the Obama administration couldn’t hold them back (or would really try to outside of doing some typical handwringing for show)
the signs do keep pointing in that direction . . .
The oil plan should be turning their navy into a bunch of oil slicks and “artificial reefs” for the fishes.
KT McFarland (FOX contributer, worked for Reagan) says 6-8 weeks and things will happen. Also stated there will always be another next war in the Middle East
having worked at the SPR for 11 years....don’t hold your breath
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