Bending the Third Rail
Because We Should, We Can, We Do
Monday, January 01, 2007
Dry Hole
David Corn has a piece up about the real oil story in Iran. A key graf:
Iran is suffering a staggering decline in revenue from its oil exports, and if the trend continues income could virtually disappear by 2015, according to an analysis published Monday in a journal of the National Academy of Sciences.

Iran's economic woes could make the country unstable and vulnerable, with its oil industry crippled, Roger Stern, an economic geographer at Johns Hopkins University, said in the report and in an interview.

Iran earns about $50 billion a year in oil exports. The decline is estimated at 10 to 12 percent annually. In less than five years exports could be halved and then disappear by 2015, Stern predicted.
Corn discusses the implications of this if it's true. Apparently Iran's oil infrastructure is a mess and they may actually need nuclear power. Hmmmm.....
Written at 12:21 PM by Greyhair.
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