It’s also no secret among Persian Gulf traders that in the – hopefully unlikely – event of a US-Saudi-Israeli war in Southwest Asia against Iran, a real scenario war-gamed by the Pentagon would be “the destruction of oil wells in the GCC [Gulf Cooperation Council]. The Strait of Hormuz does not have to be blocked as destroying the oil wells would be far more effective.”
And what the potential loss of over 20% of the world’s oil supply would mean is terrifying; the implosion, with unforeseen consequences, of the quadrillion derivatives pyramid, and consequentially of the entire Western financial casino superstructure.
Call it a nuclear financial weapon of mass destruction chain reaction. Compared to that, the 2008 financial crisis would be little more than a walk in an ecologically friendly park.”
(Pepe Escobar. “Oil and gas geopolitics: No shelter from the storm.”
If we assume such a deterrent is one of the options why hasn’t Iran ever declared its own version of, “all options are on the table”?
There is no question that this alters the balance of power. Or, was it not necessary to bring it up and that’s why it was never presented as an option? If that is the case then why is Iran being pushed to the brink of war? Some have called Trumps’ actions an act of war. And if that is the case does Iran have the right to retaliate?
So far diplomatic efforts have been going well but this has not changed the minds of the major multinationals from leaving Iran.
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