Quoted: How much oil do we get from Iran now?
Edit: As it turns out, the answer to the above question is, 'not a drop'Iranian exports to the US
Good luck with raising oil prices guys...it might do something if we were your customers. But probably not.
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The lack of understanding of basic economics on this board is apalling.
Do you understand that if Iran chokes their supply of oil that their customers will look elsewhere? Like to countries that do supply us oil. Do you understand what happens when there is an increased demand and a lower supply?
ETA: If we "bomb them" like some here would have us do, the oil supply from Iran would be disrupted and prices would increase. Do you know how long it took for Iraq to get production up to sanction levels post-war? It's not an overnight process. It's unlikely they'll decrease their supply because that would actually remove one of the rationals for not bombing them.
Alaska, that is a great idea, but count on 4 to 5 years before we start seeing benefit from it. Ironic isn't it. Bush called for drilling in ANWR about four years ago. Right now we would be seeing the first increase in supplies from it. However, right now our refinery production is a serious problem that even increased oil production can't solve. In fact, OPEC is producing more oil now than they have since 1979.