The Hill News

Our nation needs no greater reminder of the hidden costs of our national addiction to foreign oil then the fundamentalist government of Iran threatening to choke off oil shipping through the Strait of Hormuz.
 
Those threats demonstrate why oil companies are so resistant to allow competitors, like ethanol, from ever reaching the market in enough volume to actually make a difference in prices. Future contracts for oil went up virtually every month of 2012 â€" an enormous profit for oil companies â€" with the word of Teheran naval maneuvers in the Strait.
 
Those profits for oil companies come at the expense of Americans, who are paying more for everything from gasoline to groceries. And that’s just on rumors. If Iran actually does blockade or disrupt the Strait, analysts warn us to expect a severe shock to our national economy â€" meaning our fragile recovery could go into a tailspin as businesses face higher manufacturing and shipping costs.

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