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Originally posted by randomname
oil executives must be drooling. if iran did that there's no need to invade.
an opec oil embargo would be a different story though.
edit on 4-12-2011 by randomname because: (no reason given)
Originally posted by randomname
oil executives must be drooling. if iran did that there's no need to invade.
an opec oil embargo would be a different story though.
edit on 4-12-2011 by randomname because: (no reason given)
Originally posted by sheepslayer247
I think most of the oil Iran exports goes to European nations, not the US. Unless OPEC follows suit, nations would simply stop buying their oil and import it from somewhere else.
Yeah but Libya didnt have russia and china behind them.
Originally posted by AllUrChips
The last time a country tried to trade oil in their own currency they were mercilessly attacked and their leader was dragged through the streets and killed. NOT a good idea.
But FDR did not want to cut off oil. As he told his Cabinet on July 18, an embargo meant war, for that would force oil-starved Japan to seize the oil fields of the Dutch East Indies. But a State Department lawyer named Dean Acheson drew up the sanctions in such a way as to block any Japanese purchases of U.S. oil. By the time FDR found out, in September, he could not back down. Source