U.S. dilemma: Targeting Iran's oil industry could hurt America more

[Joanne98]

Source: AP

CAIRO, Egypt: The United States has begun increasing the pressure on Iran's lucrative oil industry, targeting individual firms for one of the first times in the nuclear standoff. But the effort remains limited — mostly because aggressive oil measures could hurt America's economy more than Iran's.

The dilemma for the U.S. is clear: Hitting Iran's energy industry with strong sanctions now could cause world oil prices to spike, at a time when they are already at record levels, enriching Tehran and harming the U.S.

Yet long-term, finding some way to target Iran's oil is crucial, some analysts say, because its oil exports generate billions of dollars in hard currency, providing Iranian President Mahmoud Ahmadinejad with strength to defy the international community.

The U.S. sanctions announced last week were something of "a shot across the bow in the direction of the oil and gas industry," said Levitt. They targeted several Iranian oil-services firms allegedly linked to the country's powerful Revolutionary Guards, but did not go further.



Read more: http://www.iht.com/articles/ap/2007/11/05/africa/ME-GEN-Iran-Targeting-Oil.php

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Targeting Iran's OIL SERVICE COMPANIES! Gee, isn't Haliburton a OIL SERVICE COMPANY?

[ixion]

1. like BushCo gives a rat's ass about We, the People

.

[C_U_L8R]

2. republicans love higher prices

more to stuff in their pockets

[Megahurtz]

3. They Probably Would Just

jack up the price even more and line their pockets with the rest.

[Deny and Shred]

4. Halliburton ought to be first in line to be sanctioned

http://www.cbsnews.com/stories/2004/01/22/60minutes/main595214.shtml

[ohio2007]

5. EU would suffer more in an oil industry clampdown

How much oil does the US get from the ME any way? 10 % ?