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Tuesday, July 1, 2008

t r u t h o u t | Iran Threatens to Shut Down Persian Gulf Oil Lanes if Attacked

Or how the oil industry can get $400 a barrel.

Beirut - The commander of Iran's elite Revolutionary Guard said the government might shut down vital oil lanes through the Persian Gulf if the country were attacked by the United States or Israel, according to a newspaper report Saturday. Maj. Gen. Mohammad Ali Jafari warned that if there were any confrontation over Iran's nuclear program, Tehran would try to damage Western economies by targeting oil. "Naturally every country under attack by an enemy uses all its capacity and opportunities to confront the enemy," Jafari said to the hard-line newspaper Jaam-e Jam, according to translations of his comments on the English-language website of the semiofficial Fars News Agency. "Iran will definitely act to impose control on the Persian Gulf and Strait of Hormuz," through which 17 million barrels of oil passes each day. "After this action, the oil price will rise very considerably and this is among the factors deterring the enemies," he said.
t r u t h o u t | Iran Threatens to Shut Down Persian Gulf Oil Lanes if Attacked

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