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by Rickey Martin
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1) A tactic from Iran to intimidate the western world would be to lower production quotas. One of the world’s leading oil producers, Venezuela, is both an ally of Iran and member of OPEC and likely to support the Iranian position. Even with U.S. backing, the Saudis may be less willing to stand up to Iran and use its excess capacity to moderate the impact of any reduction of oil supplies.

2) While there was much discussion on the pipeline’s revival, the general conclusion was that such an effort would be entirely infeasible, because such a pipeline would be a magnet for terrorist attacks due to the regional stigma attached to Israel.

3)The Rumaila oil field is a super-giant oil field located in southern Iraq.

4) Old Kirkuk pipeline

5) Iran has threatened to close the Strait of Hormuz in response to economic sanctions or military action aimed at its nuclear program. Over 17 million barrels of oil per day flow through the Strait , and the mere threat of closure has kept oil prices elevated.

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