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NUS Consulting Group’s Richard Soultanian on Iranian sanctions, oil prices and a potential military strike.
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And -- even higher gas prices the national average for regular moving up another one cent overnight to 344.
Diesel 370 -- Let's bring in oil watcher Richard -- -- Richard always a pleasure to have you -- thanks for having me.
Now we're looking the whole situation in the Middle East when looking at oil above ninety dollars a barrel because of tension in the gulf and the possibility of action around Iran.
You think.
There's going to be a military strike on Iran soon dementia yeah I do I I think they'll like that's very high I think there will be and I think it'll be -- pinpoint military strike.
Focus specifically on there doing -- enrichment facilities of the that's a good question will be joint Israeli US or will it be strictly Israeli with the support of the US that's I think the latter is unlikely it's gonna happen I think it will I think will happen.
Might might view of it and again this is a view based on all the facts out there is.
They will happen late August September 'cause it can't happen too close to the election -- look like an election stunt or some sort of political move so.
And you can see you going to -- what is second if that happened the price of oil goes straight up the death not good for the president and an election here but no let's play this area.
But in my view this airport works like this I mean we've got crippling sanctions on Iran they're they're oil revenues have dropped significantly.
But they have not -- They will not state do not seem to be willing to capitulate on the uranium enrichment as well that's what -- remnants consul general just Alitalia -- -- of the Israeli consul general the other -- told a little that I have been abandoned -- sides for one -- the Iranians view it as.
They have a right under the MPT to -- -- enrich uranium and they are.
They haven't yet.
All the facts that they -- they haven't yet moved towards weapon -- -- so they're saying what we're doing is completely legal and why should we give up a write and think about this fight.
In the negotiations with the his airplane parts.
I mean not a really good deal I would think on their part -- you know they were looking for reduction sanctions -- get it so why would we strike.
Well why would America and Israel or Israel wants front now.
What what I mean I think what will happen is is you can't let them get too far down the road as as the consul general -- It's kind of like he didn't need to have a weapon if they have all the ingredients that's enough I gotta tell you Richard I think exact opposite why should an American president takes such a risk.
Without any obvious reason to go and do it now.
Months before an election well I -- I think right at this point I I'm not saying that they're gonna put boots on the ground and nothing is gonna be one of these you know went about military action until about went to let that type of action.
About you gonna wake up 1 morning you're gonna open the paper -- you're gonna say.
A strategic surgical strike on three or four really are -- it -- Could Israel just take action -- -- -- because the you know there's obviously been tension between Netanyahu and President Obama ethically on this -- -- Israel's clock probably.
You know they're they're midnight clock is probably a lot closer than our midnight clock with respect and I ran having the -- so could ultimately they just do this on the room.
Well couple -- and I agree there's two clocks -- there's an Israeli talk put clock ticking and there's the US won the Israeli clock is ticking a lot after the now tonight I don't think President Obama wants to this.
He's got a lot of pressure from from the Israelis one -- a lot of pressure from our allies to get a lot of pressure from congress but.
You gotta remember -- these facilities are very deep underground.
And so they and they have to fly a long way they -- have to fly over Iraq.
It's a long -- they need refueling capability and they need the big bunker buster bombs that they get out you know we've got yes we've -- you know Richard you have been reliant on occasion in the past we'll see what you right now do you think will be this.
If it happens we'll see the price of all spike 1520 dollars.
We will immediately get a a press release saying that the IEA is going to release reserves around the world that'll bring prices down another say five or ten dollars to try to calm some of that.
Sort of huge uptick.
The next question and I think the open question at this point times.
What type of response that we get from Iran.
-- I think they be forced to close the straits but can't we have to -- the -- battle carrier groups -- right Richard -- and we appreciate you being with us less if you want this done thank you Bradley.
Back to the call.
