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 · 7 answers · asked by Bob 7 in Environment ➔ Global Warming
For those who haven't seen it, this idea is repeatedly posted as a way to fight both terrorism and global warming.
2007-06-20 06:13:24 · update #1
It would cause a war with China, which we can't do. Nothing else really would matter after that.
2007-06-20 10:06:32 · answer #1 · answered by Scott L 4 · 0⤊ 0⤋
How much oil does Iran supply to the world market? I don't know that it is enough to rattle the markets much more than they already are.
$3 gas may not be enough for people to change driving habits, $5 gas might do the trick. If people change their driving habits, demand goes down, thus supply will increase, thus causing a fall in prices again. Also, if the supply looks to be severly constricted for a long time, the shale oils and oil sands will then become viable oil sources. This will increase supply and reduce prices as well.
Supply and demand are still at work. We may never see $2 gas again, but we won't stay at $5 gas for very long.
On a political note, a number of Democrats in this country have long advocated for a very substantial increase in the federal tax on gasoline as a way to reduce demand and pollution. Now that the market is doing it for them, shouldn't they be happy that prices have risen? Well they aren't, they are probing for price gouging (again) and finding nothing (again). If it isn't due to governmental meddling, the Democrats aren't happy.
2007-06-20 06:34:44 · answer #2 · answered by Marc G 4 · 1⤊ 0⤋
Cause the oil price to collapse by developing alternative sources?
Well, that's assuming the alternatives are cheaper than oil.
You don't suppose, Bob, that the market place (you know, Corporate America, China, Japan, France, Russia) is fully motivated to find such an alternative?
You want to START a major program to develop...
What do you mean START? We are funding universities out the wazzoo. Why don't some of these professors quit whining about global warming and do something about it?
2007-06-20 06:33:29 · answer #3 · answered by Anonymous · 0⤊ 1⤋
But, maybe that would be the additional catalyst we need to get moving on alternative fuel sources and conservation measures. Just look at how much attention and innovation, in terms of Hybrids, Biofuels, Hydrogen Powered vehicles, Solar Energy, etc. has resulted from gas going from ~ $1.50 a gallon to ~$3.00 per gallon?
I hate paying 3 bucks a gallon for gas and would hate even more to pay 5 bucks a gallon, but I would be accepting of it if it were to spur further conservation efforts and more experimentation, innovation and incentives on the alternative fuels / alternative energy sources front.
2007-06-20 06:24:21 · answer #4 · answered by 2007_Shelby_GT500 7 · 0⤊ 0⤋
I agree, and also we need to start drilling here for oil as well. The first oil well in the entire world was in Pennsylvania. There is an abundance of oil under both sides of the US. From NY to GA, and from WA to southern CA. Between alternative energy sources and drilling for oil here, we wouldn't need the Middle East. The propaganda is the event of an oil spill, however, new drilling technologies have greatly reduced that risk. Senator Larry Craig of Idaho has a complete plan for this to reduce our dependency on foreign oil.
2007-06-20 06:24:16 · answer #5 · answered by awake 4 · 0⤊ 1⤋
That's why we need to find something besides oil.
And not ethanol either, speaking of people going hungry. That stuff is a sham, uses more energy to produce than it creates, gets less mpg than gasoline and it steals corn from the food supply.
2007-06-20 06:34:27 · answer #6 · answered by Anonymous · 0⤊ 0⤋
yawn
dead horse
no need to keep beating it
2007-06-20 06:09:09 · answer #7 · answered by Always Right 7 · 0⤊ 0⤋