By Micah Halpern
I've Been Thinking:
Iran is starting to feel the pressure of the US sanctions that are already in place and of future sanctions, those on oil that will on start November 4th.
Iran is responding by saying that the sanctions will not be that effective.
Moayyed Hosseini Sadr, an adviser to Oil Minister Bijan Zanganeh said, "Considering the high demand and low supply in the market, America's sanctions cannot drop Iran's oil sale to zero ... Other oil producers cannot replace Iran's oil."
Sadr is correct about the demand for oil - it is high.
BUT - here's the big question: is buying from Iran to meet your needs and even possibly undercutting the world market rate worth the potential backlash and wrath of the United States????
That is the question that needs to be answered.
Micah@MicahHalpern.com
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