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OPEC Warns Against Military Conflict with Iran

Submitted by Bakeness7 on Thu, 07/10/2008 - 16:21
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http://www.iht.com/articles/2008/07/10/business/opec.php

OPEC warns against military conflict with Iran
By James Kanter Published: July 10, 2008

VIENNA: The head of the Organization of Petroleum Exporting Countries warned Thursday that oil prices would see an "unlimited" increase in the case of a military conflict involving Iran, because the group's members would be unable to make up the lost production.

"We really cannot replace Iran's production - it's not feasible to replace it," Abdalla Salem El-Badri, the OPEC secretary general, said during an interview.


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OPEC Warns Against Military Conflict with Iran

Submitted by Bakeness7 on Thu, 07/10/2008 - 16:22.

So after Bush finally gives in to Israel and whoever else is trying to get the U.S. to attack Iran what can we expect for our gas prices?

My guess is the government would put in place price ceilings. Which would likely cause gas shortages and rationing and just make things worse.