The West isn't lacking anything.

Either OPEC jacks up production or we will strip them of their options. Now you can cry all day about how unfair it is. But the West will not allow OPEC to cripple the world's economy because of tender feelings surrounding Iran.

The moment OPEC is seen as holding the world up over some political issue, the clock starts ticking on their ownership of their oil fields.

Remember that the socialist are tolerated as long as the world can afford to tolerate them. At $145 barrel, the tolerance really becomes rather tedious.