Potentially biggest oil supply disruption ever
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January 5, 2012, 06:46
Filed under: Uncategorized | Tags: Bob Beamon, Iran, Iranian Revolution, North Sea, oil supply, supply disruption
Filed under: Uncategorized | Tags: Bob Beamon, Iran, Iranian Revolution, North Sea, oil supply, supply disruption
“If Hormuz was to be disrupted, we’re talking the biggest disruption the oil market has ever seen,” said Blanch.
“We’ve never seen anything like it, and that’s why we think it’s very unlikely,” he said.
via Bottom Line – Iran oil standoff could mean higher gas prices.
The disruption associated with the Iranian Revolution in ’79 holds the current record. Even Bob Beamon’s record got taken out. (Didn’t it?)
After that disruption, the global supply problem was temporarily fixed in large part due to huge reservoirs that were discovered many years prior to the Iranian Revolution, in Alaska and the N. Sea, coming on line.
This time, we have cooked sand.
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