Monday, June 28, 2010

Iran's oil supplies



OPEC Warns War With Iran Would Cause 'Unlimited' Oil Price Hike

Saturday, July 12, 2008              Addressing one — the threat of a U.S. or Israeli attack on Iran because of its nuclear defiance — he warned that his organization was unprepared — and unable — to make up for resulting oil shortfalls.
"It is impossible to replace the production of Iran," OPEC's No. 2 producer, Abdalla Salem El-Badri told reporters at the presentation of the organization's long term oil market outlook. “The prices would go unlimited ... I can’t give you a number.”
The United States and Israel have not ruled out a military strike on Iran as a last option if it does not give up uranium enrichment and heed other U.N. Security Council demands meant to dispel the fear Tehran wants to make nuclear arms.
Tehran produced just over 4 million barrels of crude a day last year — more than 10 percent of OPEC's total production...
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Comment: Sometimes one says as rhetorical figure that this or than implies "unforeseen consequences", yet this formula may exactly express was is in in the case of a military attack on Iran.

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