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Sources of Iran Funding with a Key Focus on Energy

Iran is the second nation in the world to have the biggest oil reserves and the third biggest exporter. There is so much fuel in Iran that produces energy. Starting in 1913, Iran has led in exporting oil to the different parts of the world. Due to the presence of cheap energy in Iran, there is so much wastefulness and many smuggling businesses. The demand for this product has gone high owed to the rapid increase in car production in recent years.

Iran is the third global nation in the production of natural gas, primarily used domestically for electricity generation and heat production as well. The production of gas in this country is bound to increase in the next years because of the continuing discoveries of new regions. The country’s government has subsidized the prices of natural gas as well as gasoline prices, and this is meant to sustain the high consumption in the domestic field. 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. Consequently, the Iranian government should focus all its efforts on meeting this growing demand. Iran has accomplished to gain the technical expertise required to set up gas, hydroelectric and combined cycle power plants. Iran is not only focused on amassing all the power within its state but has also crossed borders and taken up varied projects in the bordering countries.

There are varied and wide efforts to explore the sources of power in Iran. The electricity field is subsidized and the control of its generation, distribution and transmission is in the hands of corporations owned by the state. So that they can meet the demands of this electricity sector, Iran is starting to look into the private investments. there are so many people who have an issue with the procedures involved in producing electricity since they deem them harmful to the environment; these processes are much improved as compared to the past years. Electricity demand has grown because of the current trends and intensified industrialization. Because of the demand for energy in the globe, Iran has also taken up the generation of nuclear power. This country is also making concerted efforts to make renewable energy viable commercially with the help of the Ministry of Energy. Hydropower plays a crucial role in sorting the energy needs in Iran and generating income since the country can construct its water turbines locally. Solar, geothermal, biofuel and wind energy are other forms of energy used in Iran.

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