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October 10, 2012 5:57 pm

Report: Nuclear Iran Could Double Oil Prices, Cost Millions of U.S. Jobs

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Iranian Supreme Leader Ayatollah Ali Khamenei. Photo: Screenshot.

Free Beacon – Oil prices “could double,” increasing the U.S. price of gasoline by up to $2.75, if Iran is permitted to obtain a nuclear weapon, according to a new economic analysis by a bipartisan team of current and former government officials.

While much attention has been given to the costs of preventive military action against Iran, a new report by the Bipartisan Policy Center shows that, over time, “gasoline prices could increase by more than 70 percent,” sending America “into a severe recession” and costing the country “more than five million” jobs.

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  • Atheist of MN

    Iran could, but they won’t because increased oil prices for Americans will finally stimulate a drive to more fully develop solar and wind energy, which would deprive all OPEC nations income from their oil. We could even see the end of ‘mountain top removal’ in West Virginia.

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