Iran to prepare ‘shadow budget’ for emergencies ('extraordinary incident')

[Bhaisahab]

Iran to prepare ‘shadow budget’ for emergencies

TEHRAN, Feb 6: Iran said on Tuesday it was drafting a parallel budget for next year, which would come into force in the event of an `extraordinary incident’ affecting its heavily oil-dependent economy.

The so-called `shadow budget’ assumes an oil price of less than $30 a barrel, compared with 33.7 dollars in the actual budget proposed by President Mahmoud Ahmadinejad last month for the new year starting on March 21.

“We are preparing a shadow budget based on the oil price of under 30 dollars per barrel in case an extraordinary incident happens on the international arena,” the deputy head of state-run Management and Planning Organisation, Ali Askari, told reporters.

He did not specify what such an incident might involve.

CONTINUED AT: http://www.dawn.com/2007/02/07/int5.htm

[AndyTiedye]

1. About The Only Extraordinary Incident That Might Make Oil Prices Drop That Low

would be peace in the Middle East!

[ohio2007]

2. I think the price ( we see per bbl ) only needs to fall below $50

that is what his $30 bbl quote is comparable to. If "we" see price on the "open market" drop to $30 bbl,
Iran's conversion would be about $15 bbl. if that happened !
I'll see later today if I can find the article that explains the price difference