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Sunday, 8 January 2012

U.S. would "not tolerate" the blocking of the Strait of Hormuz

Defence Secretary Leon Panetta draws a red line on a sand when it comes to Iran in an interview on "Face the Nation" Sunday. He says the U.S. would not tolerate Iran to do two things: develop a nuclear weapon or to block the Strait of Hormuz.

The Strait of Hormuz is a strategic pathway out of the Persian Gulf of essentially all oil mined in in Iraq, Saudi Arabia, UAE and Qatar.

Us may clank with their weapons, but the truth is the war would have a devastating effect on tepid recovery, and would benefit to no one. In case of the military conflict, the price of the oil would shoot up to 200 USD per barrel, at least temporary,- not a good news for rednecks before the elections.



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