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| Syria-Lebanon-Iran |
| Nutjob: Oil prices lower than 'real' value |
| 2007-11-18 |
| Iran's president Mahmoud Ahmadinejad said on Saturday that crude prices, hovering close to 100 dollars a barrel, are still lower than the actual value, the state news agency IRNA reported. "The pressure on the fossil energy (oil) market is not artificial and the price of this commodity is lower than its actual price," Ahmadinejad said before leaving Tehran for an OPEC summit in Saudi Arabia. Ahmadinejad also said that pricing oil in US dollars was affecting the producing countries. Oil prices rose back above 95 dollars Friday amid predictions that OPEC will not discuss raising output at its weekend summit and fresh tensions over Iran, which is the cartel's second largest producer. Backed by fellow US adversary Venezuela, Iran has called for the summit's final declaration to express concerns about the falling US currency and its impact on oil revenues. But OPEC's Secretary General, Abdalla Salem el-Badri, said later that the dollar would not be mentioned in the final communique. |
| Posted by:gorb |
| #2 I want gas to go to $5 a gallon. I hate agreeing with Nutjob tho. |
| Posted by: Thomas Woof 2007-11-18 09:38 |
| #1 Not a peep out of Washington on this. Guess we'll just sit back and watch gas go to $5 a gal. But don't worry, a few thousand futures investors will make hundreds of millions of dollars. The rest of us will have to eat our pets to survive. |
| Posted by: bigjim-ky 2007-11-18 08:27 |