The Iranian oil situation has switched from a grave world production or economic problem to a political issue. When Iran nationalized her oil last year and kicked out the British there were fears of a world oil shortage.

But now new production, especially in Iran’s neighboring areas, has taken up most of the slack.

Thus, as Iran’s Premier Mossadegh once again turns down the West’s efforts to compromise the explosive issue through World Bank operations, the Iran premier’s country is doing the economic suffering and not the West.

The West is now demonstrating it can do without Iran better than Iran can do without its markets.

But, of course, the big question is how long Mossadegh can last as premier with revenue from Iran’s oil fields cut off and whether Iran is headed for complete political chaos and a possible Communist coup.

If Iran is to be saved from an economic collapse, and the attendant Red threat, some new proposal must come from the U.S. soon. All signs point to an early crisis in Iran.