70% American Opinion Be Damned, but Oil Markets May Keep Us from Iranian Attack
Strike on Iran Would Roil Oil Markets, Experts Say Price Hits Record Close; U.S. Tightens Sanctions
By Steven Mufson Washington Post Staff Writer Friday, October 26, 2007; A01
A U.S. military strike against Iran would have dire consequences in petroleum markets, say a variety of oil industry experts, many of whom think the prospect of pandemonium in those markets makes U.S. military action unlikely despite escalating economic sanctions imposed by the Bush administration.
The small amount of excess oil production capacity worldwide would provide an insufficient cushion if armed conflict disrupted supplies, oil experts say, and petroleum prices would skyrocket. Moreover, a wounded or angry Iran could easily retaliate against oil facilities from southern Iraq to the Strait of Hormuz.
Well, American opinion be damned, it would be full steam ahead for an Iranian attack (and still may be) but for disturbing oil markets. Upset…