via Lobe Log
Iranian oil expert Dr. Sara Vakhshouri, featured this week at the Atlantic Council, asks whether the world can live without Iranian oil and if Iran can survive under further severe economic sanctions. The answer, she says, depends on the timeframe in consideration and a multitude of other factors, such as how Iran responds to present and upcoming challenges — like the international sanctions regime and domestic instability – that drive potential customers and investors away.
At present, Iran would seriously struggle to keep its head above water if the price of oil dropped substantially below $100 per barrel where it’s remained mostly constant, says the former advisor to the National Iranian Oil Company International (NIOCI). As to the question of whether the world can survive without Iranian oil, Vakhshouri suggests it likely will in the near future; it has already started adjusting accordingly with increased Saudi output and Iraqi production, Canadian and US domestic production, and other factors such as a global decrease in demand.
- Colombia – Trade Unionism Under Threat of Death
- Financialization Promotes Dangerous Speculation
- Myanmar/Bangladesh: Older people denied dignity in camps after facing military atrocities
- As Sudan Struggles, AU Should Press for Justice and Accountability
- Desertification ‘More Dangerous and More Insidious than Wars’
- The Importance of the Upcoming FAO Election
- UN’s Development Goals Remain Largely Elusive
- Celebrating 25 years and growing the future together
- Let’s Train Humans First … Before We Train Machines
- The Art of the Deal: What Trump May Teach Us