Iran running out of oil?
The Information Center on Intelligence and Terrorism says that Iran is running out of oil. Iran will turn from the world's fourth leading exporter of oil to an importer in eight years, according to a special report issued by the Tehran government, which was translated and distributed by the Information Center on Intelligence and Terrorism.Maybe they can import it from Venezuela. Heh.
The report cites an eight percent average drop in production a year, coupled with a five percent annual increase in consumption. It also notes a drop in foreign investment in Iranian oil fields, where $4.5 billion a year is needed to maintain its current 2.5 million barrels-a-day output.
posted by Carl in Jerusalem @ 12:28 PM
2 Comments:
The sanctions would be effective if the Chinese stopped building a new refinery for the Iranians. And you can be sure the regime will reserve whatever oil it has refined for its troops and not for the civilian population.
What could go wrong indeed
It's probably not due to the availability of the stuff, but more of the lack of infrastructure investment.
I guess the government of Iran is betting large on uranium powered cars...
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