Iran’s oil minister said today in Tehran that his country’s oil exports are expected to reach and remain at least at $80 billion a year. Iran currently exports some 2.2 million barrels a day. The uprisings and uncertainties in the Middle East have pushed the price of each barrel of Iran Heavy above the $100 mark, and rising. At $100 per barrel and 2.2 million bpd in exports, the country’s annual oil revenues would reach $80 billion.
The Shah’s government at the height of Iran’s prosperity in mid-70s enjoyed oil revenues of $20 billion. Even accounting for population increase and the rate of inflation, the quadrupling of oil revenues creates an unparalleled opportunity for the Islamic Republic to continue its hold on power.
"Even accounting for population increase and the rate of inflation, the quadrupling of oil revenues creates an unparalleled opportunity for the Islamic Republic to continue its hold on power."
ReplyDeleteWell, that and the fact that over 80% of Iran's electorate offer a level of satisfaction for the Islamic Republic of Iran and see their government as legitimate:
http://www.worldpublicopinion.org/pipa/pdf/feb10/IranElection_Feb10_rpt.pdf
Its good to see an information website on Iran that offers interesting news and perspectives originating from within the country. I'm not for or against the administration there. I just want to know what is happening and how this might affect the wider region.
ReplyDeleteSo thank you for helping with this.
khananel