If Iran does close the straights I can’t say for sure what all the consequences will be, but I can guess at a few:
1. The time it takes for the US to reopen them can be measured in minutes
2. Cost to Iran, very high
3. Obama gets re-elected
The Iconoclast has more analysis here
The first two are extremely possible, but given the continuing sad state of our economy under Obama and his love for the other Islamic states, he’s got a lot of explaining to do. Bin Laden was killed and it only gave Barack a popularity boost for about a week.
That is why it will be very interesting to see what week exactly this happens.
Here we go again, the West sticking its nose into other countries business, and staring around in wide eyed amazement when they stir up a hornets nest, and are resented by the rest of the “Islamic” world.
Why can’t we just leave Iran alone to get on with it. If they are a clear and present danger, declare war and flatten them. Until that time, leave other countries alone.
Jeez it just never ends.