Photo: An Iraqi worker at the Dora oil refinery on the outskirts of Baghdad, March 27, 2011. Al-Rubaye / AFP / Getty ImagesIran vs. Iraq: Why Tehran Is Nervous About Iraqi Oil -- Roshanak Taghavi, Time
Iran may have had a political boost from the Arab Spring in North Africa and the Middle East — with some new regimes apparently more sympathetic toward Tehran while others brace themselves against the Iranian regime's influence among opposition movements in the region. But there is no attendant economic windfall to all the change. Indeed, the Islamic Republic, the second largest oil producer in OPEC, has come to be very concerned about petroleum.
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My Comment: Oil producing regimes like Iran, Russia, Venezuela, and now Iraq are completely dependent on oil revenues to sustain their budgets and spending priorities. Any disruption in these revenues has always resulted in instability and unrest in these countries .... a prospect that a revitalized oil industry in Iraq will quickly produce.
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