Oil prices haven’t yet reached true value: Iranian President

[NNN0LHI]

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/middleeast/2006/April/middleeast_April520.xml§ion=middleeast

TEHERAN - In his first remarks on the price of oil, Iranian President Mahmoud Ahmadinejad said on Wednesday that crude oil prices - now at record levels - still were below their true value, state-run Teheran radio reported. The hard-line Iranian leader, who is embroiled with the West and the United Nations over Teheran’s nuclear program, also said developed countries were benefiting most from high oil 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.

Ahmadinejad stopped short of saying Iran would use oil as a weapon, a tactic much feared by his antagonists on the nuclear issue, nor did he say what oil prices should be. snip

George Orwel, an analyst at the New York-based Petroleum Intelligence Weekly said he thought Ahmadinejad was not serious but playing the oil card to resist pressure over his nuclear program.

“They are using the oil as a political football, every time there’s an issue with Iran, the oil market freaks out,” he said in a telephone interview.

[SlipperySlope]

1. Marx would be proud...

That is sort of Karl Marx reasoning. Because the oil derivatives sell at a profit, either the cost of the inputs should rise, or the price of the outputs should fall.

If he really wanted to screw with the US, he would ignore Israel and use his nukes to blow up all the refining capability in the region.

[Jim Warren]

3. Oil weapon: what Sy Hersh said they'd probably do n/t

[Poppyseedman]

2. I can't wait for the day we are able to tell the Ahmadinejad's

of the world to take their oil and shove it.

Personally, if I was president, we would spend every extra nickel above taking care of the basics to fund alternative energy and new fuels. Basically a new moon program.

Ten years to be at 25% of the level we are today consuming petroleum products

Our congress should should all be horse whipped for letting serious energy legislation sit for decades.