Just please don't run out and buy a Hummer.
Any increase in Iranian oil sales could come at the expense of Saudi Arabia, OPEC's biggest producer, which has lifted its
Russia is facing extreme pressure from the price collapse as well as international sanctions. The ruble has already fallen
Much to the West's chagrin, Iran continues to find a market for its crude, and while sanctions on the oil and banking sectors may have a temporarily crippling effect, Iran's bounty of natural gas may mean its people laugh all the way to the bank. The country's gas reserves are second only to Russia.
Iranian Oil Minister Bijan Zanganeh said oil production from the Islamic republic could increase even with harsh economic sanctions in place. In late December, Tehran said it would pump as much oil as it could if sanctions are lifted. Now, it seems, OPEC is taking notice.
"The Islamic Republic of Iran has some red lines that the Americans should understand and respect. If this is repeated, we
Crippling sanctions have paralyzed the Iranian economy, but have yet to achieve their stated aim, to force the regime to abandon its nuclear program. What they have done is to led to mass unemployment and the impoverishment of the average Iranian family.
From the Atlantic to the Pacific, Argentina to the Philippines, here are the six areas of conflict -- all tied to energy supplies -- that have made news in just the first few months of 2012.
Despite their frequent protestations about violators of sanctions on Iran -- including strong words this week toward India