Oil continues its fall. It’s under $94 a barrel right now, and holding steady. Gas is down to $3.19 in the Richmond area, and sinking. (Gasbuddy.com is a good place to find the cheapest gas prices in your area. It’s where your local news stations get their prices.)
Best of all, oil is under $100. When it’s below $100, Iran can’t sustain its current antagonism, according to some.
What this all could mean is that if oil prices fall to $70 per barrel or below, Ahmadinejad may find it difficult to maintain the same level of belligerence against the West. Things could get much worse for him if Obama is elected. His pledge to invest $150 billion in renewable energy could very well burst more bubbles around oil prices, thus pulling them to more unbearable lows for right-wingers in Iran — so low that the words “suspension of uranium enrichment†may turn from blasphemy into a realistic option.
I hope he’s right. But even if he’s wrong, Iran loses $2.4 million dollars per day for every dollar oil sinks. So think of the tens of millions of dollars that are not flowing into the pockets of the Iranian mullahs, and have at least a small smile over that.
It’s my understanding that if Oil goes much below 90 bucks a barrel, then there are real problems on the domestic fuel subsidies that are a big part of maintaining order there.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aEgZoLZVrMPo&refer=home
http://www.iht.com/articles/ap/2007/05/25/africa/ME-GEN-Iran-Economic-Woes.php
That’s great! Let’s keep prices moving downward by walking to our churches and synagogues. The body is a temple, you know, so walking to church or synagogue is also preserving God’s creation.
chsw