OPEC Embargo Days - Comment - Israel News | Haaretz Daily Newspaper
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    • Mark of Lewiston
    • 07.01.12 | 09:17 (IST)

    This is not a new concept. During the OPEC embargo in the 70, there was alternate day rationing in the US and 10-hour lines on "your" day to fill up. That is why the US set up its Strategic Petroleum Reserve in the first place. The US also has experience with the Tanker War keeping the Strait open and protecting ships. But on a positive note, EXXON and Standard and all the OPEC countries and BP and Shell and all the oil companies should have record profits, gouging consumers. And Rick Perry says that Canada's oil really belongs to Texas, so Calgary can expect Texas to come and take the oil sands maybe. And Cuba and Venezuela will profit hugely. Chavez and the Castro Bros should make out like bandits.

    from the article: West plans to tap oil reserves if Iran blocks Strait of Hormuz
    First published 07:16 07.01.12 | Last updated 07:16 07.01.12
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