Quote:
Originally Posted by Rochard
Oh, I should add gas is going up because of the shit with Iran. You know, because that has a huge impact on the US getting it's gas from Canada and Mexico.
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We see a spike at the pump because Iran controls (or more accurately, attempts to control) the Strait of Hormuz. Their threats over one of the most important international shipping lanes will send prices higher, but it's an issue that's ultimately separate from the question of the Iranian oil supply. In this case, Iran doesn't need to export jack shit in order to impact the oil market.
Europe will be more directly affected, which is the reason that Greece was trying to stop sanctions. They can't afford higher energy prices, although Britain and France can.