Iran hit hardest as oil price war, cornavirus cripples nation
Monday, March 9, 2020 | Tag Cloud Tags: coronavirus, Iran, Iraq, Islam, Middle East, News, oil, virus, War, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs! | Printer Friendly
(Worthy News) – The one-two punch of coronavirus and an escalating oil price war that is roiling world markets is hurting one country more than any other: Iran.
Already dealing with a deadly outbreak, the Islamic Republic, heavily dependent on oil revenues, is in no position to deal with the lowest per-barrel prices seen in decades.
“$20 oil in 2020 is coming,” tweeted Ali Khedery, a former U.S. official in Iran and onetime Middle East expert with Exxon. “Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc. – may prove existential 1-2 punch when paired with COVID19.” [ Source: Fox News (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.