Is it a good idea to boycott Iranian oil.............?

Strictly from an economics point of view:



The current price of oil today is $100 per barrel. This is with all Middle eastern countries exporting their oil at maximum output levels.



Recently, the EU has decided to sanction Iranian oil and the Iranians have said that certain EU countries will be stopped from receiving oil from them - so one way or the other, Iranian oil will be stopped.



Iran produces 450,000 barrels a day.



Obviously, by cutting 450,000 barrels to the EU will mean that oil supply is low and thus oil prices go up (simple supply and demand). Iran has said that they can easily find other customers for their oil - India and China are the 2 largest economies in the world, plus a lot of south american countries



As a car driver, i feel that the price of petrol is high enough as we speak. But by the Iranian oil taken away, the price per barrel will rise, thus meaning that the price of petrol goes up, which will mean it is more expensive to commute to work/ schools, bus prices go up, the goods sold in shops become more expensive - a huge impact on the economy



What are our leaders thinking?



what do you think?



http://knopok.net/prices-chart/oil

http://www.presstv.ir/detail/225692.htmlIs it a good idea to boycott Iranian oil.............?
It's a great time to switch to domestic natural gas. Imagine what that would do to the Trade Deficit along with so many other benefits.
What do I think.. not much, stir the rebels against the Iran gov.. cause a bloody onslaught of civilians.stick the vids on the inteweb, we all sit horrified, the UN move in ,we take the oil...job done.Is it a good idea to boycott Iranian oil.............?
The majority of Iran's oil exports go to just five countries:

Link - http://www.eia.gov/EMEU/cabs/Iran/images鈥?/a>

Only one of those countries - Italy - is a European Union member.



The loss to Italy can be easily made up for with oil from other sources:

For example:

Russia's pumping 10+ million barrels daily.

Saudi Arabia's producing 9+ million barrels daily.



Worrying about Iranian oil is worrying about nothing.
the petrol you probably buy today was bought 5-10 years ago there is no way that the amount of oil we buy gets processed and put out to the public that fast. The oil we buy now will be probably be used in 5 to 10 years when we have used up the supply before it.Is it a good idea to boycott Iranian oil.............?
The price of oil is set on a world wide basis so Iranian oil not going to one area should have little to no effect on the overall world price. The amount of oil on the world market wouldn't change.
nothing good ever came from Media.
What do I think? There are a lot more important issues at stake here than cheaper petrol at the pumps. You did ask what I thought ..........................
Sanctions put on Iran is to try and stop going to war with them. They do not own the Straits of Hormuz, which they have threatened to block, which would cause problems for many countries. China is Iran's biggest oil customer. Although they were reluctant, they have already cut their purchases of Iran oil in half. We hope to financially cripple them, it's better than ending up having war with them. The US refuses to have any economical dealings with other countries who continue to buy oil from Iran. It doesn't go into affect for 5 months, though some countries/China has ''already'' cut their oil purchase in half, from Iran.



I'd rather pay more for gas etc than go into another bloody war.



http://www.reuters.com/article/2012/02/0鈥?/a>