In uploading the video Press TV introduced the segment thus:
"A distinguished professor says the Zionists have pressured oil-starved European countries to reject Iran's oil, thereby impacting financial markets around the world."The transcript runs as follows:
"The recent news has already started impacting the market; tell us about the indications of this recent hike in crude prices."Foote:
"The basic facts are that Europe has very tiny amounts of energy resources. They have to import almost everything they need. And Iran has been a good supplier to them.
While the Saudis and some others may have claimed that they will make up the differences, it will take time to change shipments, refineries and get things ready. So, there will be a gap.
And as you noted, prices will increase short term, at least, if not longer."Press TV:
"How will the oil market look like if Iran stops exports to all European countries?"Foote:
"It certainly will be an increase in prices at least for the short term and maybe even longer term. I mean, Europe’s energy needs will not go away anytime soon. They are desperately starving for oil and other resources.
This problem has gone back for any Iranian who’s ever studied Iranian history, they know this story. You had the D’Arcy Concession which led to the creation of BP. Winston Churchill called it a fairyland beyond all belief for the Brits, that they got almost all of Iran’s resources for nearly nothing.
In the early 1950s, British and French ships stopped oil cargo ships from going to and from Iran successfully, and were able to bring down Mosaddegh’s government.
They think they can do it one more time hopefully with countries such as China needing the energy and not being able to be stopped. They won’t be able to make it this time.
In the past they’ve had great success in robbing the Iranian people of their resources at nearly zero prices."Press TV:
"Would you say that it's already apparent that Europe will have more to lose than to gain with these US-pushed sanctions?"Foote:
Absolutely, for an energy poor region of the world, they have no business playing these kinds of energy games just to satisfy the Zionist totalitarians who want to control the entire world." [My emphasis]
For more on Professor Foote see this article and its comments and this