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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:
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.
Washington has little - leverage, save its ability to temper an immediate escalation by Israel (leverage the U.S. can still apply, at least for the moment). It also has some indirect influence on what the E.U. does.
Meanwhile, Saudi Arabia also is a wild card. It will not tolerate a nuclear Iran.
And yes, there are ample indications that American and Israeli intelligence have concluded Iran will achieve the ability to develop nuclear weapons in the next 18 to 24 months.
Some elements of that process will be available earlier, but remember: A weapon is of little value unless it can be controlled and delivered. The logistical and infrastructure considerations need to be in place first.
Yet with such an inevitable conclusion staring them in the face, the West has decided to embark on a risky path...
The target here is not the nuclear project at all (over which there is less and less outside control). Instead, it has become about creating massive domestic instability to bring down a regime.
Now, this is not about ending the theocracy. With or without Mahmoud Ahmadinejad as president or Ali Khamenei as supreme leader, Iran will remain a Shiite-dominated country. Religion decisively controls politics, and the clergy oversees the society.
The West is seeking a more moderate application of what will remain the Iranian cultural reality.
However, as the brinksmanship intensifies, so will the price of crude oil. Tehran, in this dangerous game of international chicken, really only has one card to play - the Strait of Hormuz.
There has been much misinformation circulated about the strait. Here are the facts.
On any given day, 18% to 20% of the world's crude oil passes through it.
According to the Energy Information Administration, the Strait's narrowest point is 21 miles wide; however, the width of the shipping lane in either direction is just two miles, cushioned by another two-mile buffer zone.
Of greater significance, though, is the fact that most of the world's current excess capacity is Saudi. (This is the oil that can be brought to market quickly to offset unusual demand spikes or cuts in supply elsewhere.) And, unfortunately, Saudi volume must find its way through the same little strait.
If we're unable to access the Saudi excess, that loss guarantees the global market will be out of balance. That will intensify the price upsurge - an upsurge that is already happening.
Now for the question I'm being asked several times a day in media interviews...
Just how bad can it get?
There are three reasons for this - all happening within the last week:
- First was Tehran's successful launch of a satellite, viewed by all in the region as being for military intelligence.
- 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.
- 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.
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.
Brinksmanship in the Straits of Hormuz
So what's being done?Washington has little - leverage, save its ability to temper an immediate escalation by Israel (leverage the U.S. can still apply, at least for the moment). It also has some indirect influence on what the E.U. does.
Meanwhile, Saudi Arabia also is a wild card. It will not tolerate a nuclear Iran.
And yes, there are ample indications that American and Israeli intelligence have concluded Iran will achieve the ability to develop nuclear weapons in the next 18 to 24 months.
Some elements of that process will be available earlier, but remember: A weapon is of little value unless it can be controlled and delivered. The logistical and infrastructure considerations need to be in place first.
Yet with such an inevitable conclusion staring them in the face, the West has decided to embark on a risky path...
The target here is not the nuclear project at all (over which there is less and less outside control). Instead, it has become about creating massive domestic instability to bring down a regime.
Now, this is not about ending the theocracy. With or without Mahmoud Ahmadinejad as president or Ali Khamenei as supreme leader, Iran will remain a Shiite-dominated country. Religion decisively controls politics, and the clergy oversees the society.
The West is seeking a more moderate application of what will remain the Iranian cultural reality.
However, as the brinksmanship intensifies, so will the price of crude oil. Tehran, in this dangerous game of international chicken, really only has one card to play - the Strait of Hormuz.
There has been much misinformation circulated about the strait. Here are the facts.
On any given day, 18% to 20% of the world's crude oil passes through it.
According to the Energy Information Administration, the Strait's narrowest point is 21 miles wide; however, the width of the shipping lane in either direction is just two miles, cushioned by another two-mile buffer zone.
Of greater significance, though, is the fact that most of the world's current excess capacity is Saudi. (This is the oil that can be brought to market quickly to offset unusual demand spikes or cuts in supply elsewhere.) And, unfortunately, Saudi volume must find its way through the same little strait.
If we're unable to access the Saudi excess, that loss guarantees the global market will be out of balance. That will intensify the price upsurge - an upsurge that is already happening.
Now for the question I'm being asked several times a day in media interviews...
Just how bad can it get?
$200 Oil and $6 at the Pump
If Iran closes the Strait of Hormuz, crude oil prices will pop by between $30 and $40 a barrel... within hours.Despite the excess storage capacity in both the U.S. and European markets and the contracts already at sea, oil traders set prices on a futures curve.
In a normal market the price is set at the expected cost of the next available barrel. During times of crisis, on the other hand, that price is determined by the cost of the most expensive next available barrel.
Should the strait remain closed for 72 hours, oil trading will push up the barrel price to $180 in New York, and closer to $200 in Europe.
Now let me put this in perspective for you...
A $1 rise in the price of crude translates into a 3.6-cent rise in the cost at the pump. Within the first week of the strait closure, therefore, pressures in the retail gasoline market will push the price to an average of $6 a gallon.
After one week!
There's no doubt that this will paralyze economic recovery on both sides of the Atlantic. (Delivery costs on everything will go up, and diesel prices will rise quicker than gasoline.) This is apparently what Khamenei has threatened.
All energy options will be on the table, from alternative energy to tapping Canadian oil sands (and approving pipelines to transport it south), moving from gasoline to compressed natural gas for vehicle fuel, and a range of other possibilities.
Of course, none of these options can move quickly enough to stave off collapse.
Now, there is no guarantee any of this is going to happen. But the uncertainty is moving oil up today. And the uncertainty will remain in the market as we come closer to July 1.
That gives us some space to develop the investor's reaction to events.
What the Iranian Crisis Means for Investors
Nothing happens until the beginning of July on the European oil embargo, but the markets are hardly going to wait that long.I am off to London for meetings on the crisis at the end of this month, followed by the annual session of the royal chartered Windsor Energy Group at the castle of the same name, and then on to Scotland for a presentation at the U.K. Energy Policy Center. This crisis will be the center of attention at all these get-togethers, and I will be taking readers of Oil and Energy Investor along with me.
So how, as investors, do we respond to this?
I think it requires a rebalancing your portfolio, as well as revising your exposure to both corporate dividends and the commodity value of oil and gas.
As we move forward, I will be outlining some aspects of that strategy here. If you're looking to benefit from specific stock recommendations, please join my Energy Advantage subscribers.
To learn more about Energy Advantage click here.
Related New and Articles:
- Oil and Energy Investor:
The Iranian Oil Spike - Money Morning:
All You Need to Know About Iran, $200 Oil, and $6.00 Gas - Money Morning:
2012 Oil Price Outlook: How to Profit From $150 Oil - Money Morning:
Prepare for Iran's Market Chaos with the United States Oil Fund (NYSE: USO)
Tags: Crude Oil, E.U., Energy, European oil embargo, Iran, Oil Prices, Strait of Hormuz, Tehran, weapons
This is all based on Iran developing a nuclear weapon system which it is not doing and does not have the ability to do. The US and Israel are pushing Iran into a corner to force them to act so they have excuse to attack them.
The nuclear issue is only an excuse for change of leadership just as it did in Libya and Iraq. It is a global government power grab to destroy any state not yet under its control.
Mr. Stone,
Just because you hope your scenario is reality, does not make it true. This is not some international strategy for world domination — the reality is that development of the Bomb is very close to being a fact. Your theory of international intrigue and the USA/Israeli secret plan is pure nonsense.
Mr Stone: Strange that you know more than the world's intelligence services. You must really be well connected.
How do you know they are not doing it? Because they said so? I love how you know for certain you do not even assume it is, "I KNOW". You don't know nothing, you're education is probably less than a Bachelors.
I assume Israel, US, Canada, UK all know what they are doing and have much more information on the matter than you do. The fact is Iran's past actions have caused this on themselves. They should not have the right to develop Nuclear energy OR weapons.
If you do not like this, tough fucking luck. Erratic and unstable governments should NEVER be allowed to explore the realms of nuclear energy. There is a reason for this, they are insane. They manipulate the Koran for their own twisted desires. I know many Iranians whom have migrated to Canada and are disgusted with the way their country is run, it is frigging pathetic.
Now I am only a student but this shit scares me, these people are fucking mad men. Go cry somewhere else because Iran will be wiped off the face of the earth before they ever get nuclear energy.
this guy should be censored with his pathetic language.
A few days ago I was cleaning out old Emails and ran across a statement from Former UN Ambassador John Bolton that "Iran is just WEEKS away from developing a Nuclear Weapon"…. the email was FROM 2008.
The Bankster/Oligarch/NeoCons have been beating the WAR DRUMS for YEARS…and they may finally get their wish…GOD SAVE US
You are very correct Mr. Stone however many do not wish to wake up to this reality because it exposes them to a real fear they do not want to admit, we have all been living a lie. To start with the U.S. could very easily cure itself of it's dependency on oil. The U.S. is the Saudi Arabia of natural gas and it is a viable alternative to oil and always has been. Case in point, I frequently visit the Dominican Republic and many of the vehicles there use natural gas. I'm not talking about new developed autos, I'm talking about old Nissans, Toyotas, etc. Beat up old cars that run like a kitten. I've seen it with my own eyes and was amazed. Tank fitted inside the trunk. I asked one guy how difficult was it to refit and he said it was fairly simple. Don't you have cars blowing up, is it dangerous- no more than gasoline my friend! Our problem is that we accept to many lies that we are told about everything. Why because we are a bunch of trained monkeys ready to jump every time that use fear to manipulate us. Fear of someone is going to hurt us when we are the perpetrators around the world. Instead of bringing true democracy to the world and showing the right way to maintain peace and harmony our leaders stir up hatred and trouble. People too much listen to sound bites of half truths and lies. What happened in Iraq? Weapons of mass destruction, where are they? So, are we not to be held accountable for the misguided destruction we caused and more importantly, does the average American even understand what we did? Invaded a sovereign country under false pretenses . To say that our intel was wrong is false because indication were given that Iraq did not have these weapons so our question is, who is really leading us and what is there agenda and does it have our best interest at heart. for all who say this is just another conspiracy theorist rambling I say it doesn't take a rocket scientist to connect the dots or even follow the money. The question is, do you have the courage to do so? Most Americans live in fear, fear that they will lose their precious valuables- homes, cars and a lifestyle indulged in over excursiveness built on the backs of the rest of the world. Well, it's coming to an end because no longer can we live by being a country that produces nothing. The sad thing is, the masses do not understand this and our politicians are doing nothing more than cheap parlor tricks to keep us off balance as they do not run the country any way. It is the corporations and the banksters that get their way and yes, the so called elite. When we become a people of what's better for the world instead of just what's best for me, things will change for the better. Faced with a monetary system that says- it's not a matter of if I will fail but when- we will have a chance to scrap the old and retake our freedom back to build a new and better society not just for us but for all.
I suspect there is some truth in what you say Mr Stone. We have seen it befiore and the so called intelligence was simply a fabrication. Isreal has already set the scene by murdering Iranian scientists. Any attack will plunge tghe world into an even bigger economic turmoil.
Kent… Something has been puzzling me concerning what's going on with natural gas. The price is at historic lows and yet companies are drilling like there's no tomorrow.
This seems counter intuitive vis a vis supply and demand. What do you see concerning future pricing of natural gas? I have a considerable investment in a company Texas Energy Holdings Investments, that has properties generating royalties etc that are dependent on gas prices and of course have seen returns plummet in the past 3 years.
Would appreciate your comments.
Richard Carter
Robert,
If you think Iran is the good guy in this issue, by all means… leave the U.S. and move there to support them. American bashing thumbsucker. Sometimes, being the good guy means doing not nice things.
Learn to be a man.
Max…
That's all fine and good, then……anybody who disagrees with mainstream opinion apparently deserves to be drummed out of the country, right? Your "argument," such as it is, conveniently ignores the fact that there is already a dangerous nuclear armed country in the Middle East, namely Israel. Neither the West generally, nor the US in particular, have any right to demand that Iran not develop any nuclear weapons until the same is also demanded of Israel. Anything else is rank hypocrisy.
Don’t make me laugh – The US are not the good guys! The US lies through its teeth and has ulterior motives and the world knows it! And just because an American citizen disagrees with what the Gvt is doing does not mean that person wants to leave the country – STOP with the false sense of patriotism and self glory, it's oh so tiresome! The truth is the US is so much in debt, it can’t think straight. The US has zero intention of paying its debts too and the US thinks the only way out is to start more wars. QEIII is also on the back burner and that’s a FACT.
Iran is NOT a threat and is not looking to fight anyone!! The US has NO right to tell a country whether it can have nukes or not. If Ahmadinejad is such a nut job – where does that leave the likes of the Bush Admin, Blair and cronies?
I think we should all be working together, I am not a bible basher by all means, but at the end of the bible it states the world will be coming to an end, I believe it will eventually happen, all the floods all the fires, all the earth quakes. The new taxes they continue to bring in the government is doing this we are doing this. The tax on the mining companies where is it going, I would like to get a politician to tell us something that is nt being taxed. Even toilet paper is tax, the money should be going to provide the companies with experts to cut our pollution not lining their pockets. Lets think about everything that going on world war is comming because we all are so different in religion, wake up work together and improve what we have, look after it. I have been trading a little while now, and the person that said America was unfounded with killing Israelies well, I do not believe any one has the right to kill another person unless the kill others, every one feels threatened, my heart and everyone in Australis feels for America we donate so much money and time in helping others, but you know what we can go it on our own, we have everything here to do it. We are not racist, byest or any of the above we love every one and everything, so by god wake up and relise that they just want what everyone els has and that is freedom, it has been taken away from them, just like our governments do to us except worse. Love everyone and accept who they are we might live a little longer . LOL :)
and everyone in Australis feels for America
Well more fool you Austraila. The US does not feel for Australia in the same way and that is fact! All the US cares about is having power and control over others and that includes Australia.
Are Saudi Arabia and Iran and Iraq the only places the US acquires oil? I admit it would be a true hardship for Europe. What happened to the Alaskan Pipe Line and the off-shore drilling done on US coasts. The US is not doing eough to develop alternate energy sources.
RobertStone – I 100% AGREE with you! It is the US/UK and Israel that is behind any animosity towards Iran who are NOT a threat to anyone. Even if Iran were to develop nukes who are these three countries to tell them or any other country what they can or cannot have? I have always said that if the US/UK (and Israel) goes into Iran under the same LIES as Iraq, it will be disastrous for the west and fate will see to that all on its own.
I also think it is quite odd that about 12 years ago (and before 911) when the NK’s were bragging about having a missile that could reach the west coast of the US, yet despite the missile failing miserably, the US did NOTHING about it and I can tell you three good reasons why:
1 – There is no oil in e NK
2 – NK does not care about Israel
3 – With over one million strong military compared to the US’s approximate 300K + military, so are stronger.
It seems the US is a failing country and has been failing for about 30 + years. Some say the US financial problems will dwarf that of Europe when this country can no longer kick the can down the road, so this is another reason the US is looking for war, so to try to level the playing field – they will fail! In addition, look at how they have been trying to destabilize China in an indirect way over the last couple + years too.
so who else gets their oil through the straight. (China maybe?) And what are they doing about the situation !!! Shouldn't they be concerned as much or more about the oil or lack thereof ? Robert's statements make for some interesting dialog.
The problem is not Isreal (as they are always blamed for everything that goes wrong in the middle east) or the United states or for that matter the entire civilized nations of the World. It is Iran. I say again Iran. Isreal is a civilized Nation who is constantly being provoked. Isreal is cinsists of a multi-national population including Arabs. So why so much hatred towards your cousins as they are your cousins.
If Iran has nothing to hide, then why do they persist in not allowing a full Nuclear inspection team to freely make a thorough investigation of any place under suspicion. HMMMMMMMMMMMMMM. I wonder why if in fact there is nothing to hide? For Iran to have any Nuclear facilities is signing a death warrant to the world and in fact a very clear case of creating WWW III
I will appreciate receiving your Newsletter. Is there any subscription fee?
Iran will control the Middle East and all of its oil if it does get the bomb in which case you can be sure of $150 plus price of oil and the devistation of the US and Western World economy. This does not even take into consideration the danger to the entire world of fundamentalist crazies developing the bomb in order to arrive at their heavenly reward in a quicker fashion and wiping out the "infidels" at the same time. Perhaps the best option is to prevent Iran from developing a bomb until there is a change to moderate leadership. Come to think of it, a moderate leadership would probably not even waste the money on nuclear bombs.
The east-west balance of power is not at stake here in so far as the US and her ally Israel is concerned. There is nothing anyone can do to overturn it as it's been in effect since 265 BC. It's a God-thing. Only he can say when its time to metamorph to a new power– ie OWG. We will all know when it happens, but Russia will be key.
shakespeare:in all due respect, you are trying to give us all a futurist/dispensationalist approach to current geopolitical issues, which really is a one sided arguement from a religious basis. There are those that believe your scenario, based on prophetic statements in the Bible, have already taken place in the first century, and therefore render any of your statement null.
Iran is now guaranteed to be in the news for months to come if not years. Iranians have been left with no option but to develop nukes, which they easily can since they already have enrichment technology and an industrial base. Iranians now would think in these lines: "if we are already under toughest sanctions possible for something we have not already done, why not go ahead and do it, since we are already suffering and paying the price for it". Once Iran gets the nuke, they can slowly come out of their sanctions since no body would want an angry and enemy nuclear Iran pointed its fingers at it. That is the only logical path it will go. Saudis will have no option but to accept the fact since Saudis do not have any scientific capability and will have to do with US support and influence over them. Israel and US will accept the nuclear Iran, as Japan and US have accepted a nuclear N.Korea. As for oil prices, they will go uphill from here since Iran has alot of leverage over entire oil fields, there from their proxies to their missiles. Only a deal with Iranians can bring the oil price down, until then, expect the oil price to cross 150 dollars this summer without any war, 200 dollars if Iranians test a nuclear device and above 250 dollars if a war happens. These are realities.
I don't enjoy DC's
Petrodollar is the reason , America is reaching to its end
Inside the international political bureaucracy of the United States is a Fifth Column of Zionists who will stop a nothing to involve the U.S. in continual wars in the Middle East. America needs to cut the embilical cord that these Zionists have built up since WWii. Israel is not worth a bucket of warm tobacco juice. This Zionist Fifth Column doesn't give a hoot about the majority of Americans. Their only interest is in taking control of the so-callled 'Promised Land'. When the Messiah was crucified He even tore the curtain that separated 'Most Holy Place' from the rest of the Holy Place in the Temple in Jerusalem. That act signified the end of the 'Covenant' with the Israelites through Abraham. There is no more 'Promised Land' and we suckers are being lied to by the Zionists. What they really want is control of Middle East and its oil riches and they could care less about America and its Constitution and the AMerican Republic!!!!!!!!!!!!…
Mr. Kennedy,
You have ill-gotten information about theology. Your belief is called replacement theology and is an error. When God made His covenant with Israel it was a promise forever and God does not break His promises. May I suggest that you become more biblically literate and ask for guidance from some biblical scholars. in scripture, God says of Israel. "I will bless those who bless you and curse those who curse you". "I will make Jerusalem a burdensome stone" basically for all who try to coerce her to comply with what they want. For the anti-semitic global sentiment toward Israel, God will bring those to judgment like Obama and the other European leaders trying to screw with achieving this peace agreement. Once achieved, you can count down 7 years of tribulation until the battle of Armageddon when Christ returns. Oh, and in the middle of the 7 years, the new world leader (dictator, anti-christ) will break that peace covenant. You can take that to the bank and remember what I wrote in reply to your statement.
Mr Moors; Quote – 'First was Tehran's successful launch of a satellite, viewed by all in the region as being for military intelligence.'
This was a micro-satellite and unless the Iranians can somehow retrieve the Betacam tape from it it will not furnish much intelligence. This is not a US or Russian effort…. If you are going to base fulminatory observations on such under-researched material you must expect a large drop in your credibility index.
I've been telling people for a very long time that oil will be instantly $250 when a decent event happens with Iran. I've then told people that they may be looking at prices quickly up to $650 when full blown war erupts. Can you honestly see Libya supplies coping? Of course not. Buy 2-3 years of storable foods now and water along with anything else you need. Expect power cuts so solar panels and other methods of energy will be of use. Don't rely on electric and remember your gas will be off because the boilers run off electric pumps etc. Get some Calor bottles in and portable heaters off the grid.
Hmmmmm……. There must be something with the succesive US government, post WWII, with few exceptions. When will they learn not to make war unecessarily/occuppy another country. It is like every now and then something strange rages through their empty upstairs.
Personally I fear this is a massive beat-up, war mongering stance. This sounds incredibly similar to the Weapons of Mass Destruction in Iraq that were never found. In the end the US or Baby Bush finally admitted that it invaded Iraq for its oil.
There is a good article on Iran's nuclear program on Wiki.
Iran has never tested a nuclear weapon.
Iran's first nuclear power plant was only opened late 2011 with help from Russia indicating that they are no where near advanced as the US or Israel want us to believe.
The controversy over Iran's nuclear programs centers in particular on Iran's failure to declare sensitive enrichment and reprocessing activities to the International Atomic Energy Agency (IAEA).
Enrichment can be used to produce uranium for reactor fuel or (at higher enrichment levels) for weapons.
Iran says its nuclear program is peaceful, and has enriched uranium to less than 5%, consistent with fuel for a civilian nuclear power plant.
Iran also claims that it was forced to resort to secrecy after US pressure caused several of its nuclear contracts with foreign governments to fall through.
After the IAEA Board of Governors reported Iran's noncompliance with its safeguards agreement to the UN Security Council, the Council demanded that Iran suspend its nuclear enrichment activities while Iranian President Mahmoud Ahmadinejad has argued that the sanctions are "illegal," imposed by "arrogant powers," and that Iran has decided to pursue the monitoring of its self-described peaceful nuclear program through "its appropriate legal path," the International Atomic Energy Agency.
The IAEA reported no evidence of links to a nuclear weapons program.
There is no direct evidence that Iran has nuclear weapons or the ability to delivery them.
Iran has started to trade oil for gold which threatens the $US hegemony which may be behind the US stance. That the $US is the accepted reserve currency for international oil trades is one of the last things that gives the $US value. The world demand for oil has grown exponentially along with the US fiat currency supply. With crippling debt based on unsustainable or unachievable growth the $US is on the verge of collapse; it is possible we are at a massive turning point in history which the US will do anything to delay or avoid.
As usual the US State Department is demonstrating its usual total lack of understanding of countries it deals with, is demonstrating its total lack of knowledge of history and its complete ineptitude and short-sightedness which it thinks can only be resolved by bombing some poor innocent kid somewhere in the world.
Bunch of bloody fools. Business as usual. Bomb something and someone.
I have read all the twisted messages that you twisted people wrote……UGH!
Stop squeeling like slaughtered rats. Just go and buy some OIL stocks and milk the LOOT, my brothers . .
Unfortunately I have to agree with the previous comment….wake-up World before it's too late!
Well thought, but it is clear that Iran will get 'the bomb' ready, no way to avoid this – unless Israel stops them short – the rest of the world will not act. Therefore it is an ethical/political must to bring Iran to negotiate – not with the UN, no, directly multilaterally involving the U.S.A., Europe, Russia and China all together with proposals from the West to Iran which they can accept without losing face. One has to get Iran out of its isolation and boycotts to stabilize this region, which in itself between their religious schisms is already a problem at first hand. The Iranian threats towards Israel and the West in general has to be taken at a second degree and put aside if we, the West, want stability. Iran will not strike first – they do not intend a national suicide. Regards from Switzerland, Frederick
To understand the Middle East mentality, never view through obscured western lens. Understand what is at stake here. For that check out the Koran & the Hadiths. Then review this case. Iran Will develop nuclear weapons & use it. period. Check the Bible. the answers are there.
Wow, opinions are all over the board. Iran will develop a nuke and use it. Iran will block the Straite. Israel will take out Iranian nuke facilities. Oil prices will go to $150 then $200 and up. Gas prices will sky rocket. The US is going down the financial tubes and needs a war. Stock up on two years of food. Kinda makes you want to buy a cabin in the woods and dump all cell phones and computers. The fact is, nobody knows what is going to happen, but from the sound of things, nothing is good. The US needs to develop the Keystone Pipeline now and accelerate natural gas conversion on vehicles and all demand sources. We also need to keep our nose out of everybody's business, and speak softly, but carry a big stick.
Fully agree with R. Stone´s comments, but I wonder how Americans have become so blindsighted by their governments and tolerant of all this stupidity, it is hard to believe that a country fully in debt and with no real solution in the future to ever pay back all the debt which amounts now to more than 100% of GDP keeps embarking in doubious adventures in which none of its citizens will gain a penny, on the contrary, Americans risk ending up like the Germans after WWII, a devaluated dollar that will cease to be the hard currency and the end of whatever is left of the world power it used to have. The US citizens need to wake up and act before they fall from bed one day and discover that teir leaders not only lied to them in Irak, but keep lying to them and the world to justify acts of war like the recent campaign against Iran. The sad thing is that there is nobody with power and leadership capable to stop this nonesense same as it happened with the weapons of mass destrution in Irak, it is a shame that the US keeps telling us all these BS, if anybody believes all these crap, is because two things -he/she is a toddler or is a real thumbsucker!
Hey Jack Dean……why hasn't Fort Knox been audited to see if the gold is still there? If Iran would not allow an "inspection" because it implies guilt, doesn't it mean the same thing with Fort Knox?