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Iran 'facing disaster' over collapsing fuel exports |
| Home | (Telegraph) - Iran's oil exports are plummeting at 10pc a year on lack of investment and could be exhausted within a decade, depriving the world economy of its second-biggest source of crude supplies. A report by the US National Academy of Sciences said rickety infrastructure dating back to the era of the Shah had crippled output, while local fuel use was rising at 6pc a year. "Their domestic demand is growing at the highest rate of any country in the world," said Prof Roger Stern, an Iran expert at Johns Hopkins University, Baltimore. |