Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Thursday, December 8, 2011

Possible Implications of an Iranian Oil Embargo

Possible Implications of an Iranian Oil Embargo

Does Thursday's announcement that the EU is considering to ban oil imports from Iran epitomise the draining of power from west to east? The big winners here will be China and India, who do not fear rising Iranian influence and who will gladly soak up any additional oil exports they may have to offer. However, ending this small dependency upon Iranian oil imports in Europe (Figure 2) does clear the way for military action without the need to ponder the immediate consequences on oil imports.
Iranian Crude Oil, Balance, Production and ConsumtpionRead

No comments:

Post a Comment