There’s something wickedly ironic about the second largest OPEC oil exporter having to ration gasoline in their own country. Maybe they should invest in ethanol production, increase fuel economy standards, and invest in fuel cell technology R&D? Actually, now that I think about it, perhaps it’s karmic payback for the gas rationing that took place here in the U.S. in the early 1970’s thanks to OPEC.

“Iranians angered by abruptly enforced fuel rationing torched or damaged more than a dozen gas stations in the country’s capital Wednesday, while others grumbled and lined up to fill their tanks.”

UPDATE: Here’s a fascinating article that provides much more detail on the current situation and what a bind Iran really is in.

More on this topic (What's this?)
IEA And OPEC Square Off
OPEC's Oil Reserves
WSJ’s Parallel Universe: OPEC Edition
Cheaters Never Win: Understanding OPEC
Read more on Forinter /R, Gasoline, Oil at Wikinvest