Watching Government: The Iranian oil question

From the outset, the discussion's question seemed provocative: Can the world live without Iranian oil? Panelists at the Dec. 5 event at the Atlantic Council agreed that global prices haven't shot up because the country's production has fallen so far in recent years. But the full answer—not too surprisingly—was much more elusive. Economic sanctions have substantially hurt Iran's oil operations, noted Sara Vakhshouri, president of SVB Energy International, an information technology company, who grew up in Iran. The country's entire energy sector lacks investments and technology, she maintained. "Without this, it will be hard for Iran to recover the production it has lost," she sai...

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