It seems Iran, the worlds fourth largest exporter of oil and holder of 10% of the current world proven reserves, may run dry in ten to fifteen years.

What this means for America could be just about anything. We could see Iran destabilize into a refuge for terrorists and chaos. We could see Iran trying to develop nuclear weapons to make money much like North Korea. Or we could see a great humanitarian crisis brought on by the sudden and drastic decrease in oil revenue. None of which are good for anyone. This is what happens when you are a one crop farmer and the farm has a bad year.

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from here

Iran is suffering a staggering decline in revenue from its oil exports, and income could virtually disappear by 2015 if the trend continues, according to an analysis published Monday in a journal of the National Academy of Sciences.

Iran’s economic problems could make the country unstable, with its oil industry crippled, Roger Stern, an economic geographer at Johns Hopkins University, said in the report and in an interview.

Iran earns about $50 billion a year in oil exports. The decline is estimated at 10 to 12 percent annually. In less than five years exports could be halved and then disappear by 2015, Stern said.

Obviously this raises several questions. If Iran one of the worlds top oil producers goes under, what does that do to the price of oil? What does that do to America’s economy? And perhaps the biggest question is why can’t we wake up and smell the coming oil shortage. Time to rise and shine America, the era of cheap oil is over. Time to start turning to something else. Might I suggest renewable energy.