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Iranian oilfields are, the others being in the north and centre. Together they are thought to comprise the world's third-largest reserves. Despite this Iran remains relatively poor due to mismanagement, corruption, mountainous topography that hinders transport connections and economic sanctions which have, in part, prevented certain sections of industry from modernising.

Iran holds what might be a trump card - the ability to close the Strait of Hormuz in the Gulf through which passes each day, depending on sales, about 20 per cent of the world's oil needs. At its narrowest point the Strait, which is regarded as the most strategic in the world, is only 21 miles across. The industrialised world fears the effect of Hormuz being closed possibly for months on end, with ensuing spiralling prices. This is one reason why so many countries pressure Israel not to act.

This lack of a warm-water port with direct access to the oceans has always been Russia's Achilles heel, as strategically important to it as the North European Plain. Russia is at a geographical disadvantage, saved from being a much weaker power only because of its oil and gas.

Looking at Saudi Arabia, which should progressively revert to the pre-oil level of poverty, I wonder if taking away some things from them--including the swarm of fawning foreigners coming to skin them--will make them better off.