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Iran Oil Profits to Disappear in 2015

Newspaper

article by Matthew Vea (VnutZ) on 26 December 2006, tagged as worldaffairs

A study conducted by the National Academy of Sciences reports that Iran’s oil profits are dwindling despite growing worldwide demand. Earning $50 billion annually for exporting what has been its lifeblood since 1920, Iran is experiencing a regular 10% decline in oil profits. The heart of the matter appears not to be one of capacity, as Iran possesses the world’s second largest reserve of conventional crude. Rather, Iran’s inability to meet the export quota established by OPEC betrays what appears to be a lack of investment into production capability.

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Great!! by Anonymous :: NR0

Wonderful. Maybe this situation will make Iran more likely to deal. They’ve got sanctions agaisnst them now, maybe some more will make an impression if their economic outlook is bleak.

Posted 26 December 2006, Hide, Reply