Thursday July 5, 2018

I've Been Thinking:

The United States has threatened to shut all Iranian oil exports and is demanding that all Iranian oil become "toxic" after November 4th.

Iranian President Rouhani posted on his website and then reiterated in a press conference he gave in Bern, Switzerland, that the United States is making a mistake. He said that the United States has not thought through the ramifications of this decision.

In essence, Rouhani said that it will not be possible to have a situation in which Iran is the only country in the region which does not export oil - and mark his words, Iran will make certain of that.

The post on Rouhani's website reads: "The Americans have claimed they want to completely stop Iran's oil exports. They don't understand the meaning of this statement, because it has no meaning for Iranian oil not to be exported, while the region's oil is exported."

At the press conference in Bern when he was asked whether those comments constituted a threat to interfere with the shipping of neighboring countries, Rouhani replied: "Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption ... The United States will never be able to cut Iran's oil revenues."

Rouhani is flat out saying that, if pushed by the United States, Iran will shut the Straits of Hormuz and no one's oil will be shipped. If the Straits are shut it will eliminate 1/3 of the world's oil.

Rouhani is also saying that with the reduction of Iranian oil plus the stoppage of the Straits of Hormuz, the price of oil and all its products including gas will skyrocket.

The United States cannot afford to let that happen.

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