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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Iran Out of Oil?

Roger Stern is an economic geographer working out of Johns Hopkins University. His recent analysis of Iran’s oil production indicates that it is declining by 10–12% per year. He extrapolates that Iran’s oil export income could disappear entirely by 2015. His key statement follows:


Energy subsidies, hostility to foreign investment, and inefficiencies of its state-planned economy underlie Iran’s problem, which has no relation to "peak oil."

Iran’s oil fields just need some TLC and a dash of new technology.

Sanctions against Iran’s nuclear program are a related issue. Does Iran need to develop nuclear power or should it be trying to get more oil out of the ground?