Is it all about Iran’s energy?

As the rumors of a strike on Iran continue, with US saber rattling an almost weekly occurrence — lately over Hizbullah agents in Iraq, and al-Qaeda allegedly using Iran as a staging ground — a question begs to be asked, is this as much about energy as Tehran’s nuclear ambitions? Iran is sitting on huge oil and gas reserves that have not been utilized to their full potential. The country’s gas reserves are of major importance to the development of the global economy, particularly liquefied natural gas (LNG), with global consumption surging by over 30% in the five years to 2005. Qatar’s North field and Iran’s South Pars field is the largest known gas field in the world, with estimated gas reserves of 1,300 trillion cubic feet (TCF) or 221 billion barrels of oil and gas equivalent (boe). Major energy companies are champing at the bit to access this veritable