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.
- No Medals for Sanitation at Rio Olympics
- African Leaders Driving Push for Industrialisation: UN Official
- List of Acts President Must Do for Disaster Risk Reduction and Management
- The Challenge Before Us
- Terrorist Madness
- The Psychology of Ideology and Religion
- Falling Short-Police Apathy to Rape in India
- Climate Victims – Every Second, One Person Is Displaced by Disaster
- Narrow National Interests Threaten Historic Refugee Agreement
- Climate Migrants Lead Mass Migration to India’s Cities