Proposing New Policies Facing Changes in Strategic Importance of Oil Resources

The article argues the strategic importance of oil resources has faded in each internal or global scope and as result oil is not as important commodity as it was before. The increment in resistance of both national and world economy to the volatility of Iran’s oil supply indicates it is not such important either to Iran or to the world anymore. Another change is the upward risk of unprecedented plunge in oil demand, a risk which is always sensed in recent years. The worry about supply security has been declined while of demand security raised.
The concept of peak oil is reviewed in this vein and a theory to a paradigm shift is proposed; a shift from the idea of supply peak to demand peak. As consequences of the changes the oil leverage as a tool in pursuing political will has been handed over from suppliers to the consumers. Moreover, economic security and future oil market have been challenged in long term. Yet, on the other hand, nations with cheap oil resources are gifted by an extra competitive advantage. The article gives policy recommendations to Iran over the new status.