Iran's Oil Restrictions a Warning for Australia

Dr Bezdek says we are indirectly dependent on Iran's oil because of the way the world oil market operates.

Published: 29-Jun-2007

Iran has the world's second-biggest proven reserves of oil, so its people are now furious that the Government has suddenly brought in petrol rationing.

There have been demonstrations, and at least one petrol station was set on fire.

Iran is limited in refinery capacity, and the decision to ration is seen as the Government's way of trying to cut consumption, ahead of any UN sanctions on the country over its nuclear program.

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