Iranian Economy In Tailspin

I have a long post up on the Iranian economy. They will cease to be a net exporter of oil within ten years.

One of the reasons is that they import 40% of their gasoline and price it way below market to buy internal peace. To bring their prices into line with world prices they will need to increase prices by about a factor of 5X.

Another reason is that they are not maintaining their oil fields. Part of the reason for that is a rejection of Western technology. The main reason is that they are eating their capital in order to do things like start wars and build nukes.

And the final nail in the coffin? Their economy is run on the socialist model, with the government controlling many prices.