Would oil price spike if Israel and US have a naval blockade on Iran ?

'; Report: Israeli PM Calls for Naval Blockade Against Iran';





';The report says Mr. Olmert told Pelosi that the present economic sanctions on Iran have exhausted themselves, and that aggressive action could be taken that is not violent.';


http://www.voanews.com/english/2008-05-2鈥?/a>Would oil price spike if Israel and US have a naval blockade on Iran ?
Not topical.





Current Events and such go elsewhere.





...Unless you can find a price of oil passage in the Old Testament...Would oil price spike if Israel and US have a naval blockade on Iran ?
The asker is a member of 50 cents party http://www.feer.com/essays/2008/august/chinas-guerrilla-war-for-the-web Report Abuse

I agree this should not be under Religion %26amp; Spirituality.





Oil costs would skyrocket if Iran's oil ports were blockaded. The cost to the industrialized world would be far greater than any political costs to Iran's leadership.





Just the report yesterday in the Jerusalem Post about imminent US military raids against Iran might be enough to cause both oil to increase in cost and for the dollar to sink even lower.





I do not think most Americans fully understand how much the dollar has weakened in the past three years. Not good when fighting a losing war costing $5,000 a second with no end in sight.
The real culprit in the staggering gas prices is the value of the American dollar. If it cost $50.00 a barrel a year ago and the dollar is worth half that now on the foreign exchange, then we need 100 to pay for the same amount we did the year before. The same goes for all goods and services. Did you know that the economic stimulus package that will give us supposed tax refunds any minute now is not backed by the US treasury? No, they just printed more money for the occasion. This of course in the long run will make the situation worse, so get ready to pay more for everything!
It'll spike if a camel farts in the Middle East and Wall Street gets wind of it. As far as Iran's oil, they sell it to China and N. Korea, we don't get any of their oil anyway. But if there is trouble in the Persian Gulf you can guarantee gas will be $6 a gallon.
I doubt any increased military action by us in the Middle East will be good for oil prices, if that's what you mean.








Of course, as it's the Israeli PM calling for it, Israel is free to try it on their own...
If Israel participated in a naval blockade of Iran, a major war would breakout, never mind the price spike.
It will spike if nothing happens.