According to this Bloomberg report, a recent Energy Information Administration report concludes that global fuel use averaged 3 million barrels a day more than output when Iran is excluded from the calculations and 500,000 more when Iran is included. In other words, there isn't enough fuel to match demand.
Yet somehow according to the same article, Senator Bob Menendez (sponsor of the most recent Iran sanctions law) states that the same report shows enough spare production capacity to offset Iran's oil, and according to an official of the NeoCon "Foundation for Defense of Democracies" the Iran sanctions don't even play a significant role in oil prices...which continue to rise causing the US to even consider releasing a special strategic store of fuel, even though it probably won't help
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