Comments on: Iran’s oil sanctions are just beginning to hurt http://blogs.reuters.com/breakingviews/2012/06/13/irans-oil-sanctions-are-just-beginning-to-hurt/ Mon, 26 Sep 2016 03:26:00 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: JamesChirico http://blogs.reuters.com/breakingviews/2012/06/13/irans-oil-sanctions-are-just-beginning-to-hurt/comment-page-1/#comment-9363 Wed, 13 Jun 2012 15:55:58 +0000 http://blogs.reuters.com/breakingviews/?p=12170#comment-9363 Long haul truckers here have 40% of their fleets running on LNG at 40% of the cost of diesel. Natural gas production is booming not only in the US but producers like Norway as well. When auto makers begin building cars that run on LNG, their will be a reduction in oil prices by as much as 25% to remain competitive. New Alaskan oil from the leases just sold and Artic water drilling will come online in less than 5 years. Iran can be squeezed further by putting more pressure on China by saying trade with them, you will lose US market share via import quotas on Chinese production.

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