Tertzakian on Iran

EnergyBulletin.net article on 4.22.06

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Will Iran tighten the reins on the global petro supply?

[...]But Iran is not Iraq. Notably, Iran’s oil output is over twice that of Iraq, and as mentioned Iran is in a very strategic geographic location. As well, Iran’s bombastic leadership appears far more determined to pick a fight and play the trump cards it knows it has in its hand. Finally, Iran has a potentially oil-hungry friend in China; a relationship that makes Iran’s trump cards against the west stronger.

So, there is a major geopolitical storm brewing around oil. The winds are already up (as evidenced by rising prices) and addicted consumers of oil and petroleum products like gasoline are going to have to weather it. And if the Iranian situation isn’t threatening enough, there are storm clouds hanging over other major oil producers like Nigeria and Venezuela too. In an era where supply and demand for oil is tight, every oil producer feels it has trump cards. [...]

-Peter Tertzakian, April 2006, on EnergyBulletin.net