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The Strait of Hormuz is arguably the most strategically significant transit chokepoint in the world with about one-fifth of global oil consumption passing through each day. Yet there are concerns fanned by provocative Iranian statements and actions that the narrow waterway may be blocked by Tehran either in order to increase its leverage in negotiations over the regime's nuclear ambitions or in retaliation for any military action against its nuclear facilities. The spike in petroleum prices resulting from such an occurrence could wreak havoc with economies around the world. However, a close examination of Iranian capabilities leads to the conclusion that although the threat should not be dismissed, it is not cause for alarm. This judgment is confirmed when consideration is given to the consequences that Iran might face should it actually provoke a crisis by attempting to block traffic through the strait.