Saudi Arabia vs Iran. FIGHT!

[Utmost Roast Beef]

I'm not sure if this is entirely where this ought to go, but if this affects crude oil in the long-term, could that potentially put us back where we were with gas prices at the end of the 00s? Hell knows the last thing we need is anything else contributing to a repeat of the 2008-2010 debacle. I was pretty young for that and I remember how shitty it was.

[nullified]

Oh, I’m actually pretty sure that’s the actual intent. They have a knife to the world’s economic throat. They see the downturn, they see the banks doing bad heathen bullshit again, and they know they can put everyone’s fingers in and start turning the screws, no problem.

The message was certainly received that way, check how seriously literally everyone took this. It was one attack in one of the least stable areas on earth and everyone the world over sat up and started paying attention.

[Cain]

I'm not sure if this is entirely where this ought to go, but if this affects crude oil in the long-term, could that potentially put us back where we were with gas prices at the end of the 00s? Hell knows the last thing we need is anything else contributing to a repeat of the 2008-2010 debacle. I was pretty young for that and I remember how shitty it was.

It's possible, however the actual effects would vary widely, depending on the location. The US is doing a LOT of fracking nowadays and while it is still reliant on overseas production to fill in the gaps, those numbers have dropped considerably due to a surge in US crude oil production.

A shooting war in the Straits of Hormuz would more negatively affect India and China, both of whom get significant amounts of their oil from Iran and Iraq specifically. The US "only" gets about 14% of its oil from that region, while still a considerable amount it can afford to look elsewhere to make up the shortfall (and both Canada and Mexico would no doubt be willing...especially if it allowed them to pressure Donald Trump a bit).

Overall prices would spike, definitely...but the $100+ per barrel price may still be a way off.

[Doktor Howl]

https://www.apnews.com/55f68b50763c40eeb25ee19027573d86

Iranian tanker apparently hit by two missiles.