joewp wrote:Obama may be rattling the sabres at Iran to cover for the run-up in oil prices (which are currently "down"), but so did Bush and so will the next president, whoever he might be. ]
1. Oil prices aren't down---they are up. Oil prices have more than doubled since 2009 and are at record highs in europe and near record highs in the USA.
2. The problem we are looking at now isn't that obama is "rattling the sabres at iran" or that Bush rattled sabers eight years ago. If anything, Obama is trying to damp down war talk and stop the Israelis from bombing Iran. The problem is that the policy that Obama has chosen to implement instead----sanctioning any bank in any country in the world that imports iranian oil--- is designed to take 3 million barrels/day of Iranian oil off the global export market.
IMHO thats very stupid policy and a wrong-headed approach. Obama's plan to block Iranian oil exports will inevitably drive energy prices even higher and inflict damage on the US economy and the global economy.