$250 Oil

When oil is about $100 per barrel, gasoline costs $3 to $4 per gallon here in America.  So we can only guess that if oil went to $250 per barrel that gasoline would probably cost $7 to $8 dollars a gallon or more.  No doubt if that happened it could crush the anemic economic recovery that so many believe is happening in America....and could very easily shove us off the abyss as it would bring retail and manufacturing prices of goods to a place we have never seen.

So here is the headline for the day;

UPDATE 2-Iran says oil would go over $250 if exports banned

TEHRAN, Dec 4 (Reuters) - Iran warned the West on Sunday any move to block its oil exports would more than double crude prices with devastating consequences on a fragile global economy.

"As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel," Foreign Ministry spokesman Ramin Mehmanparast said in a newspaper interview.

The comments come as Iran strives to contain international reaction to the storming of the British embassy last week, a move which drew immediate condemnation from around the world and may galvanise support for tougher action against Tehran.

Washington and EU countries were already discussing measures to restrict oil exports after the United Nations nuclear watchdog issued a report in November with what it said was evidence that Tehran had worked on designing an atom bomb.

Here;  http://www.reuters.com/article/2011/12/04/iran-sanctions-oil-idUSL5E7N404U20111204

It feels a little bit like Iran has the West in checkmate...if we bomb them and attempt to thwart their atomic bomb aspirations....oil goes to $250 when Iran closes the Straight of Hormuz where 40% of the world's oil needs to pass through in oil tanker ships.  If we do nothing and let them get a nuclear bomb then Iran can hold the world hostage with a threat to ignite a nuclear holocaust where ever one of their missiles can reach.

I sure am glad that Jesus Christ has this whole thing under control because it sure seems that mankind is near the end of things in SO many ways.