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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump Is About To Make You Pay More For Gas By Killing The Iran Deal
BY JASON EASLEY at Politicus USA
https://www.politicususa.com/2018/05/08/trump-is-about-to-make-you-pay-more-for-gas-by-killing-the-iran-deal.html
SNIP........
The move could tighten up the oil supply or disrupt it. Heres whats important to know. One-third of all oil shipped to the world passes through this little bottleneck here. Its called the Strait of Hormuz. Its a narrow waterway separating Iran from the Arabian peninsula and nearby U.S. Military bases. This strait is only 21 miles at the narrowest point. Iran has threatened to mine the strait in the past. That would make it difficult for ships carrying the oil to get out. Usually, when tensions are high in the Persian Gulf, the U.S. Navy patrols and helps the ships get through.
If Iran felt provoked, however, the movement of 17 million barrels of oil per day, and its not just from Iran could be held up. The oil comes from U.S. Allies. Saudi Arabia, Qatar, all of them could find it more difficult to export oil, because theyre all over here, and thats the Strait of Hormuz. That, of course, translates into higher prices for you at the pump even with the deal still in place but in peril, gas prices have been rising. A gallon of unled gas costs almost 47 cents more today than a year ago. This isnt all Iran. Just lately Iran contributed. This is not a mistake. Gas prices are calculated to a tenth of a cent when you go to the gas station. All this is just the economic impact of canceling the deal.
Trump raised the cost of healthcare with his sabotage of the ACA, and now he is going to raise the price of gasoline. It isnt difficult to understand why Trump and Republicans dont see good poll numbers in response to the economy. In their daily lives, people arent feeling prosperous. Prices are going up on vital necessities, while wages arent keeping up with the increase and too many Americans lack the kind of good paying jobs that create economic security.
The president will spout his Im going to cut a better deal rhetoric, but he has yet to prove that he is capable of crafting better deals.
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quartz007
(1,216 posts)Killing Iran deal will cause prices to go up, but hopefully
not above peaks reached in 2012. Bigger cars are now selling faster than smaller cars, so more pain lies ahead.