Iran Boosts Gasoline Production To Defy West

11.17.09 | FL News Team

Iran thumbed its nose at the West today by upping gasoline production 30-percent to prove it could survive sanctions. Iran is the world's fifth largest oil exporter but a lack of refineries means it must import 40-percent of its gasoline. The move to boost gas output by about three-point-seven million gallons is a temporary one designed to last a few days only. It raised total production to nearly 15-and-a-half-million gallons a day, about two million gallons shy of Iran's daily gas consumption.

Even so, Iranian Oil Minister Massoud Mirkazemi said the extra gas will give the Islamic Republic some mileage with its critics. He told reporters, quote, "We would like to show that the West cannot use any limitations on selling gasoline to Iran as a tool against the Islamic Republic." The West has eyed using the gasoline market as a way to address Iran's nuclear ambitions.