British/Iranian Crisis is Latest Excuse for Oil Prices to Increase: Oil Speculators At It Again

Let's see where increased oil prices fit into this latest Persian Gulf controversy:

1. British Navy intercepts cargo ship to inspect it in disputed Iraqi/Iranian waters...
2. Iran seizes 15 British sailors and marines who were the boarding party and take them to Tehran for questioning....
3. Britain and Iran exchange angry words....
4. Reports of U.S. and Iranian troops exchanging fire inside Iraqi territory. U.S. troops retreat out of fear of being taken hostage....
5. Iran is isolated from the international community...again.
6. Bush, Blair and Iran's terrorist president start the blame game anew.
   

How much has the oil supply fallen as the result of the British/Iranian row? NOT A DROP.

Has the Strait of Hormuz been closed to international shipping? NOPE.

Has the Strait been mined? NOPE.

Has Iran threatened to sink any tankers? NOPE.

Any refineries set ablaze? NOPE.

Any oil production facilities damaged or destroyed, leading to a drop in oil production? NOPE.

Any net effect whatsoever on the available oil supply? NONE.

Any tidal waves, hurricanes, tornadoes, or other natural disasters that could explain the price increases? NOPE.

Hmmm....

Are the oil speculators worried? Yep.

So, in spite of the fact that there is no decrease in oil output from the ongoing feud between Britain and Iran, and the oil supply is unaffected, the price for a barrel of oil has gone way up again.

The oil speculators and oil companies should pay for the artificial increases that they've created WITHOUT charging more at the pump. The British/Iranian issues are irrelevant to the cost of a barrel of oil, unless the missiles start to fly. Enough of the excuses, already!