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Energy as a Source of Iran’s Funding

Iran is among the leading producers and biggest exporters of oil in the world. There are varied kinds of fuels in Iran that produce energy for local consumption and exportation. As from 1913, Iran has been the primary country for oil exports. Cheap energy has led to wasteful consumption in Iran and brisk petrol smuggling business in the neighboring countries. Because of the increased production of vehicles; the demand for petrol has gone up significantly.

Iran is also the third producer of natural gas in the globe; which is majorly used for heat production and domestic electricity generation. This country continues to increase its production levels because there are new regions that are being discovered on a day to day basis. The government of Iran has subsidized the prices of natural gas as well as the prices of gasoline in a bid to sustain the growing domestic consumption levels. Due to this increased demand both domestically and international of natural gas, production must also increase.

Producing and consuming electricity locally in Iran has significantly increased ever since 1984 and mostly depends on the traditional sources of thermal energy, with very little energy coming from hydroelectric plants. Therefore, it is paramount that Iran strives to meet the growing demand for energy in the globe. Iran has accomplished to gain the technical expertise required to set up gas, hydroelectric and combined cycle power plants. This country is not just self-sufficient in constructing power plants in the nation but has also taken up other similar contracts in neighboring states.

The exploration efforts of new power resources in Iran are both extensive and diverse. The electricity industry is heavily subsidized, and in most cases, the state-owned firms control the generation, transmission and distribution of power. To ensure that the growing needs of the consumers are met, Iran is partnering with other privately owned enterprises. Even though some people criticize Iran’s hydroelectric power procedures as potentially harmful to the environment, most agree that the current state of the country’s hydroelectric production is better than in the past years. Some of the elements that have led to the increased demand for electricity include the heightened industrialization as well as the demographic trends. Because of the demand for energy in the globe, Iran has also taken up the generation of nuclear power. The Ministry of Energy in Iran is also focused on producing renewable energy a commercially viable energy option. Most of the water turbines used to generate hydropower are made locally in Iran which therefore generates income and meets the clients’ energy needs. Solar, geothermal, biofuel and wind energy are other forms of energy used in Iran.

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