By Micah Halpern
I've Been Thinking:
Iran has begun to play hard ball. Iran wants to frighten and to threaten the West.
Yesterday Iranian Oil Minister Rostam Qassami announced that Iran will soon stop exporting oil to certain Western European countries.
This announcement came at the same time that the vote in the Iranian parliament over a bill to cease exporting oil to Western European countries was postponed.
Qassami also said that he anticipates that oil will soon reach between $120 - $150 a barrel.
These statements and actions are all meant to strike fear into the hearts of Western decision makers.
Increasing the cost of oil to $150 a barrel will be a crushing blow to certain economies - especially Western European economies. These countries are dependent on oil - and they had already decided that as of June 31 they will not renew any new Iranian oil contracts.
That decision is at the root of Iran's decision to shoot back with statements and moves aimed at hurting Western Europe. Iran rightly believes that Europe cannot sustain itself without reasonably priced oil.
Micah@MicahHalpern.com
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