Understanding IranPosted: February 21, 2012
A LOT has been said about Iran over the last few weeks and we at http://www.campusnow.com want to break it down for you….. YOUR WELCOME!
What You Need To Know:
1. The U.S.’s beef with Iran goes back pretty far. Loyalty to Israel is one issue. President Ahmadinejad comparing the United Nations, i.e. the U.S. to Satan could be the other!
2. The U.S. are convinced that Iran will develop enough nuclear weapons to start World War 3. At this point, we want to explain to you the concept of mutually assured destruction….yawn…but we are refraining from doing so. (read: wikipedia!)
3. The U.S. does not like the fact that Iran allegedly supports Hezbollah and Hamas.
4. All this nuclear talk led the U.S. and European Union to impose sanctions against Iran. Iran in retaliation threatened to close down the Strait of Hormuz.
5. We care about the Strait of Hormuz because it is a crucial ocean route for ships. Blocking the strait would imperil trade and the supply of oil.
6. World Oil is trading at around $120 a barrel. Why? The world fears that Iran, a chief supplier of oil will slow down the supply of oil to the rest of the world.
7. Why Do We Care? Domestic oil in the U.S. increases by 2.4. cents a gallon for every dollar increase of world oil. Plus, local oil production has slowed down. (http://www.csmonitor.com/Business/2012/0217/Gas-prices-begin-climb-toward-4.50-a-gallon-experts-say)
8. What We Can Do? Nothing at this point. It’s either higher oil prices or nuclear proliferation.
– http://www.campusnow.com Blog Team