AI
Tuesday, August 08, 2006 3:17:50 AM
Iran
"As far as Iran using oil as weapon. Please please let them try. 50 percent of Iranian GDP is from oil sales - I think if they used oil as weapon it might hurt US a bit but it would crush the Iranian economy."
They have not spend all the income from oil, and probably have large forex reserve stored at least in part in gold. Given the political climate in the country and the region, they have the freedom not to worry about taking a hit in their economy in fight against the US political hegemony
The oil is second best guarantee of their sovereignty after nuclear weapons that they do not have.
"As far as Iran using oil as weapon. Please please let them try. 50 percent of Iranian GDP is from oil sales - I think if they used oil as weapon it might hurt US a bit but it would crush the Iranian economy."
They have not spend all the income from oil, and probably have large forex reserve stored at least in part in gold. Given the political climate in the country and the region, they have the freedom not to worry about taking a hit in their economy in fight against the US political hegemony
The oil is second best guarantee of their sovereignty after nuclear weapons that they do not have.
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