The price of oil would soar, probably to well over $100/barrel. The price of gasoline would go to over $5/gallon in the US, more elsewhere. The cost of everything we buy would skyrocket.
It doesn't matter how much various countries specifically import from Iran. The oil market is a world market and removing Iranian oil would affect every oil importing country.
Millions of people would lose their jobs. Others couldn't afford to drive to them. People would be going hungry.
A much better idea is to start a major program to develop alternative sources of energy, and cause the oil price to collapse. When OPEC first tried to raise oil prices the US did exactly that, and the price fell. Unfortunately, we then cancelled the programs.
2007-06-20
06:05:30
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7 answers
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asked by
Bob
7
in
Global Warming