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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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