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The week's question
In March 2025, in the thread "Re: OT, out", Umm asked the members: "Do you think it is because America is made up of magical soil that makes businesses based in America magically profitable?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Macroeconomic Trends & Risks
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Author: Steve203 ⎊❂🐝 HONORARY
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Number: of 4582 
Subject: Re: Attack on Iran
Date: 03/01/26 1:45 AM
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Closest analog that comes to mind is Libya, where the EU bombing campaign allowed all the local poisons to break out, pitching the country into chaos, and sharply curtailing oil production for several years.

Found a table of Iranian oil production, by year, going back to the late 70s.

Data for the years around the revolution, in million barrels per day:

December 31, 1985 2.205M
December 31, 1984 2.043M
December 31, 1983 2.454M
December 31, 1982 2.397M
December 31, 1981 1.321M
December 31, 1980 1.479M
December 31, 1979 3.218M
December 31, 1978 5.302M
December 31, 1977 5.714M
December 31, 1976 5.918M
December 31, 1975 5.387M


ycharts.com - Iran oil production

We old phartz remember the price of gas at the pump doubling. According to the net sifter, Iranian production had dropped to 2.5Mbpd, in early 80, just from internal chaos. The Iran-Iraq war started in September 80 (there is a hilarious story about an Iraqi chemical plant in Basrah and a field salesman at the pump seal company)

Steve
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