Iran threatens, Saudis, Kuwaitis, and "the entire Mid East Oil"

In a move reminicent of the OPEC embargoes of the 1970's, Iran today has once again econimically threatened the West. In an article titled, Iran threat: Attack by West risks all 'Middle East oil', WorldTribune.com reports:

In the first such threat, a leading Iranian official raised the prospect of Iranian retaliation against Middle East oil exports. The official said such Gulf Cooperation Council oil states as Kuwait and Saudi Arabia could be threatened.

"An attack on Iran will be tantamount to endangering Saudi Arabia, Kuwait and – in a word – the entire Middle East oil," Iranian Expediency Council secretary Mohsen Rezai said on Tuesday.

About 40 percent of the world's crude oil shipments pass through the two-mile wide channel of the strategic Straits of Hormuz. Iranian forces are deployed at the head of the channel. Oman and the United Arab Emirates are located on the other side.
Teheran could easily block the Straits of Hormuz and use its missiles to strike tankers and GCC oil facilities, according to the new edition of Geostrategy-Direct.com. Within weeks, the rest of the world would be starving for oil and the global economy could be in danger.