Iran has imposed, with only two hours' notice, fairly stringent gasoline rationing, according to the BBC:At least one petrol station has been set on fire in the Iranian capital, Tehran, after the government announced fuel rationing for private motorists. Iranians were given only two hours' notice of the move that limits private drivers to 100 litres of fuel a month. Despite its huge energy reserves Iran lacks refining capacity, forcing it to import about 40% of its petrol. Tehran is trying to rein in fuel consumption over fears of possible UN sanctions over its nuclear programme. Is the move a matter of money? Subsidies for the extremely cheap gasoline in Iran cost the government a huge amount of money. But the move will not anger people, it risks sparking inflation.Or could the move be related to mobilization for a war effort?Hat tip: Ed LaskyUpdate:  Marc Wolfensberger of Bloomberg adds important information. Iran is spending $5 billion a year to import gasoline.Taxi drivers...(Read Full Post)