The consequences of a military attack on Iran to thwart its nuclear intentions could have a global economic impact, according to NBC News chief foreign correspondent Richard Engel.
Engel warned on the July 1 "NBC Nightly News" an attack by Israel could send oil prices soaring - sending gas prices into territories never imagined.
"I asked an oil analyst that very question," Engel said. "He said, ‘The price of a barrel of oil: Name your price - $300-$400 a barrel.'"
What would oil at those levels mean? A June 11 Time magazine story by Robert Baer put the price of a gallon of gas at $12 a gallon if oil goes to $300 a barrel. In May, Robert Hirsch, Management Information Services Senior Energy Advisor, told CNBC's "Squawk Box" the oil at those prices could mean $15-a-gallon gas.
Engel maintained Iran could disrupt oil shipping through the Strait of Hormuz, induce Iranian-back militias to destabilize Iraq and Iran's allies in Lebanon and in the Gaza Strip could threaten Israel. That would create "a line of fire from Tehran all the way to Jerusalem" according to Engel.
Engel's doom-and-gloom prognosis of "name your price" oil comes a nearly two months after White House Counselor Ed Gillespie sent a scathing letter to NBC admonishing Engel's network for "deceptively editing" an interview Engel conducted with Bush. The White House claimed Engel mischaracterized Bush's stance on the interview with its editing process.
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for about two weeks
July 2, 2008 - 14:43 ET by wizardjrSpeculators could push it way up there but good old basic economics will bring it back to market level before too long. The Israelis are only going to bomb the nuclear facilities not the oil fields or refineries. Iran cannot afford to hold their oil off the market for long, so a sales boycott won't happen (for long) either. Just more scary stories for the TV droolers. I'm expecting the Crypt Keeper to take over some of these so-called news shows any day now.
Attack
July 2, 2008 - 14:43 ET by JDWWhat would an Israeli attack on Iran do to the environment?
JDW
Remember the Countrywide Six?
Who forgot to write about the advances in Iraq?
If bin Laden is presumed innocent, why not just shoot him there?
A more important question
July 2, 2008 - 17:11 ET by Mr. KafirA more important question to ask is: What would a nuclear attack by Iran on Israel do to the JEWS? Or does it matter?
"Israel and Palestine should have their countries taken away from them, put in timeout, until they can prove they can get along." - balboa, ignorant bastard, 3/17/08
Apparently.....
July 2, 2008 - 14:47 ET by HillbillyKingMr. Engel assumes that the U.S. would just sit back and let the Iranians disrupt the flow of oil throgh the Straits of Hormuz.
This moron has no concept of what 3 carrier battle groups would do to the Iranians if they ever tried messing with the flow of oil.
Once again, another fear based ratings ploy courtesy of the delusional MSM.
If you make people think they're thinking, they'll love you; But if you really make them think, they'll hate you.
Don Marquis 1878-1937
Strategic Strait Of Hormuz
July 2, 2008 - 15:12 ET by JDWVice Adm Kevin Cosgriff commander of the 5th Fleet, 'We will not allow Iran to close it'.
JDW
Remember the Countrywide Six?
Who forgot to write about the advances in Iraq?
If bin Laden is presumed innocent, why not just shoot him there?
I seem to recall...
July 2, 2008 - 15:38 ET by Prester John....a few dustups between the Iranians and the US Navy during the 1980s and things didn't quite turn out the way the Iranians wanted. Now given that we have significant USAF assets in the area to back up the Navy, not to mention all the special operators that are available, I would say things would turn out even worse for our Iranian friends.
It is amazing to me how the MSM continually misunderestimates the capabilities of the U.S. armed forces and thinks that all our adversaries are 8 feet tall.
this is just criminal
July 2, 2008 - 14:52 ET by larry on LIthis is the reason i don't watch any of the alphabet channels,plus nat. geo. and discovery are just as corrupted with this garbage.
And the village idiots in congress want to bring back the fairness doctrine unfortunately it won't cover this type of programming.
I did the math
July 2, 2008 - 15:03 ET by TruthMongerattcking Iran = insanely high oil prices = less oil consumption = good for AGW = environmental extremists support attacking Iran?!?!?!?
another liberal oil war, eh?
Serious War with Iran...
July 2, 2008 - 15:12 ET by Clear thinkerI'm hearing more and more buzz concerning Iran and it's it's intentions of shutting down the Gulf.
Anyone here have any educated guesses as to waht may happen?
45 Communist Goals for America http://www.nationmakers.com/com_goals.htm
Here's an idea..
July 2, 2008 - 21:05 ET by HillbillyKingWe would kick their a$$ back into the stone age.
First here's what they have:
http://www.globalsecurity.org/military/world/iran/index.html
and here's what we have:
http://www.globalsecurity.org/military/agency/navy/index.html
For them I linked everything they got and for us I linked just the Navy. The reason is, it would be primarily a naval operation to keep the Strait of Hormuz open. This, essentially, is the focal point of the Iranian threat. For a better understanding of the specifics check this out:
http://www.globalsecurity.org/military/ops/arabian-gauntlet.htm
The SOH is probably the 3rd most vital waterway, behind the Panama and Suez canals, in the world. From a strategic point of view, that is the main reason that Iran can never be allowed nuclear weapons. Oh and the fact that they are run by a bunch of zealots who could possible think it would be a good idea to nuke Israel. Take this to the bank, if the Israeli's have any legit proof that the Iranians are producing weapons grade nuclear material, they will not hesitate to use every weapon, up to and including their own tactical nukes, to take out those facilities. The next 18 months are gonna be very, very interesting.
If you make people think they're thinking, they'll love you; But if you really make them think, they'll hate you.
Don Marquis 1878-1937
To me it seems that Iran
July 2, 2008 - 15:14 ET by UtherpendTo me it seems that Iran needs to be shut out of the world oil market and Iraq needs to take its place. If we really want to force Iran to turn themselves into a civilized nation then revamping and maximizing the oil flow from Iraq should be priority one. Sell twice as much oil from Iraq at 30% less than Iran and who do you think the Saudi's are going to buy from?
Uther, you are Brilliant!
July 2, 2008 - 17:45 ET byTell George Bush and he will implement immidately!
That screen capture cracked
July 2, 2008 - 16:13 ET by Cureboy675That screen capture cracked me up. I just had these visions of:
"Here is Chief Meteorologist Richard Engel with your No-Wait Weather and the 7-day Storm Team Future-Cast for waging war in the Middle East"
Well then you know the
July 2, 2008 - 16:15 ET by mattmWell then you know the opposite is true.
This is just (not so?) subtle anti-Israel propaganda designe to pre-blame Israel for what might happen in the future, and to bully them into sitting back and waiting for the next attack that they will be admonished to not retaliate to.
Drill ANWR.
Exactly. Oil at $400? Its
July 2, 2008 - 17:13 ET by Mr. KafirExactly. Oil at $400? Its the Jooooos fault!
"Israel and Palestine should have their countries taken away from them, put in timeout, until they can prove they can get along." - balboa, ignorant bastard, 3/17/08
Engel...a walking talking
July 2, 2008 - 16:39 ET by bigtimerEngel...a walking talking enemy within...and his despicable reporting form Iraq always made me ill, to put it politely.
I despise him, always have.
I could care less what he has to say about anything...I see his face..I turn the channel.
Btw...He can take his Hippy-Dippy weatherman stick and stick it where the sun doesn't shine...he makes a perfect point of just exactly why we should start drilling here, plus using any form of oil we can here, like the Bakken Valley, plus all the shale, uncapping wells ect. we need to be self-dependent here for this very reason, the RINOs and leftists have stopped this for over thirty years.
"Never murder your opponent when he is committing suicide." ~ W. Wilson
Gotta' get down to it
July 2, 2008 - 17:00 ET byI think we should invade Iran and be done with it. Heck, we invaded Iraq and gas only went up $2 - $3 a gallon. How bad could it be? Iran could also use (at least deserves) the unsettling influence of al Qaeda within its borders, just like Iraq. Maybe then democracy will flourish like a flower in the Middle East. We’ve got to stop sissy-footing around this oil issue and get what we deserve from those ungrateful people!
We should of already taken
July 2, 2008 - 17:13 ET by bigtimerWe should of already taken care of Iran years ago as far as I am concerned.
...but that's just me.
"Never murder your opponent when he is committing suicide." ~ W. Wilson
With NBC track record, I
July 2, 2008 - 17:00 ET by ConservativeRexWith NBC track record, I wouldn't be predicting a damn thing.
$400 oil? How about exploding Chevy truck gas tanks?
I rest my case.
The Man of Peace
July 2, 2008 - 18:26 ET by Chris NormanPerhaps Obama can run for President of the US and Israel. If anyone can, he can!
Maybe it would be more
July 2, 2008 - 19:21 ET by robert108Maybe it would be more intelligent for the MSM to consider what would happen to our world if Iran got nukes? I doubt that a nuke attack by them on Israel and other "infidel nations" would have any beneficial effect on the price of oil, or on anything else.
Has Richard turned from
July 2, 2008 - 20:33 ET by d1carterHas Richard turned from bashing the surge in Iraq now?
If President Obama...
July 2, 2008 - 21:51 ET by Parker1227...(thank you Bob Barr and Ann Coulter), catches wind of an Israeli strike on Iran, his Jew hating years at Trinity could kick in and he might pick up the phone and order our forces to stand Israel down.
Then the fun really begins. The fleet commander pretends that the communications are bad, "What was that Mr. President? We seem to experiencing a solar flare."
"I think the president just said to support Israel in their attack! OK - lets do this!"
Three months later, with the Fleet Admiral on trial, and growing violent protests from the right demanding the impeachment of Obama... .
How about this for a solution
July 2, 2008 - 22:18 ET by HumblepieSince California already has a good population of libs, why don't we gather all the rest of them and send them to either CA, OR, or Washington State. Build a BIG fence around them and shoot them as they try to climb over. This might help to protect the other 47 states. Sorry Noel, you'll just have to move.
During this time with political correctness at its zenith, I reserve the right to let you know you're an idiot.
47?
July 3, 2008 - 01:57 ET by expatriotI thought that there were more than 50 states. What are Barry Hussein O and I missing? I am really confused, shouldn't we also protect the other six, or seven or eight?
Humblepie
July 3, 2008 - 02:36 ET by Rush FanPlease take it easy with your suggestion of sending more liberals to California. I live there. I agree that we conservatives are vastly outnumbered by the far left. I shutter every time I hear Barbara Boxers’ voice or see her ugly, angry face. I’m hoping the makeup of the state will someday change in our favor. However, you are welcome to build a BIG wall or mote around crazy anti-military San Francisco, especially since the ultra-liberal Mayor of San Francisco, Gavin Newsom, is contemplating running for governor. Unfortunately, California is so liberal he’ll probably get elected. Newsom, by the way, is the Clinton-like bimbo chaser who had an affair with the wife of one of his best friends and campaign aides. Just a nornal event in the life of a liberal politician.
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I'm voting for Barack Obama now that an AP poll shows people would rather barbecue burgers with Barack Obama than with John McCain. http://news.yahoo.co...
→ Rush fan
July 3, 2008 - 03:00 ET by Cool ArrowY'all need to quit burning up all that brush. I'm callin' Al Gore.
LYDSEXICS UNTIE
I like the idea in
July 3, 2008 - 09:45 ET by DarkCurrentI like the idea in principle, but I own a nice home in WA that I'd like to return to live in one day. Ideally after the surroundings had been cleared of libs.
How about putting them in Hawaii instead? It's already at least as liberal as these three states, there'd be no need to build a wall (except around the military bases we'd keep) and escape would be much more difficult.
Another advantage is that it's warm enough that they wouldn't need to burn fossil fuels either. A liberal paradise for them to build Utopia in.
I would welcome 300$ Oil....Because ..
July 2, 2008 - 23:09 ET by JayTeePelosi and Company would Dissappear from face of the Washington Post, the NYT, etc.....
This is predicting a Future with NO DEMOCRATS, and LOTS of Drilling....GO FOR IT, MSM !!!
The Republican Revolution will not be Televised