{"id":195416,"date":"2008-07-10T17:29:00","date_gmt":"2008-07-10T22:29:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/10\/opec-secretary-general-warns-of-extreme-prices-in-event-of-strike-on-iran\/"},"modified":"2008-07-10T17:29:00","modified_gmt":"2008-07-10T22:29:00","slug":"opec-secretary-general-warns-of-extreme-prices-in-event-of-strike-on-iran","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/07\/10\/opec-secretary-general-warns-of-extreme-prices-in-event-of-strike-on-iran\/","title":{"rendered":"OPEC Secretary General Warns of Extreme Prices in Event of Strike on Iran"},"content":{"rendered":"<p>He is saying that there are <a href=\"http:\/\/iht.com\/articles\/2008\/07\/10\/business\/opec.php\">no supplies or reserves that can replace the loss of Iranian production<\/a>.<\/p>\n<p>Abdalla Salem El-Badri presents the price spikes as potentially &#8220;unlimited&#8221;, which is obviously hyperbole, but when one considers that there is no spare capacity, losing about 5% of oil production doesn&#8217;t just produce price spikes, it produces a real shortage, where one may not be able to find oil at <span style=\"font-weight:bold;\">any<\/span> price.<\/p>\n<p>If there were an interruption of this nature, I would expect oil to spike past $200\/bbl within a few weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>He is saying that there are no supplies or reserves that can replace the loss of Iranian production. Abdalla Salem El-Badri presents the price spikes as potentially &#8220;unlimited&#8221;, which is obviously hyperbole, but when one considers that there is no spare capacity, losing about 5% of oil production doesn&#8217;t just produce price spikes, it produces &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1135,1034,1098],"tags":[],"class_list":["post-195416","post","type-post","status-publish","format-standard","hentry","category-energy","category-iran","category-war"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195416"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=195416"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/195416\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=195416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=195416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=195416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}