Iran’s seizure of several British sailors has provided yet another example of that regime’s dangerous and unpredictable nature, and the markets have responded. Oil futures have topped $60 a barrel, and some analysts have said that Iran has the leverage to push prices over $100 a barrel if it wants to. True, this wouldn’t be a rational decision on Iran’s part, but can we count on that hard-line regime to be rational? I’m sure not willing to give President Ahmadinejad the benefit of the doubt on that front.
Even though we don’t import Iranian oil, its production decisions have a significant impact on the price we pay for energy here in the U.S., and that influence will continue as long as we rely on imported oil to fuel our economy. It’s time to start taking serious steps toward reducing our dependence on oil, thus moving towards energy security, if not energy independence.
This entry was posted on Wednesday, March 28th, 2007 at 1:43 pm and is filed under International Environmental News, Oil and Gas . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
April 16th, 2007 at 2:26 pm
Has anyone thought of the fact that the Iranians are testing the west resolve , especially, after Pelosi, Lantos and Waxman made a very ill conceived trip to Syria and see the policy of defetism promoyed by our Nancy the clueless, Reid, and Komrads???
May 21st, 2007 at 5:19 pm
Nuclear power needs to be made apriority for energy inthe usa.( electrical powqer generation)
For Vehicles the Fuel Cell is, in my opinion, the long term solution.
Ethanol will do nothing but provide an expensive short gap which shall result in higher food prices.