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.
- OPINION: The Front Line of Climate Change is Here and Now
- India’s Crusader Against Impunity
- OPINION: Renewable Energies – a Double-Edged Sword
- OPINION: Water Shutoffs and Unintended Consequences – Lessons from Detroit
- Kazakhstan’s Nazarbayev Signals U-Turn on Alternative Energy
- Asia: So Close and Yet So Far From Polio Eradication
- Global South Brings United Front to Green Climate Fund
- OPINION: The Group of 77 & IPS at 50
- Kashmir Flood Carries Away Humble Dreams
- Central Asia Hurting as Russia’s Ruble Sinks