Iran, with vast oil and gas reserves, now has an electricity crisis

The nuclear power plant at Bushehr, that has already experienced one earthquake.

The Financial Times notes:

Plunging oil prices have already undermined Iran’s fledgling economic recovery. But another energy issue is also holding back President Hassan Rouhani’s attempts to revive the country’s underperforming industrial base: a lack of power-generating capacity…

Decades of heavy government subsidies have left Iran with high levels of energy consumption…

While Iran’s energy demands are growing at about 6 per cent a year, growth in capacity is limited to a third of that. The energy ministry admits its depleted power network requires at least 120tn rials ($4.4bn) of investment.

This is a severe challenge for a country also grappling with the impact of crippling international sanctions related to its nuclear power programme and the legacies of populist policies implemented by its previous government… The IMF said in October that Iran needed oil prices above $120 a barrel to balance its books. Brent crude, the international benchmark, was on Monday trading at $58 a barrel.

Well, how about that? I suppose the peace-loving Ayatollah Khamenei never considered that building power plants to burn natural gas might have been a better idea than pursuing highly expensive nuclear power. Unless, of course, they thinking of nuclear weapons all along: then it would make sense.

As you can see from this map, almost the entire country is at high-risk for earthquakes.