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Strait of Hormuz and other Oil Chokepoints
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Iran currently is not exporting much, about 1 million barrels per day.
So an attack that shutdown Iranian exports would be less impactful than the Libyan situation last year.
Iran would attempt to mine and shutdown the straits of hormuz. 17 million barrels goes through the Straits of Hormuz.
Pentagon officials estimate if Iran was foolish enough to try and close the Strait of Hormuz using its estimated arsenal of 2,000 mines, the US Navy and allied nations would be able to clear it in five to ten days. That's just long enough to likely cause massive spikes in worldwide oil prices, disrupt global shipping traffic. “If they wanted to close the Strait of Hormuz, they could do it, but they would only be able to do it one time,” Christopher Harmer, a retired Navy commander who served as director of future operations at U.S. 5th Fleet headquarters in Bahrain, told KTLA
See more and subscribe to NextBigFuture at 2012-09-19 07:26:23 Source: http://nextbigfuture.com/2012/09/strait-of-hormuz-and-other-oil.html
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