Posted on 12/08/2006 2:35:31 AM PST by Mel Gibson
Few countries can match Iran in its ability to generate angst among Westerners. It appears determined to become a nuclear power. Tehran's Islamic leaders aid radical groups across the Middle East. And as the U.S. gets bogged down in Iraq, Iran's influence in the region is on the rise, fueled in large part by its vast energy wealth.
Yet Iran has a surprising weakness: Its oil and gas industry, the lifeblood of its economy, is showing serious signs of distress. As domestic energy consumption skyrockets, Iran is struggling to produce enough oil and gas for export. Unless Tehran overhauls its policies. Within a decade, says Saad Rahim, an analyst at Washington consultancy PFC Energy, "Iran's net crude exports could fall to zero."
That's not to say Iran doesn't have abundant resources. The country's 137 billion barrels of oil reserves are second only to Saudi Arabia's, and its supply of gas trails only Russia's. Iran has been producing just 3.9 million barrels of oil a day this year, 5% below its OPEC quota, because of delays in new projects and a shortage of technical skills. By contrast, in 1974, five years before the Islamic Revolution, Iran pumped 6.1 million barrels daily.
It's not just oil that Iran is failing to exploit. The glacial pace of negotiations is also making it fall behind neighboring Qatar in exploiting the huge offshore gas field that the two countries share. While Qatar has signed up the likes of ExxonMobil (XOM ) and Shell to develop the site, Iran's talks with Total and Shell have progressed far more slowly. Iran is now a net importer of gas, a situation not expected to reverse before 2010.
Graphic Illustration Click here>:Why Iran's Oil Ouput is Falling!
(Excerpt) Read more at businessweek.com ...
When I worked for the Qatari ExxonMobil affiliate, RasGas, the North Field accounted for 12-13% of ExxonMobil's Net Profit. Unbelieveable cash (gas) cow. When you drive from Doha 70 km to Ras Laffan where the LNG plants are located, it's like finding Las Vegas, there are 6500 workers out in the middle of nowhere.
Apparently their plan is to be exporting nuclear weapons in the future.
Maybe why so many Iranian aircraft containing Revolutionary Guards have..."crashed"?
As you well know, it's them JOOOOOOOOOOOs fault.
The Iranians should have no fear now that the RATS control our purse strings. The appeaser RATS will give them all the foreign aid they need, so they will like us.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.