|
West Adds to Strains on Irans Lifeline
Western political and economic pressure on Iran over its nuclear program has chilled foreign investment to the extent that it is now squeezing the countrys long-fragile energy industry, adding strains to a government that is burdened by sanctions and wary of unrest at home.The worlds fourth-largest oil exporter, Iran sits on the second-largest oil and gas reserves. But it has struggled in recent years to keep its oil production, currently running at about four million barrels a day, from falling. Some analysts say that if this acute imbalance between stagnant production and rising demand at home continues unchecked, Iran will have no oil left over to export within a decade. Its oil exports, totaling $47 billion last year, account for half the governments revenue. Posted by: tu3031 2007-02-14 |
| http://www.rantburg.com/poparticle.php?ID=180417 |