What if Israel bombs Iran?

Consider the most-often mentioned Iranian responses to a possible Israeli strike:

1) Iran closes the Strait of Hormuz. Often cited as Tehran’s knee-jerk answer — along with projections of astronomic oil-price spikes because of the disruption of supplies from Persian Gulf producers — this option is neither feasible nor advisable for Iran. The U.S. would quickly overwhelm any effort to close the Strait, and Iran would be risking U.S. attacks on its land-based military. Direct military conflict with Washington would turn a bad situation for Iran — disruption of its nuclear program — into a potential catastrophe for the regime. Prudent hedging by oil traders and consuming countries (though not their strong suit, historically) would minimize any price spike.