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NBC News: Oil to $300-$400 a Barrel if Iran Attacked
Jeff Poor
Business & Media Institute
Thursday, July 3, 2008
The consequences of a military attack on Iran to thwart its nuclear intentions could have a devastating economic impact.
NBC News chief foreign correspondent Richard 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.’”
(Article continues below)
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 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.
“[T]he prices that we’re paying at the pump today are, I think, going to be ‘the good old days,’ because others who watch this very closely forecast that we’re going to be hitting $12 and $15 per gallon,” Hirsch said.
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.
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34 Responses to “NBC News: Oil to $300-$400 a Barrel if Iran Attacked”
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July 3rd, 2008 at 6:16 am
The scary thing about these predictions given the role of speculators in the market, is that soon it will REQUIRE an attack on Iran, simply to ensure that these same ‘financial renegades’ don’t lose their future investments. A way has to be found to eliminate speculation in not just the oil markets but in all ‘essential’ energy markets and in foodstuffs that go to make ‘essential’ basic food products.
July 3rd, 2008 at 6:25 am
I was telling people two years ago, that the price of gasoline was going to jump to over ten dollars a gallon, maybe even fifteen, and they told me I had lost my mind…well, we’ll find out who’s insane, won’t we? They’ll probably call me a prophet. After Iraq was invaded, in 2003, I was telling people that gasoline prices would jump to over three dollars a gallon in about five years…I was right on that too!
July 3rd, 2008 at 6:31 am
thats ok fuck the oil cartel, i just use my cornish hydrogen on demand generater a long lost patiant from 1980’s too run all my motors it produces 1000cc of hydrogen per minute and is simple too build look it up on the U.S patants office bmw tested it on motorcycles and cars and it really works, stop funding the cartel 400 miles with this cornish h20 will cost you $1.00 compared too that ripe off gas at the pump and fuck whoever supresses these inventions in the government that wants all your money for themselfs and there hinchmen.
July 3rd, 2008 at 8:07 am
It’s already $6 / Gallon here in Australia.
And they think by disarming us that it’s going to stop us?
July 3rd, 2008 at 8:37 am
Diesel is over $10/us gallon here in the UK.
July 3rd, 2008 at 9:10 am
Kevin,
Give us a link to look this up? These gas prices are killing our families.
July 3rd, 2008 at 9:50 am
Its called PEAK OIL EVERYBODY! The world is just simply running out of cheap abundant oil and countries like China and India are industrializing at an alarming rate. China has about double the cars in the road since 2002. We have been consuming more oil then we have produced since the 1970’s and we have finally reached the peak on the belt shaped curve. Thus the instability of the middle east and the increasinly weak dollar add to the influx of world wide oil prices. The world depends on oil, oil is the most valubale resources that we have ever discovered and its running out. I expect to see a world wide economic collapse, massive starvation, anarchy, and war.
July 3rd, 2008 at 9:51 am
This will never happen! Oil is like the housing bubble, when it hits a certain price where nobody can afford to but it at that price then it will stablize. The fact is that there is not one company or person who will be able to buy oil at $300-$400 a barrel so the end user will stop buying oil and will either cease to drive or if they are a business they will go out of business if they are manufacturer’s.
July 3rd, 2008 at 10:48 am
When we say “cheap accessible oil”, we mean that with the technology being used today, the oil has become too expensive to pull out. That’s why the oil in Iraq and Iran is so lucrative because it’s so pure already. Here in Alberta our oil is in the “Oil Sands’…which is very time consuming and expensive to pull out. Most of the time they’re pulling it out of -40 degree celcius ground. We also know the the United States have capped many oil derricks that were heavy producers, why aren’t those being opened. Oh that must be because of the global warming hysteria who’s mangled science has corrupted many influential thinkers but hey, I have some brain cells left too.
July 3rd, 2008 at 11:02 am
http://www.keelynet.com/energy/cornish.htm hehehe take that tell the arab’s and bush they can swim in there oil fields.
July 3rd, 2008 at 11:04 am
Is there ever any good news on prisonplanet.com?
What happend to the good old days of hearing about cats being saved out of trees. lol
July 3rd, 2008 at 11:04 am
http://www.keelynet.com/energy/cornish.htm
July 3rd, 2008 at 11:37 am
Now is the time we come together as
a global community of human beings,
not as NWO,
and feed each other—
not only with food,
but as with Buddhist tenets with Love, Wisdom, and Compassion.
Brace yourselves everyone for a heck of a lot
of change for the positive
after experiencing a hack of a lot of the
negative.
I think Christ would ask us to love these NWO people
but not overlook the actions of deceit.
May all be well,
Nathaniel
July 3rd, 2008 at 12:06 pm
Neocons ate all the cats…
The greenie ecomentalists cut down all the trees…
July 3rd, 2008 at 1:01 pm
Theres nothing you can do except PREVENT IT….thats why we need to act now! Not later!
Christ wouldn’t ask us to love them!
Their the ones being lefted behind to live in this hell hole they built!
July 3rd, 2008 at 1:02 pm
Theres nothing you can do except PREVENT IT….thats why we need to act now! Not later!
Christ wouldn’t ask us to love them!
Their the ones being lefted behind to live in this stupid place they built!
July 3rd, 2008 at 1:16 pm
Why has everyone ignored Kevin? He’s the only one who’s posted a link which might have some practical benefit (and is actually good news!). Surely as human beings we are ingenious enough to find something else to make our wheels turn, other than the black gold of the desert so craved by the NWO????/
Its time people…..high time. The great noon tide is upon us. So start using your knowledge for practical benefit and experiment experiment experiment. Modern education has encouraged us to believe that we are not clever enough to come up with new ideas. BULLSHIT. Try it yourselves!
July 3rd, 2008 at 1:50 pm
The hydrogen generator is a great (but not new) invention but there is still the question of where to take the power to run the electrolyzer… it’s not coming form thin air and it is not running over the unity. Also, it is all nice but the majority of the people live in counties where it might freeze water in winter.
Microwave, plasma or RF holds better prospects and are way more efficient.
July 3rd, 2008 at 2:20 pm
, Bye Bye Economy! Bye Bye Freedom! Hello Marshal Law!
July 3rd, 2008 at 3:13 pm
I HOPE YA’LL GOT PLENTY OF BULLETS AND FOOD!!! CIVIL WAR 2 IS REAl CLOSE!! THEY CAN TAKE THEIR NWO AND THIER MARTIAL LAW AND STICK EM UP THEIR BUM!!!
July 3rd, 2008 at 3:31 pm
A months wage, for a loaf of bread.
13*
July 3rd, 2008 at 4:30 pm
interesting to note that there are far more predictions about the price of gas with an attack on Iran, and far fewer (none) about the number of civilian casualties. The question is, will Americans believe the old lies again (and again and again and…)
July 3rd, 2008 at 4:38 pm
It is surely troubling to think of what is happening to our country. Us “spoiled Americans” will not be seeing our children (or our childrens children for sure) live in the lap of luxury that we average Americans enjoy. God is not in heaven wringing his hands and wondering what has happened, neither should we. God cares for the sparrows and will take care of us also –
July 3rd, 2008 at 6:35 pm
This goes to the people of this country who hates the middle east.
July 3rd, 2008 at 8:42 pm
the coils supply the juice through the aluminum wire and walla you get massive amounts of hydrogen to feed the motor so much cheaper and so much better on the engine “no carben longer lasting motor”simple;)im just try 2 help my fellow americans from this suppresseive government that protects the oil cartel.
July 3rd, 2008 at 11:31 pm
I tried to “digg” this story multiple times. Each time “an unknown fatal error occurred. Hmmmm….
July 4th, 2008 at 5:55 am
The Neocons are forcing the NWO’s hand. Both want to rule the world, but the neocons think they can get there from here, right now. They’re done with the slow creep approach. They think they’ve got enough power and control that they can accelerate the whole process. There’s only so much the old school NWO folks can do. They’re both part of the same ideology, but the neocons have managed to get the reigns of Israel and the U.S, with the U.K. coming along for the ride. What we are about to live through is a power grab the likes of which no one has seen since the Axis powers decided they could achieve world domination. Buckle up folks, cause things are going to get real bumpy. I don’t think the neocons are nearly as strong as they think they are. I hope the people of the world won’t allow themselves to be drawn into another world war. This time we better cut the head off of the monster. The NWO capos need to go.
Just keep talking to people about what’s going on in the world. Get them thinking about the consequences of what our “leaders” are telling us they’re going to do. Americans are starting to feel the squeeze. Now is the time we need to get people thinking about how they are going to be affected by wars of aggression and governmental tyranny. As people’s standard of living goes down, let them know why. Just like the neocons are forcing the issue, so should we. Wake up the sheep!
July 4th, 2008 at 4:25 pm
There is really no need to go into Iran. Anyone who has enough money can BUY a nuclear bomb-and hide it too! The idea that we are going in their to stop weapons development is ridiculous! That will NEVER happen as there are rogue elements in EVERY government on earth that can do that! Neo-cons want a never-ending war-with our children’s blood and not theirs-so THEY control the oil $$$!!! Wake up folks! Jews have no allegiance to anyone but JEWS! Period.the Talmud teaches that it is all right for a Jew to cheat a non-Jew!Just Look it up! The Talmud also says that Mary was a whore, Jesus a bastard and that he is burning in hell in excrement! And I am supposed to die for these ideas? Bull—-!
July 5th, 2008 at 8:35 am
Hey folks, stop beating that poor dead horse. If Prophecy is History written in advance where do you find it smart-aleck? Well…look in the book of Revelation. It’s ALL there for those who have eyes to see and ears to ear. Remember FEAR is a weapon used by our enemies and bless GOD I don’t have to name them: You know who you are, aren’t you? We have lost our focus in this Chaos. What we need is to have a right relationship with Our Maker who made Heaven and earth and what’s under the earth. If you happen to be killed outright because of your downright antagonism against the NWO, put in a re-education camp or slave labor camp you can use your one way ticket North; you know what I mean. Otherwise you will have to use the other ticket: one way South where I heard it is a lot warmer but do you really want to find out how warm it is.? By the way I agree with you Cat Callahan about the Tall Mud. I am doing research and I’m really intersted in what you have found out.(paulfavret@att.net)
July 5th, 2008 at 9:10 am
If the U.S. supported Isreal atack on Iran or perticapated in a joint atack, that would cause $300-400 A barrle oil woud have the price of gas or diesel at $15-20 a gallon, you would find every politition and those forieghn lobby groups, will hanging from a tree coast to coast, and behind it would be an angry mob of about 150,000,000 American people, and there will be no more love for Isreal, Isreal please wake up and don’t bite the hand that feeds you. And America your police state will cease to exsist.
July 5th, 2008 at 10:40 am
GET REAL PEOPLE
THERE IS NO WAY QIL WILL GO THAT HIGH BECAUSE IT WOULD DISTROY THE MONETARY SYSTEM!!
THEN THEY WOULD HAVE ‘NO’ CONTROL!!
THERE TRYING TO SCARE YOU!!
July 6th, 2008 at 12:32 am
Cindy - Sorry I can’t take your post seriously - “Distroy” “There” (They’re) and what’s with the post being in capitals? I take it you are not really in a position to speculate on the price of oil if you can’t spell, use the wrong word and can’t use the caps lock / shift key.
July 6th, 2008 at 6:01 am
What a load of bull! oil would never go much above $200 no matter what happens in iran/iraq demand would fall and then the so would the price. You should really get get a life Mr spell checker everyone understands what cindy is saying u lame bastard.
July 6th, 2008 at 6:23 am
So Builderberg will achieve this. How much correct was Alex Jones predicting this!