Thursday, September 20, 2012

World oil price to increase, what are future- Fix Biofuel now.


The United States Navy, and the navies of 24 other nations, prepare to counter the threat Iran poses to the Strait of Hormuz, a vital trade route.(Official U.S. Navy Imagery/flickr)
The United States Navy, and the navies of 24 other nations, prepare to counter the threat Iran poses to the Strait of Hormuz, a vital trade route.
(Official U.S. Navy Imagery/flickr)

Tensions Mount in the Strait of Hormuz

September 19, 2012  •  From theTrumpet.com
 
Amassive fleet of navy vessels from around the world converged on the Strait of Hormuz last week to prepare for an annual 12-day naval exercise. Ships representing 25 nations, including the United States, Britain, France, Saudi Arabia and the United Arab Emirates, began exercises Sunday in preparation for potential retaliation from Iran should Israel strike Iran’s nuclear sites.
Fearing that Iran might close down the Strait of Hormuz, the fleet is scheduled to conduct exercises on “how to breach an Iranian blockade of the strait and … counter-mining drills,” as well as destroying Iranian ships, fighters and missile batteries in the Persian Gulf area, the Telegraph reported. Though these war games are conducted every year, never before has such a large force participated. The exercise will include three full U.S. carrier groups, each accompanied by dozens of support vessels and carrying more aircraft than the entire Iranian air force.
With tensions mounting between Israel and Iran, Western powers are concerned Iran will retaliate by closing the strait, which would prove costly to the U.S., Britain, Europe and Asia. Eighteen million barrels of oil, roughly 35 percent of the world’s traded oil, flow through the strait every day.
The Strait of Hormuz has long been a disputed area and a significant bargaining chip in Iran’s favor. Fear of the strait being closed is always a deterrent for Western powers to take action against Iran. If Iran were to close it, the economic impact would be immense, as the cost of oil would rise drastically.
For years, the Trumpet has prophesied about Iran’s “pushy” foreign policy. The closing of the Strait of Hormuz would be just another step in Iran’s increasingly aggressive policy.
To understand the significance of what is going on in the Strait of Hormuz, read “Europe, Iran and Bible Prophecy Come Alive in the Strait of Hormuz!”