5.05.2010

Woth bearing in mind as we mull options on Iran

Via the incomparable World Politics Review, an object lesson in unintended consequences:
The Guard's engineering companies, replacing European oil firms that have largely abandoned Iran, have been rewarded with huge no-bid contracts. Experts warn that U.S. efforts to prevent international investment in Iran's oil industry are giving the Guard more clout. Iran is the second-largest oil producer in the Organization of the Petroleum Exporting Countries.

"The Revolutionary Guards are smiling at the idea of new sanctions against Iran," said a Western executive who represents one of the world's largest oil companies. "Sanctions against the industry or preventing foreign companies from selling gasoline to Iran will mean more money, power and influence for the Guards," he said.