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Seems like the Oil pinch is felt in Iran as well

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ewoden Donating Member (634 posts) Send PM | Profile | Ignore Fri Feb-02-07 01:45 PM
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Seems like the Oil pinch is felt in Iran as well
Iran: Legislators Warn That Country Has Exhausted Petrodollars . . .
Iranian parliamentarians voted recently to allow the government to spend hundreds of millions of dollars from Iran's foreign-exchange reserves -- which hold Iran's surplus cash from sales of petroleum. Critics claim the move essentially bankrupt a fund designed to serve as a savings and emergency account.

http://www.rferl.org/featuresarticle/2007/02/12A0FFC6-05C1-4265-A73F-A512FB376C12.html
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bigtree Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-02-07 02:18 PM
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1. Iran has relied heavily on gasoline imports for many years
Despite being the second biggest producer in the Organization of the Petroleum Exporting Countries, Iran has relied heavily on gasoline imports for many years.

It lacks refining capacity after directing most of its oil revenues into social spending. It now imports more than 40 percent of its 70 million litters per day (440,000 barrels per day) of gasoline consumption.

Most of this comes from western Europe, with trading house Vitol the leading supplier, market sources said. India has also featured as a key exporter, at times supplying up to 25,000 bpd.

http://www.boston.com/news/world/middleeast/articles/2006/06/23/iran_to_halt_gasoline_imports_impose_rationing/
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