It's a Stick Up and We Are the Victims.

[FOTD]

supply & demand?...it's predator capitalism at it's worse...


Market Full Of Oil, Price Trend "Fake": Ahmadinejad

http://www.nytimes.com/reuters/news/news-iran-oil-ahmadinejad.html?_r=3&oref=slogin&oref=slogin&oref=slogin

"ISFAHAN, Iran (Reuters) - The market is full of oil and the rising price trend is "fake and imposed," Iran's president said on Tuesday, partly blaming a weak U.S. dollar which he said was being pushed lower on purpose.

"At a time when the growth of consumption is lower than the growth of production and the market is full of oil, prices are rising and this trend is completely fake and imposed," President Mahmoud Ahmadinejad said in a televised speech.

"It is very clear that visible and invisible hands are controlling prices in a fake way with political and economic aims," he said when opening a meeting of the OPEC Fund for International Development in the central Iranian city of Isfahan.

Iran, the world's fourth-largest oil exporter, has repeatedly said the market is well-supplied with crude and blames rising prices on speculation, a weak U.S. currency and geopolitical factors.

"As you know the decrease in the dollar's value and the increase in energy prices are two sides of the same coin which are being introduced as factors behind the recent instability," Ahmadinejad said.

Oil steadied on Tuesday after touching a record near $140 the previous day, with traders caught between a weaker dollar and expectations that top exporter Saudi Arabia will ramp up output to its highest rate in decades.

Iran has often said it sees no need for the Organization of the Petroleum Exporting Countries (OPEC) to boost output.

"EVER-INCREASING DECREASE"

Ahmadinejad reiterated his view that oil should be sold in a basket of currencies rather than U.S. dollars, an idea which has failed to win over other OPEC members, except Venezuela.

"The ever-increasing decrease in the dollar's value is one of the world's major problems," he said.

"A combination of the world's valid currencies should become a basis for oil transactions or (OPEC) member countries should determine a new currency for oil transactions," he said.

Iran, embroiled in a standoff with the West over its nuclear program, has for more than two years been increasing its sales of oil for currencies other than the dollar, saying the weak U.S. currency is eroding its purchasing power.

Ahmadinejad, who in the past has called the dollar a "worthless piece of paper," suggested "some big powers" were driving it lower on purpose:

"The planners for some big powers are acting to decrease the dollar's value," he said. "For years they imposed inflation and their own economic problems to other nations by injecting the dollar without any support to the global economy."

Foes since Iran's 1979 Islamic revolution, Tehran and Washington are also at odds over Tehran's disputed nuclear activities as well as over policy in Iraq. Iran says its atomic work is peaceful.

(Additional reporting by Zahra Hosseinian in Tehran; Writing by Fredrik Dahl; Editing by William Hardy)


Greed should not be given the opportunity to TRUMP National Security.

[rwarn17588]

Iran's president is two beers short of a six-pack. He has no credibility.

Next.

[FOTD]

Yes. But the Persians who run Iran's think tank are brilliant.

Think peace. War is not an answer on this one....although, http://thinkprogress.org/2008/06/22/bolton-arabs-delighted/

[we vs us]

quote:Originally posted by FOTD

Yes. But the Persians who run Iran's think tank are brilliant.

Think peace. War is not an answer on this one....although, http://thinkprogress.org/2008/06/22/bolton-arabs-delighted/

I'm all for not starting another moronic war, but Ahmedinajahd just isn't a believable source for anything.

[Conan71]

quote:Originally posted by we vs us

quote:Originally posted by FOTD

Yes. But the Persians who run Iran's think tank are brilliant.

Think peace. War is not an answer on this one....although, http://thinkprogress.org/2008/06/22/bolton-arabs-delighted/

I'm all for not starting another moronic war, but Ahmedinajahd just isn't a believable source for anything.

And neither was his neighbor Hussein.  We've seen now the reality of what happens when we go after asshat liars.  I really, really don't think the current admin would start yet another war in the region.

[FOTD]

Now we can state more truths from Bush's enemies than we can state from Bush.

[rwarn17588]

quote:Originally posted by Conan71

I really, really don't think the current admin would start yet another war in the region.

God, I sure hope it wouldn't.

But considering the Bush Admin's track record for monumental screw-ups, it's probably not wise to think they'll be smart enough to do the prudent thing.

[we vs us]

quote:Originally posted by rwarn17588

quote:Originally posted by Conan71

I really, really don't think the current admin would start yet another war in the region.

God, I sure hope it wouldn't.

But considering the Bush Admin's track record for monumental screw-ups, it's probably not wise to think they'll be smart enough to do the prudent thing.

I was gonna say, any optimism in this case is based on the Administration's ability to learn from its mistakes.  I haven't seen much of anything to indicate that they're into that kinda thing.

[patric]

It sounds like he's just repeating OPEC's criticisms -- that our own administration is manipulating supply and prices.

Given the timing of the GOP assertion that everything will be better once we start drilling in protected areas again...

The Iranian president is a boob, but that's not a reason to dismiss everything thats said out of that region.