Concerning oil prices jumping based on Iran's new stmt, "they may use oil as a weapon, if referred for sanctions." There is no question as to their referral for sanctions, that will happen, 100% chance. Lord knows there is nothing I would like better than to see oil prices jump to $70., my portfolios are loaded with OSIX and refiners, however, I am afraid that the only sanction imposed on Iran is going to be a sanction on the time they have to stop enrichment activity before they really are sanctioned with more sanctions.
The whole thing is ridiculous. The media is either absolute idiots, absolute liars, or just plain Evil. I've read three articles this weekend stating Iran plans full scale enrichment if they are referred for sanctions. The articles go on to say Iran plans to install 3,000 centrifuges to allow full scale enrichment activities. Now, I believe the 3,000 part. The media saying this allows full scale enrichment is an out and out lie. The facts, it takes at least 50,000 centrifuges to achieve enrichment activities which would be considered as full scale to support Nuclear Power or Nuclear Weapons capabilities. Final note, to our knowledge, Iran currently has 10 centrifuges. Nukes only require 4% enriched uranium to provide neutron supply absorption reactions in order to sustain fission heat necessary to produce steam for power production.
The one red flag thrown last week was the IAEA announced Iran now has the technology to hook em togethor. Big leap in technology, because, if they can hook 10 together they can hook 3,000 togethor and so on.
Definition for ridiculous: Deserving or inspiring ridicule; absurd, preposterous, or silly. See Synonyms at foolish.
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