…from Press TV, Tehran
[ Editor’s Note: Iran’s credit rating just went up. I assume that it has been holding back on this oil field news. And you can bet the Chinese were already aware of it before they signed onto the $400+ billion pledge into Iran infrastructure projects, much of that in energy.
As a key station on the New Silk Road, Iran’s having huge amounts of oil and gas are additional bonuses for anyone thinking of attempting a duplicate development game of this size.
As rail lines are laid down, it will be a no brainer to make sure that pipelines will be able to follow the same route, as total efficiency in everything will be one of the main engineering goals.
The West will only have itself to blame. The low interest on US debt, with the Chinese having held so much but earning so little, made it obvious that a much higher return could be made long term by investing in these mega infrastructure projects, which could supply jobs for Chinese workers and others in the region for decades.
This is something that neither the US nor EU seem able to do. Name one $50-billion development project they have ongoing or even in the planning stages. The US is burying itself in debt to keep the doors open and lights on, while using world turmoil and regime change to help maintain that position.
It is not a long term winning strategy. In the end, all the US will have to play is the “war card”, similar to what Roosevelt did to get into WWII when all of his Great Depression stimulation hardly produced a single permanent job… Jim W. Dean ]
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– First published … November 10, 2019 –
President Hassan Rouhani says Iran has discovered a new oil field containing 53 billion barrels of crude in southwestern Khuzestan Province.
Rouhani told a large crowd of people in the central city of Yazd on Sunday that the discovery was made despite US hostilities which have mainly targeted Iran’s oil sector.
“It is a large oil field that extends from Bostan to the vicinity of Omidiyeh spanning an area of 2,400 square kilometers with a depth of 80 meters,” he said.
“Today we are announcing to the US that we are a rich country and despite your enmity and tyrannical sanctions, the Iranian oil industry’s workers and engineers have succeeded to discover this vast oil field,” Rouhani added.
The US has unleashed the “toughest ever” sanctions against Tehran since unilaterally withdrawing from the 2015 nuclear deal, officially called the Joint Comprehensive Plan of Action (JCPOA).
Rouhani said, “The first thing I would like to emphasize here is that we have withstood the pressure exerted by foreigners over the past year, during which our people had to go through difficult times.”
It’s been one year-and-a-half since President Donald Trump pulled the United States out of the nuclear deal with Iran and embarked on a policy of “maximum pressure.”
Trump has been piling sanctions and heating up the rhetoric against Tehran, saying he aims to negotiate a better agreement with Iran and his policy will bring the Iranians to the table for that new deal.
However, the maximum pressure policy has not succeeded in bringing Iran to the negotiating table or curbing its regional activities across the Middle East as sought by Washington.
“In fact maximum pressure seems to have backfired and pushed Iran across the edge,” British daily The Independent wrote on Saturday.
According to the paper, “economically, Iran has been able to draw on some of its financial reserves to cushion off the impact of American sanctions.“
Politically, Iran has been able to utilize the theme of nationalism and historic grievances about big power bullying and fend off any unrest, it said. On Sunday, President Rouhani called on Iranians not to let “America’s wishes rise from the larynx of a few people, even though they are very limited in number.”
He said the Iranian people’s “resilience and unity and their ceaseless efforts have brought us to the point where the United States, in my opinion, has become disappointed.”
From an international perspective, The Independent says, the world is more sympathetic to Iran’s position in the nuclear dispute than the United States, because Iran stayed strictly committed to the nuclear deal for one year, after the US left the deal and violated its terms.
“There is also not much admiration for Mr Trump on the international stage – except among right wing authoritarian and neo-fascist groups – and that also helps Iran,” it added.
The Trump administration’s policy on Iran, the paper said, has isolated the United States and diminished its leverage to enforce the JCPOA, if not open the door to its complete destruction.
“At the moment, President Trump and his administration are running out of options on Iran. There is not much left to sanction in Iran, and short of military conflict, there is not a lot more pressure that can be applied,” it added.
Meanwhile, statistics show Iran’s economic situation is improving and inflation has been contained, President Rouhani said.
Iran is a founding member of the Organization of the Petroleum Exporting Countries and sits on what were already the world’s fourth-biggest oil reserves and second-largest gas reserves.
The new find would add around 34 percent to Iran’s current proven reserves, estimated by the Oil & Gas Journal at 158 billion barrels of crude oil and representing almost 10 percent of the world’s crude reserves.
Jim W. Dean is VT Editor Emeritus. He was an active editor on VT from 2010-2022. He was involved in operations, development, and writing, plus an active schedule of TV and radio interviews. He now writes and posts periodically for VT.
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I’m waiting for a candidate to come forward with a plan ti reduce military spending by about 75%. Qhile we threaten and bomb nations that have never assaulted us, China is the planet’s pac-man. Taking advantage of an area of commerce and good will that has been neglected for centuries. Infrastructure.
The oil thing is good news. Im not surprised and these fields often fill up again.
For those in belief of the peak oil fraud.
Check this site gasresources.net the Russian chemists (some of the best) KNOW and proved oil is NOT of fossil origin. The mantle produces it continuously. It is a valuable resource. The eco loontards (who believe in the climate scam) want o get rid of oil as a resource..quite mad.
There is allot more to be found, some places are better than others.
As for fighting over it..thats another matter.
May I ask where you get your weed? Wow good stuff I bet?
@nine, start with thomas gold’s book, The Deep Hot Biosphere: The Myth Of Fossil Fuels and go from there.
”
Karl November 10, 2019 at 12:17 pm
Invasion imminent now”
I don’t think so, for two reasons. 1) Iran is surrounded by US bases, which all have families in them. They would be dead in an hour or less from the start of a shooting war. They are not evacuating. Hence the US is not going to attack in the near future. Iran is not going to fire the first shot. Hence, there will be no invasion in the near future. (The time to watch out for is if the US does evacuate the families and the ships.) 2) The MIC is bathing in a torrent of money coming to it from the USG with no end in sight. A shooting war would cause all sorts of disruption. Why spoil a good thing?
I get it. I say that tongue in cheek. Hopefully no more wars in the ME
Iran discovers vast oil fields . . .
Yeah.
It’s called Iraq.
OH COME ON! It’s a joke.
Although the gasoline engine and the steam engine as applied to the automobile were both in early stages of development then, Henry Ford chose the gasoline engine mainly due to weight considerations. Today the gasoline engine, based on oil, has had about a century or more of development as applied to the automobile. This development makes it a hard slog to move away from oil as the basis of most surface transportation. The beauty of steam power is almost anything that can burn can be used to produce steam. But lacking a century of development of the steam engine as applied to the automobile basically makes it very difficult to move away from oil as the centerpiece of the automobile transportation system. Of course this is good news for the recent discovery in Iran.
Invasion imminent now
No chance…the US would have to mobilize reservists and conscript people and it would take many months to preposition resources – all visible to Russian and Chinese satellites. The terrain of Iran is very formidable and the Iranians according to their military doctrine would fight an asymmetrical guerrilla war designed to cost the attacker the maximum in men, resources and economics.
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