Iranian leader (Ahmadinejad) says oil hasn't reached true value

[phantom power]

TEHRAN, Iran - President Mahmoud Ahmadinejad said Wednesday that the crude oil prices now at record levels still were below their “real value,” state-run Tehran radio reported.

In his first remarks on the current price of oil, the hard-line Iranian leader also said developed countries were benefiting most from the high prices.

“The global oil price has not reached its real value yet. The products derived from crude oil are sold at prices dozens of times higher than those charged by oil-producing countries,” the radio quoted Ahmadinejad as saying.

He did not say what oil prices should be.

http://www.msnbc.msn.com/id/12390227/

[cliss]

1. Oh, I think I can answer that.

Hugo Chavez said recently that he "wants oil prices to rise". He has stated that oil should be around $100.00 per barrel. They benefit from high oil prices.

Iran does also. OPEC also encourages prices to go up.....but not too much, or the whole system falls apart. That's why OPEC was formed....

Organization (Cartel) of Petroleum Exporting Countries.

[Oerdin]

2. These guys are shooting themselves in the foot.

High prices only encourage people to become more fuel efficent and to search for alternatives. Personally I hope these asshats restrict supply and drive prices still higher so that we can finally get alternatives moving in a serious way.