AIPAC have imposed an oil embargo on Iran (you did not think it was Obummer did you - silly you?). Then guess what - the nerve of them, they set up an embargo of their own and cut off oil to the UK and France. Cutting off oil to the UK is a bit like cutting off coal imports to NEPA, less than 1% of UK imports come from Iran and it's mostly about readjusting refiners ability to process sour oil. So no real effect except guess what, just the threat of the cut off sent the oil markets soaring in the last few days. Look at HO:http://oilprice.com/commodity-price-cha ... &sym=HOH12
Brilliant move, now Iran is making more money from their existing oil, we showed them. China is rethinking the slowdown of Iran imports and is going to have to pay more. SA can't pump more, in fact is now pumping less (see Dec 2011 output). So as global oil is mostly fungible we can't keep up with demand. How long do we think it will take them stupid Arabs to work out that if they just cut off the rest of Europe oil will be $200. Stven Chu will be lap dancing over at the WH, he wanted $8 gas and look like he will get it. As I said before, watch out for an exploding coal market as HO passes $6 a gall.
We are governed by geniuses. I am going to buy a $50,000 Volt to celebrate....... hahahahahahha... I slay myself.