Forbes: “When US Has The Confrontation With Iran, Price of Oil Will Drop"

[RedEarth]

Steve Forbes: “When We Have The Confrontation” With Iran, “The Price of Oil Will Come Down”

Appearing on Fox News this weekend, Steve Forbes said the way to lower gas prices is to “have the confrontation with Iran.” Forbes warned Fox viewers that “the longer we let it fester, the higher the price of oil will stay.”



Transcript:

FORBES: Well, it’s interesting. And about $15 a barrel on the price of oil today is worry about Iran, that crisis.

HOST: So, without Iran, the price of oil would be $15 less per barrel is what you’re saying.

FORBES: Yes, it would. There is real uncertainty, huge producer. But the bottom line with Iran is, when we have the confrontation, which we will have, we can really deal with that crisis. Then the price of oil will come down. The longer we let it fester, the higher the price of oil will stay.

Watch the video here.....

http://thinkprogress.org/2006/04/17/forbes-iran-oil-prices/

[Ian David]

1. Can we have a war with the Dutch so tulip bulbs will be less expensive?n/t

[exlrrp]

5. And pot seeds?

.

[converted_democrat]

34. Look at it in this context though... Article from 08-30-05

http://www.forbes.com/business/feeds/afx/2005/08/30/afx2195813.html

SYDNEY (AFX) - Oil prices are set to crash from this week's record highs as a speculative market bubble bursts with an impact that could make the hi-tech bust of 2000 'look like a picnic', business publisher Steve Forbes has predicted.

Forbes said the high oil prices currently dampening the US economy, which peaked at more than 70 usd a barrel yesterday as Hurricane Katrina headed for the US Gulf Coast, would fall to 30-35 usd a barrel within a year.

'I'll make a bold prediction... in 12 months, you're going to see oil down to 35-40 usd a barrel,' he said, according to Agence France-Presse.
----------
So he's either full of BS, or they've been planning the attack on Iran for awhile.. Or both..

on edit- I think Iran will block the Strait of Hormuz, and make prices go through the roof..

[enid602]

2. Yuk

Yuk. What twisted logic.

[Mojorabbit]

3. By that logic

we need to hit Venezuela and Nigeria too. Bleh

[chaumont58]

18. Just think what it would do if we hit Saudi Arabia

Iraq, Iran, Saudi Arabia, Venezuela, pretty soon it would be down to zero.

[Supersedeas]

44. regime change is the mantra

[Ian David]

4. Until OPEC embargoes us, anyway. n/t

[shadowknows69]

9. That's complete madness

n/t

[KeepItReal]

6. Give these idiots an Emmy....that is some GREAT ACTING

There has not been one oil tanker sunk in the Persian Gulf since when...and oil prices are already high?

If Bush & Co. start lobbing missiles at Iran, and Iran starts sinking oil tankers, the price of oil is gonna actually go *down*?

Steve Forbes and friends at Faux News needs to lay off the crack pipe for a bit.

[leesa]

7. From the mouth of a PNAC criminal...So he and his buddies will drop prices

when we invade for them. We are being held hostage by these bastards. So his greedy buddies in the oil industry making 300% profits can't do anything about the prices we pay? This freak is a liar and he is holding us hostage.

[NanceGreggs]

8. So this is how they plan to 'sell' another war?

"Get behind us on this one, and we'll give you a little (temporary) relief at the gas pump."

[Emit]

31. My first thought, too! n/t

[Neil Lisst]

10. Teve Torbes is another idiot son who never did anything on his own

I just wish his old man was alive to slap some sense into him.

[TheFarseer]

11. "$15 a barrel on the price of oil today is worry about Iran"

The mere thought of a confrontation with Iran makes gas shoot up, so let's actually do the thing it is worried about and that will HELP!?!?!?!?! He's not that stupid. What is his agenda? War makes money for corporations? War sells Forbes magazine? Does he have oil stocks? That is the absolute dumbest thing I've ever heard if he really believes that.

[ogradda]

12. What kind of propaganda bullshit is that?

What a load of garbage.

[Nickster]

13. OMG, this man is insane. The price of oil will skyrocket on an attack in

Iran. It doesn't take a freaking economist to understand that. Gee, remove even more oil exports from the market, that'll make prices go down. Yeah Right!

[converted_democrat]

36. I agree with you, but it looks like he's been pushing the idea of lower

oil prices since 08-30-05.. Look at post #34, the article is there.. Either they've been planning to attack Iran for awhile, or he's full of shit or both.. It's kind of creepy when you read the article and put it in today's context..
-------------------------------

Edited to add article, and link..

http://www.forbes.com/business/feeds/afx/2005/08/30/afx2195813.html

SYDNEY (AFX) - Oil prices are set to crash from this week's record highs as a speculative market bubble bursts with an impact that could make the hi-tech bust of 2000 'look like a picnic', business publisher Steve Forbes has predicted.

Forbes said the high oil prices currently dampening the US economy, which peaked at more than 70 usd a barrel yesterday as Hurricane Katrina headed for the US Gulf Coast, would fall to 30-35 usd a barrel within a year.

'I'll make a bold prediction... in 12 months, you're going to see oil down to 35-40 usd a barrel,' he said, according to Agence France-Presse.
----------
So he's either full of BS, or they've been planning the attack on Iran for awhile.. Or both..

on edit- I think Iran will block the Strait of Hormuz, and make prices go through the roof..

[gordianot]

14. Also oil will be cheaper if you use Confederate Currency.

[berni_mccoy]

15. The facts point to the opposite:

Since the Iraq war, OIL has only gone up and the profits of oil companies and defense contractors are reflected in their market indexes.

The only companies thriving from war in the middle east are shown graphically in my sig.

[Jose Diablo]

16. Say what?

How will disrupting the flow of oil make the price go down? Have we jumped into another universe? Reducing supply raises prices. At least thats what I have always thought.

Or is this another one of those, "they will welcome us with flowers" moments?

[rkc3]

25. And the "War will pay for itself - no taxpayer monies will be required"

comments. These guys are geniuses.

[TreasonousBastard]

17. Friggin' Idjit! When the Strait of Hormuz is closed...

just how high will the price go?

Who the hell is Steve Forbes to be talking about this anyway?

[DS1]

19. Ship him and his entire goddamn family to Iran, then

:grr:

[Jack Rabbit]

20. Forbes is full of baloney

The rise in oil prices is due to some developing nations becoming more developed: in particular, China and India, both of which have large populations and need oil to fuel their economies. Those two nations will now be buying it at greater quantities, which will mean that there will be more competition among buyers for the product. This explains why production is at an all time high, yet so are prices. Demand has outstripped supply.

No one producer figures into it. If Forbes wants to use mass murder to bring down oil prices, it would make more sense to nuke China.

[Norquist Nemesis]

21. What a reckless and irresponsible comment!

Not to mention completely loonytunes!!!

[Canuckistanian]

22. Sure, just like Iraq made the prices go down...

Face it, if any two oil-producing countries go to war with anything more deadly than sticks, the price of oil goes up.

[MadisonProgressive]

23. I saw we go with his plan

as long as he's willing to be strapped to the first cruise missle.

[Commie Pinko Dirtbag]

24. I thought cocaine was the drug of choice for those money types

not CRACK.

[Spider Jerusalem]

26. Right-o, Steve.

Four million barrels a day of Iranian oil production suddenly unavailable to world markets means demand exceeds supply by millions of barrels a day (current demand: right at 83-84M bbl/day; supply at about 85M bbl/day...the margins are razor-thin); if anything, oil prices will go up (I wouldn't be surprised if the $100/bbl mark was touched if not surpassed).

[confludemocrat]

27. Yeah Steve, yer a counterintuitive genius. Hadn't thought of that.

wow, yeah, unlike with every other war in that region EVER, it will different THIS TIME, and oil prices will drop! I want to see the fucktard lay on money on that prediction.

[Ishoutandscream2]

28. These bastards see war as a way of making money

They are capitalism at its worst. Those Fox money shows have some really sick, right-wing, twisted monsters.

[Jacobin]

29. Forbes is more consistently wrong that Faux News

and that takes some doing.

That guy and his magazine are ideologues. Go back and read some issues from 2001-2003 on their predictions and their 'ideas' about world events and compare them to current events.

Forking idiots

[newportdadde]

30. Congrats Steve, you found something dumber to say then your flat tax!

Fucking idiot.

[bigtree]

32. it just shows that they will say anything to get what they want.

I don't think he's been reading much on this. He forgot the reprisal attacks and the ensuing embargo. It's not like we're going to roll over Iran like we did Iraq.

[Justice Is Comin]

33. What a dolt.

Iran will make oil so expensive here it will be cheaper for a family of four to buy tickets for the movies than to drive to the theater.

Venezuela will make up the cut off of oil sales to the Asian and European countries, and also stop selling to the U.S. They will be thrilled and the only place we'll be able to get ANY oil will be from Canada. If we're lucky !

Then plan for a never before heard of in this country explosion of suicide bombings by the Muslim population and sleeper cells living peacefully now in America. They will make Iraq look like Switzerland.

Forbes you are a 48 karat academey award winning mentally deranged dolt.

[maxsolomon]

35. pre senile dementia

if his point is that getting the confrontation with Iran over & out of the way PEACEFULLY, so markets no longer worry about it, i guess it makes sense.

"the spice must flow" - the spacing guild, dune

[DELUSIONAL]

37. There is a long of wisdom in DUNE

Sometimes it is hard to separate SciFi from Current events.

[LunaC]

38. Forbes is a PNAC Ghoul

I'm not surprised that he's tring to justify military action against Iran with unmitigated bullshit...it's the PNAC way, doncha' know?

[KAT119]

39. If Nukes are used the oil fields could be radioactive for centuries- if

bunker buster 'conventionals' are used, Iran (& all oil fields) could be totally destroyed by way of their extensive fault lines and MASSIVE EARTHQUAKES - which they have experienced far too often. They will definitely fight back fiercely and that could be the End of everything in the material universe.

[Bushwick Bill]

40. Jesus, Steve, even Pat Robertson gets it.

Apparently, Pat Robertson had two peak oil rock stars (Matt Simmons and Roscoe Bartlett) on his show recently and understands what is coming in terms of production depletion and price increases. What a strange world it is when that maniac has a clearer view of the picture than a finance maven like Steve Forbes.

I think Forbes has some history of pushing certain opinions publicly, then going the other way in private.

[warrens]

41. What a looney toon

Did he use the word "cakewalk" too?

[tabasco]

42. Just another rich traitor bastard.

Putting his war profits ahead of the interests of the USA.

These assholes need to have their money taken away and forced to work for a living.

[Initech]

43. Nuke Iran - good for America!

Ah what a great strategy Forbes!

:nuke: