Despite your opinion on the Iranian nuclear weapon issue (a non issue, by all measures), the wargames with Iran are close to causing oil shocks not seen since the 1970’s.
The comments come as U.S. National Security Adviser Tom Donilon was visiting Israel to voice America’s concerns over the prospect of an Israeli attack, as worry over the Islamic Republic’s nuclear program mounts.
“It wouldn’t be a quick end to this crisis; it would be the beginning of either a larger war or a long-scale, large-scale containment effort to try to stop Iran from what they would undoubtedly do, which would be race to build a bomb.
“And during this you would see oil prices which are already spiking probably go through the roof. Experts warn that oil could hit $200 a barrel – some even think $300 a barrel. That would have repercussions on an already fragile global economy.”
Of course, Iran has never had an offensive war in the last half a century.