of oil. >> whatever happens on this scenario we'll see higher rather than lower price? >> i think in the near term as we see pressure mount on iran, if the eu follows through on sanctions, i think this will result in the short term of increased oil prices, just given the risks of that disruption of supply. >> significant, could you put a number on it? >> i think it's difficult to put a number on it. in the short term i could see oil testing over $120, $125 a barrel. >> brent? >> yes, brent, those kinds of number. like we saw in 2011, of course, with libya, this is the point at which the marginal consumer in the u.s. starts to get squeezed out, starting driving less and it begins to impact the global economy. >> it's a tipping point, isn't it? >> yes. >> charles? japan's prime minister want tos double the sales tax from 5%
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