Will The Push To Ban All Iranian Oil Shipments Succeed?

Frustrated With Diplomacy, Some In Congress Seek Total Ban On Iran’s Oil -- Washington Post

After failing to halt Iran’s nuclear advances with harsh economic sanctions, a group of U.S. lawmakers and analysts is proposing a more drastic remedy: cutting off Iran entirely from world oil markets.

Advocates of the measure say increases in oil and gas production in the Middle East and North America have made it economically feasible to organize the first truly global boycott of Iranian crude. Such an effort, if successful, would sideline the world’s fourth-biggest oil producer in an effort to force Iran to change its nuclear policies.

The proposal, variations of which are circulating on Capitol Hill, is being criticized by some economists as well as Obama administration officials who warn that such a measure could disrupt oil markets, alienate U.S. allies and drive up energy prices.

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My Comment: I see zero possibility that such a ban will move forward. China, India, Pakistan, and other energy hungry nations in Asia are not going to listen to U.S. Congressional demands, especially since the Iranians (from their point of view) are now being forced to sell their oil at a discount.