By: Dr. Nimrod Raphaeli * Introduction
At its two-hour emergency meeting in Vienna on October 24, the Organization of Oil Petroleum Exporting Countries (OPEC) decided to lower crude production by 1.5 million barrels/day (b/d), effective next month.
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| Syria-Lebanon-Iran |
| Plummeting Oil Prices – Iran's Options |
| 2008-10-31 |
| By: Dr. Nimrod Raphaeli * Introduction At its two-hour emergency meeting in Vienna on October 24, the Organization of Oil Petroleum Exporting Countries (OPEC) decided to lower crude production by 1.5 million barrels/day (b/d), effective next month. |
| Posted by:anonymous5089 |
| #6 Closing the Straits of Hormuz would happen once at most. It's suicide for Iran. |
| Posted by: Darrell 2008-10-31 21:39 |
| #5 The Saudis may actually have to make some choices after a long while, especially since they've basically only made two in their history - sign up with the US post-WWII, and the embargo in the 70's. 1 - cast their lot with China, and/or India, but that seems a bit premature. 2 - make a deal with Iran, which is possible, but not likely permanent; or 3 - make peace with Israel, which has both huge risks and huge benefits. Persian seems to be everyone's oldest historic enemy, from the Aegean to the Indus, and present circumstances can hardly inspire confidence. Making peace with Israel only requires undoing 60 years or so of intensely ugly acts, and requires unusually decisive leadership, both unlikely, but would skewer both the Persians and the Russians as competitors to Europe, let alone beyond. A grand deal would also need to include African neighbors, and uproot Chinese influence there. Doing nothing will probably prevail, but calling Iran's bluff will someday not work. |
| Posted by: Don Vito Omeling5062 2008-10-31 21:33 |
| #4 So their options involve making trouble in Iraq, the Gulf or Israel. They've threatened to close the Straits of Hormuz before, which would hurt us and others, but how long could they keep it closed? OTOH, if the Straits were closed or if they were blockaded as a result of making trouble in Iraq or the Gulf how long would they last without any revenue at all? |
| Posted by: Ebbang Uluque6305 2008-10-31 15:09 |
| #3 Maybe they can get a bail out from Congress. They can try calling back later next week. |
| Posted by: Kelly 2008-10-31 14:47 |
| #2 Does this help or hinder the Second Coming of the Twelveth Iman? |
| Posted by: Richard of Oregon 2008-10-31 13:08 |
| #1 Faster, please. |
| Posted by: WilliamMarcyTweed 2008-10-31 09:17 |