Chart of the Day: the oil sanctions are working on Iran
Friday, July 13, 2012 at 10:17AM
Thomas P.M. Barnett in Chart of the day, Iran, Middle East, Obama Administration, US foreign policy, energy

Arguably the primary reason why Israel holds off attacking - that and its modest satisfaction with the success of the combination strategy of cyber warfare attacks and assassinations of technical personnel.

You can see that the sanctions have taken about a million barrels a day - or about 40% of daily production denied in terms of sales.

That is significant - and a genuine success for Obama.

The hottest subject in oil deals today involves anybody who has been a regular buyer of Iran.  All of these states are looking to replace - now.

And no, they don't all go running to the Saudis.

This chart is a month old.  More recent news says roughly 50% drop in May-June alone.  Not sure I buy that. Lots of desperate deals happening out there involving Iran.  But clearly, the trend is downward and steep.

I honestly do believe that the Arab Spring is helping plenty.  With Syria on the ropes, the anti-Iran long knives are out.

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