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Iran Discovers New Oil
By Micah Halpern

Monday November 11, 2019

I've Been Thinking:

Iranís president announced that the Iranians have discovered a huge new oil reserve.

President Rouhani said that they discovered a source containing 53 billion barrels of oil about 100 yards below the ground.

If true, this treasure trove would be only slightly smaller than the largest Iranian oil system which contains 63 billion barrels.

If true, this would move Iran into the # 3 slot in the list of countries with the greatest oil reserves.

If true, this discovery is so large that it would increase total OPEC reserves by 34%.

Add that to the announcement Iran made last month about a new discovery of natural gas. Something very big is happening in Iran.

The announcements are made publicly in an effort to reposition Iran in the eyes of supporters. The message Iran is sending out is that they are not down in the dumps Ė rather they are major players in the sphere of oil and natural gas.

The most important, albeit unspoken, point in these messages is that the United States is preventing Iran from tapping these resources. The United States will not permit Iran to extract and sell their badly needed natural resources.

The resources are badly needed by the world, the revenue is badly needed by Iran. These announcements help resuscitate Iranís image.

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12 November 2019 07:22 AM in Thoughts

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