An insincere and evil friend is more to be feared than a wild beast; a wild beast may wound your body, but an evil friend will wound your mind. - Buddha
According to English folklore, Blockhead complained to the Judge of being annoyed with flies. The Judge granted Blockhead permission to strike them wherever he saw them. Observing a big fly on the judge's nose, Blockhead delivered a powerful blow with his fist, smashing the fly -- and the Judge's nose.
Israel, annoyed at Iran's refusal to abrogate its rights granted under international law and treaties, and for resisting injustice, has demanded that the United States not only impose crippling sanctions on Iran, but place an embargo on Iran's crude oil.
As Ted Koppel wrote rather candidly in the New York Times (February 24, 2006) "Keeping oil flowing out of the Persian Gulf and through the Strait of Hormuz has been the bedrock of American foreign policy for more than half a century." [i] In complying with
A March, 2012 Gallup Poll is indicative of the dire effects of this decision on the
A simple equation determines the price of oil: supply and demand (granted, at times other variables factor in such as speculators, specifically at times of political crisis, and oil refinery related issues, bearing in mind that much of the oil refineries in America and elsewhere are Israeli owned -- see footnote  ). There is ample empirical evidence pointing to price increases whenever oil supplies are disrupted.
The Iranian revolution and the 1980-88 Iran-Iraq war is estimated to have cost the US a total of $355 billion in higher oil prices (T. Stauffer, 2003 ) [ii] . The oil strikes leading up to the 1978-79 Iranian revolution reduced Iranian oil production by 3.8 million barrels per day for 3 months. Although outside production increased by 1.8 million barrels to make up for the loss, the net loss to the world was 150 million barrels of oil, this fact alone had a compounding result which resulted in a net loss to