by DantesPeak » Tue 06 Jun 2006, 17:03:01
Let’s look at what actually happened in the 1980s.
Small Iranian speed boats dropped mines in areas where oil tankers usually traveled. A number hit their mark and exploded, and although the damage caused was not always serious, insurance companies started charging a $5 insurance premium per barrel. The US eventually ‘flagged’ Kuwaiti tankers with the US flag, and also had the US Navy follow tankers up and down the Gulf.
I suppose now, with any actual conflict, would cause insurance companies to stop all tanker traffic, at least temporary. If we then fall back to random acts of terrorism like in the 1980s, it may be reasonable to assume that insurance premiums may go to $10 per barrel.
What is most worrying is the threat of terrorism not under the state control of Iran – such as a local missile attack on Abqaiq.
$this->bbcode_second_pass_quote('', 'W')ednesday, May 17, 2006
LATE NEWS: Al Qaeda intent on attacking US oil facilities
By Khalid Hasan
WASHINGTON: A leading expert on Al Qaeda has predicted that in the next phase of the terrorist group’s war on the US economy, the number of attacks on oil infrastructure targets will increase.
Michael Scheuer, who served the CIA for 11 years and was head of the agency’s Osama Bin Laden unit, told a meeting on the threat to Saudi oil industry, organised by the Jamestown Foundation at the Carnegie Endowment for International Peace on Monday that Al Qaeda and its allies are well placed throughout the Persian Gulf to attack oil facilities and officials.
Pakistan Daily Times