Iran Captures British Sailors, Earns $34 Million Oil Dollars
Iran does something presumably bad. They capture British sailors. Why did they do this? Supposedly because the sailors were in Iranian waters. Even if true, that does not justify capturing them, in my opinion.
So what's Iran's punishment? Remember, Iran is one of the larger oil producers in the world. When British sailors are captured, investors and consumers get scared, and the price of oil goes up.
According to one estimate, Iran has made $34 million extra dollars this week as a result of the higher oil prices, which are a result of the capture.
I'm not sure what the solution is, but we're going to have a problem with this set of incentives. If Iran has strong monetary incentives to capture sailors, then it doesn't take a political expert to realize that they're going to capture them.
Published by Scott Schlimmer
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3 Comments
Post a CommentI honestly haven't heard about the 5 captured Iranians, but I don't quite see how it's relevant. Would that make capturing sailors appropriate? That's the sort of logic that causes never ending wars. Agreed, GPS isn't significant "proof", but it's stronger than the "most probably" guess/proof. Why the double standard? Were the British in Iraqi or Iranian water? Who knows? More importantly, why does it matter? I'm not one to comment on "evil," which is painfully subjective. But there's no question that abducting sailors and then getting paid for it with higher oil profits...that's ironic.
My question is: what is the US up to? They captured 5 Iranians that were in Iraq on diplomatic visas. They haven't been charged and the Iranian government doesn't have access to them. Oh, but I forget that they are the 'evil' ones. So its legitimate for us to do it, but when they counter-act its called hostage-taking.
And this whole thing about GPS readings being "proof" is a load of BS. It's like someone charged with a hit-and-run giving the GPS reading of some location and saying "therefore I'm innocent". I doubt if the Iranians are that crazy to actually go into Iraqi waters and seize British troops. They most probably stopped the Brits and informed them they are in Iranian waters and that they are going to have to arrest them. If the Brits were in Iraqi waters they could have said screw you.
6 diggs and no comments? Lots of you are reading the article, but are silent. Let's hear it. What do you all think? Have any solutions?