IRAN: There will be oil, and lots of it

Beirut-Iran is reporting huge new discoveries of oil that contain "billions" of barrels of reserves, state radio quoted the managing director of the country's National Oil Co. as saying today. Seyfollah Jashnsaz said Iran has discovered seven new oil fields in unspecified locations around the country...

[Again, 'peak oil' is a myth: the historical fact is that we've consistently found more reserves in increasing excess to our growing demand. I.e., the amount of 'untapped' oil above our usage has done nothing but grown throughout history - the only thing limiting recovery is our suicidal politics.]

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