original: January 16, 2016 by Ivana Kottasova
Because the U.S. and European sanctions were lifted on Tehran on Saturday Iran now has full access to world markets. This could mean that Iran could soon return to the top ranks of global oil producers. Since oil prices have dropped below $30 a barrel and a new flood of oil from Iran will likely push them even lower- the U.S. is expecting a huge plummet in their oil loans.
The fact is that the majority of the world's oil is coming from the middle east. Considering our resent not so friendly happenings with them this could prove to be very dangerous for the U,S, We have had an oil crisis before, and not so long ago actually. Prices skyrocketed to almost $5 a gallon. Considering how low the prices are now I'd say that we are in a pretty good place but that's just until our oil loans fall through and then what?
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