Iran Threaten's Oil Flow

Iran has threatened to stop oil from passing through the Hormuz Strait, the Strait in which forty percent of the world's oil supply must pass. Of course, if Iran did indeed block the Hormuz Strait, that would be a casus belli for many countries, and there would be a quick coalition thrown together of the oil hurting industrialized nations who would stomp Iran if they pulled such a move. More on this story as it develops.

Spoil's of War:

Big Oil companies from the United States is set to get a lot more oil very soon, according to The Independent:

"Iraq's massive oil reserves, the third-largest in the world, are about to be thrown open for large-scale exploitation by Western oil companies under a controversial law which is expected to come before the Iraqi parliament within days.

The US government has been involved in drawing up the law, a draft of which has been seen by The Independent on Sunday. It would give big oil companies such as BP, Shell and Exxon 30-year contracts to extract Iraqi crude and allow the first large-scale operation of foreign oil interests in the country since the industry was nationalised in 1972."

Wow, this is a big surprise, isn't it.

Iran's Oil Exports: Gone by 2015?

In what I consider a blockbuster article from the AP, it claims that poor state planning, a withering economy, and hostility to foreign investment to finding new/better oil supplies has put that country on a track to its oil revenues/exports to grind to a halt by 2015, also stating that if the United States could hold off just a few more years, you may see a lot of Iran wanting to sit down, talk, and become a partner in the world, however, it also states that bombing the country would unite the people against us. For more on this shocking piece, click here.