That's exactly true, the Shah was busy planning nuclear power plants (before he was overthrown in 1979) so that he could export more oil - a plan that the US heartily endorsed (and not just because the US was selling them the nuclear power plants).
The Shah approved plans to construct, with U.S. help, up to 23 nuclear power stations by 2000. In March 1974, the Shah envisioned a time when the world's oil supply would run out, and declared, "Petroleum is a noble material, much too valuable to burn ... We envision producing, as soon as possible, 23,000 megawatts of electricity using nuclear plants."
"President Gerald Ford signed a directive in 1976 offering Tehran the chance to buy and operate a U.S.-built reprocessing facility for extracting plutonium from nuclear reactor fuel. The deal was for a complete 'nuclear fuel cycle'. "The Ford strategy paper said the "introduction of nuclear power will both provide for the growing needs of Iran's economy and free remaining oil reserves for export or conversion to petrochemicals."
Somehow, the American MSM seemed to forget that argument when the new post-Shah Iranian government started building nuclear power plants with the Russians, and then argued that Iran had no need for nuclear power (electricity) since they were sitting on 'an ocean of oil' that they could burn to make electricity.
Shameless propaganda - changing the argument to fit the desired conclusion.