| Iran President Calls for Higher Oil Prices |
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| by Tom McGregor | Sat, Apr 19, 2008, 04:19 PM |
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According to Fox News, “oil prices have hit all-time highs above $115 a barrel in recent weeks, amid reports that oil and gas stocks in the United States were lower than expected and the dollar sinks to record lows.” The Iranian president made the remarks in Tehran during a visit to an oil and gas exhibition last Friday. Following an attack on a key pipeline in Nigeria, crude oil futures surged to a new trading record of $117 a barrel on Friday. Ahmadinejad claims the economic value of crude oil is currently less than it was in 1980. He accused Western industrialized nations of so-called “selfishness” in their quest for cheaper oil. In its oil transactions with the rest of the world, Iran has stopped using the U.S. dollar. To read the entire article from Fox News, link here: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
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President Mahmoud Ahmadinejad of Iran believes that crude oil prices at $115 a barrel are too low; and says oil must “discover its real value.”
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