Iran is Now a Full-Blown Crisis, Stage Set for $200 Oil By Dr. Kent Moors
Just when it looked like we could take a breather from the Strait of Hormuz, all attention is back on Iran.
There are three reasons for this - all happening within the last week:
1. First was
Tehran's successful launch of a satellite, viewed by all in the region as being for military intelligence.
2. Second, in his toughest talk to date, Iranian Supreme Leader Ayatollah Ali Khamenei
voiced defiance to Western sanctions and pledged open retaliation if they are instituted.
3. Finally, last Thursday, U.S. Secretary of Defense Leon Panetta expressed concern that, if matters continue, Israel could attempt an air-strike takeout of Iranian nuclear facilities
within a month. Iran has been frantically moving essential components of its nuclear program underground to withstand such an attack.
All of this is, once again, leading to a rise in crude oil prices.
What's more, the
EU decision to stop importing Iranian crude starting July 1 will cripple any chance Tehran has to combat escalating economic and political turmoil at home.
Yet Khamenei's defiant tone during his Friday prayer meeting speech indicates that Iran's religious leadership will not wait for the system to unravel.
And that is what makes this both a full-blown and an intensifying crisis.
http://moneymorning.com/2012/02/08/iran ... r-200-oil/
It's all about "how much you made when you were right" & "how little you lost when you were wrong"