wlz1989's blog: "wlz1989"

They said senior executives of the International Energy Agency (IEA) discussed on Thursday an existing plan to release up to 14 million barrels per day (bpd) of government-owned oil stored in the United States, Europe, Japan and other importers.This rate of release could be kept up for a month, offsetting most of the 16 million barrels a day of crude passing through the world's most important shipping lane that could be halted by an Iranian blockade. Iranian officials have threatened in recent weeks to block the strait if new sanctions imposed by the United States and planned by the European Union, with the aim of discouraging Iran's nuclear program, harm Tehran's oil exports.Earlier this week Iran said it would take action if the United States sailed an aircraft carrier through the strait,canada goose outlet and followed this by announcing new military exercises, shortly after completing 10 days of naval drills in neighboring seas. Real Admiral Ali Fadavi, naval commander of the Revolutionary Guards Corps, said the exercises next month would focus directly on the Strait of Hormuz, which leads out of the Gulf and provides the outlet for most oil from the Middle East."Today the Islamic Republic of Iran has full domination over the region and controls all movements within it," Fadavi said in remarks reported by the Fars news agency. After years of sanctions that had little impact, Western countries have adopted a far more direct approach in recent months, imposing sanctions that explicitly impact the oil industry that provides 60 percent of Iran's state revenue.canada goose cheap outletThe new U.S. measures would cut off any institution that deals with the Iranian central bank from the U.S. financial system. If implemented fully, it would make it impossible for most countries' refineries to buy Iranian crude. But Washington has to balance its determination to isolate Tehran with concern that driving its oil off markets will raise prices and hurt the fragile global economy. Brent crude futures hovered above $113 a barrel on Friday, up nearly $7 since Obama signed the new sanctions law.To ease the impact on markets, the new U.S. measures take effect over several months, and the offer of waivers gives countries time to find other suppliers. Saudi Arabia, the world's biggest oil exporter and a foe of Iran, says it will make up for any supply shortfall. Traders and analysts believe Iran is unlikely to block the strait. canada goose"Neither side wants a war. A lot of this rhetoric is overstated," said Cliff Kupchan, Iran analyst at Eurasia Group.If Iran did try to blockade the strait, it would be no match for a U.S. fleet led by the giant supercarrier John C. Stennis, accompanied by a guided-missile cruiser and flotillas of destroyers and submarines. The Combined Maritime Force protecting Gulf shipping also includes countries such as Britain, France, Canada, Australia and the Gulf Arab states, under the command of a U.S. admiral.There are other ways in which Iran could provoke a Western response, from missiles within range of U.S. targets in the region, to small boats that could attack a ship near shore, to allied militia in Palestine and Lebanon that can strike Israel.