It’s been a tough month for Iranian President Mahmoud Ahmadinejad. The latest bad news: Iran’s oil export revenues are plummeting.
CNN reports that oil revenue has been declining at up to 12 percent a year, mostly because of Iran’s neglect of its oil infrastructure and perceived hostility to foreign investment. If the trend continues, oil revenue could disappear by 2015.
In a report written for the National Academy of Sciences, author Roger Stern said that if the United States can “hold its breath” for a few years, it may find a cash-strapped Iran quite a bit less belligerent than it is now — an excellent reason, he says, to put off any plans to take on Iran militarily.
Posted by Dave Knadler
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