Iran Oil Blockade Would Send Gas Prices Through the Roof -- ABC News
Cutting off the flow of oil through the Strait of Hormuz, a small waterway that borders Iran, could disrupt roughly a third of the world’s tanker traffic and send oil prices skyrocketing, analysts say.
The Iranian First Vice President Mohammad Reza Rahimi Tuesday threatened to close the strait if other countries sanction Iran’s crude exports because of the country’s nuclear ambitions.
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My Comment: A worldwide recession will be the result, as well as a new war in the Middle East.
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