U.S. Must Mandate Zero Oil Exports for Iran
7:02 AM, Jul 25, 2013 • By MICHAEL MAKOVSKY AND JONATHAN RUHE
Although the oil market can manage an Iranian oil export cutoff, it won’t be easy to achieve, even if such U.S. legislation becomes law. The Obama administration can reinforce the effectiveness of such legislation by conveying in clear and concrete terms to buyers of Iranian oil, such as China, that the United States will unquestionably take military action to prevent a nuclear capable Iran, or support Israel if it chooses to strike, and that this would cause a temporary cutoff of much of the Persian Gulf oil upon which these countries depend. The administration should also explain how a nuclear Iran would lead to higher oil prices.
With time running out as Iran approaches nuclear weapons capability, the United States must adopt a zero-tolerance policy for Iran’s oil exports.
Michael Makovsky, a former oil analyst at financial firms, is CEO of JINSA. Jonathan Ruhe is a senior policy analyst at JINSA.
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