Iran and how it affects our lives.

[Bob]

No article here. Just wanted to point out that Iran is going to cut production of oil to the West if we keep pressuring them about the nuclear work they are doing. Of course we know this will raise gas prices. That movie where gas was $7/ a gallon isn't that far fetched now.
I might've asked this before but how would your lives change at $7/gal?
I know alot would change in my life. Not to mention the upcoming winter. Might be time to head somewhere warmer.

[sws4420]

What percentage of the oil do they even contribute? :huh:

[Bob]

As I know it now nothing. It could produce an extra million barrels a day if we get the chance to but those treehuggers are keeping us from doing so.

[sws4420]

I don't believe the supply is the only problem. Even if production was increased 100,000% the usable supply wouldn't really change because we haven't built any refineries since the 70s and they can only handle a certain amount of oil per day. It would only cause a crude oil storage backup.

They provide 9% of the world's oil, and the proceeds from their oil sales accounts for 50+% of their annual budget.


Oil is responsible for roughly 85 percent of Iran's export revenue, between 40-50 percent of the Iranian government's budget, and between 10-20 percent of Iran's gross domestic product. Current statistics put Iran's proven oil reserves at 90 billion barrels, or roughly 9 percent of the world's total. Most of Iran's oil wealth is concentrated in the southwestern province of Khuzestan, only miles away from Iran's border with Iraq.