Time for more moronity from Cambridge Energy Research Associates

Surprisingly, it’s not Peak Oil Denial, $30/bbl oil pie in the sky or anything similar

No, this time it’s about the possibility of sanctions against Iran, and how gradually stepped up sanctions, including on refined gasoline, could hurt the country.

Here’s the word from CERA’s James Placke.

“Iran’s vulnerability is its gasoline imports,” said Placke, senior associate with Cambridge Energy Research Associates and a former U.S. diplomat.

The U.S. Energy Information says Iran imports about 170,000 barrels per day of gasoline, about one-third its needs.

First, this is Iran, not Iraq. Although there is a fair amount of more liberal discontent, the mullahs will likely have no trouble rallying the country in the face of Western sanctions. As part of that, if gasoline rationing is needed, they’ll do it.

Second, the China, Russia (and India, not mentioned in the article) that want to do oil business in Iran will either build Iran one or more gasoline refineries or else transship refined gasoline down the Caspian Sea if necessary.

If this former diplomat is the type of person providing unofficial back-channel advice to BushCo, we’re in big trouble.