Iran: Refinery Expansions and Tough Choices

Iran's national oil company announced plans Nov. 2 to build eight new oil refineries with the ultimate goal of becoming a net exporter of refined oil products. Bringing foreign investors in on the project will prove essential to provide the necessary know-how, but given the current state of international condemnation bearing down on them, the Iranians may have to choose between international brinksmanship and energy independence.