Iranian Revolution

Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran", which in Persian means "Land of the... Aryans", has been in use natively since the Sassanian era. It came into use internationally in 1935, before which the country was known to the Western world as Persia . Both "Persia" and "Iran" are used interchangeably in cultural contexts; however, "Iran" is the name used officially in political contexts. The 18th-largest country in the world in terms of area at 1,648,195 km , Iran has a population of around 79 million. It is a country of particular geopolitical significance owing to its location in the Middle East and central Eurasia. Iran is bordered on the north by Armenia, Azerbaijan and Turkmenistan. As Iran is a littoral state of the Caspian Sea, which is an inland sea, Kazakhstan and Russia are also Iran's direct neighbors to the north.
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The 1979 oil crisis in the United States occurred in the wake of the Iranian Revolution. Amid massive protests, the Shah of Iran, Mohammad Reza... Pahlavi, fled his country in early 1979 and the Ayatollah Khomeini soon became the new leader of Iran. Protests severely disrupted the Iranian oil sector, with production being greatly curtailed and exports suspended. When oil exports were later resumed under the new regime, they were inconsistent and at a lower volume, which pushed prices up. Saudi Arabia and other OPEC nations, under the presidency of Dr. Mana Alotaiba increased production to offset the decline, and the overall loss in production was about 4 percent. However, a widespread panic resulted, added to by the decision of U.S. President Jimmy Carter to order the cessation of Iranian imports, driving the price far higher than would be expected under normal circumstances. In April of the same year, President Carter began a phased deregulation of oil prices. At the time, the average price of crude oil was $15.85 per barrel . Deregulating domestic oil price controls allowed U.S.
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