Resource: Iranian Oil Weapon

The Iranian Oil Weapon by Stuart Staniford comes from a general blog about energy called the Oil Drum.
It was posted in 2006 and talks a lot about disruption in the supply of oil (in Iran) in the context of previous disruptions - particularly in the 70's and the implications of those crises. He also talks about the elasticity of the market and that oil is much more "income elastic" than it is "price elastic" using this to explain the trends in the graphs he uses. The past examples cited, particularly 1979 is explained to probably be the best indicator of what we can expect to happen if Iranian oil production were to cease.

http://www.theoildrum.com/story/2006/1/15/182821/882