Things that a stay at home dad worries about - Part 2.
More sabre rattling today over Iran's nuclear ambitions as the West sent six warships, led by the US carrier USS Abraham Lincoln, through the Strait of Hormuz yesterday in a show of strength. Iran is threatening to blockade this globally important waterway, through which approximately 35% of the worlds ship born crude oil passes, in retaliation of sanctions placed upon them.
If this were to happen then it is predicted that the price of crude oil, which is bouncing around the $100 a barrel mark, could rise to over $200 a barrel. Now this could be good for the profits of oil companies (and Iran's failing economy ironically) but it would be disastrous for the global economy, which remains fragile, tipping it back into recession, and pushing costs up for everyone. Also there is the very real threat of military action in the region, which could spread as other countries get pulled into a wider conflict.
As a family of five with only one of us working it would put family finances under strain not only for us but for hard pushed families across the country at a time when everyone is feeling the pinch.
Is it down to the West to police the nuclear ambitions of other countries, and is there a secondary policy of hoping to destabilise Iran's economy in the hope of a democratic uprising in the country (which have been crushed in the past)?
In the mean time, life goes on and I had better start getting my youngest daughter ready for her Monday afternoon at pre-school. It is a glorious day in Bembridge with crystal clear blue skies above us and a winter sun shining down on us. Take care.
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