Iran vs the West: Who’ll be the first to blink?
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As tensions between Iran and the West over Tehran’s threats to block a crucial oil provide route increase, there is much speculation whether the situation will evolve into a full-scale military conflict. But could it be just a game of chicken? A US aircraft carrier has been spotted near the Strait of Hormuz where the Iranian navy has been carrying out military drills. Iran’s navy chief previously claimed that closing the strait would be an easy job for the Iranian forces. In response the US said that interference with the transit or passage of vessels through the route would not be tolerated. Investigative writer Edwin Black told RT that full military conflict would cripple the oil-dependent US – as well as the rest of the world. However Stephen Schork, the editor of the energy buying and selling publication The Schork Report, argues that Iran is bluffing as it “ simply cannot afford not to sell its oil to the world market .” “ If Iran cannot get its oil to the world market, it cannot get petrodollars ,” he told RT. Moreover, Schork adds that Iran lacks refining capacity. “ If Iran carries on on this path, they will isolate themselves, they will not have entry to international capital and they will not have entry to enough refined product .” He asks what Iran is trying to get as a reward for this possible move. “ Apparently they want to build a nuclear weapon. The reward of a nuclear program does not justify the immense risk the leaders in Iran are playing out right now ,” he concludes.