In this profoundly stupid article, Iran is said to hold a Sword of Damocles over the world economy with the threat of refusing to sell oil.
As if Hurricane Katrina didn't prove quite clearly that energy shocks are a mild issue so long as your economy's not being taxed to death.
Perhaps Iran can actually survive and pay a bunch of thugs with its savings. But if they're stupid enough to shut off the oil... good for them. Because every time mid-east oil looks to tank, oil-tar sands and Fischer-Tropf just look that much the better to investors who prefer to do business in places not run by nutballs who think the 12th Imam blesses them with holy light at press conferences.