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By Brahma Chellaney
Beijing's creeping aggression signals a challenge to U.S. presence in the Asian Pacific
Independent voices from the The Washington Times Communities
Topic - Frank A. Verrastro
As tensions heat up between Iran and the West, the prospect of a big spike in oil prices to as high as $200 a barrel suddenly looms over the U.S. economy, threatening to overshadow what have been promising signs of gathering strength.
"Desperate nations driven to the brink sometimes do desperate and unpredictable things," Mr. Verrastro said. "Even if short-lived, disruption to shipping in the Gulf would undoubtedly wreak havoc in oil markets."
"Closure would do far more damage to Iran in economic terms than the sanctions" the West is preparing to impose on Iran for refusing to abandon its nuclear ambitions, said Frank A. Verrastro, senior vice president at the Center for Strategic and International Studies.