Oil Prices and Iran

April 1979 oil prices spiked to 102 dollars per barrel which is 488 dollars today adjusted for inflation. This was due to what was called the Iranian Revolution by the media at that time. Religious Extremists had taken over the Iranian secular government and taken American Embassy Workers hostage. They didn’t represent the majority of the population but hosted sham elections where voting was monitored and the wrong vote could put a person in jail or be put to death. I debated the sense of this with those in school who followed the media at that time. They framed it as a right of the Iranian people to choose their own government. These were the same people who were pushing secularization on schools by eliminating prayer and God from the pledge so supporting religious zealots taking over a government seemed a contradiction. When Reagan was elected they released the hostages fearing retaliation. The Iranian people continue to be held hostage today.

I understand the necessity of eliminating the threat of their extremism to other countries. 82 dollars for a barrel of oil isn’t near 488. Higher prices are an inconvenience to us but the regime is a crisis to them. Tens of thousands of protesters killed. The fear is after having the regimes terror machine destroyed, the Iranian people continue to be held hostage. The risk of rescue could become another quagmire. Since I don’t know precise details I cannot form an opinion on what should come next but am hoping and praying for the Iranian people.