Iran says oil at 115 dollars a barrel is too low

18-Apr-2008 (3 comments)

TEHRAN (AFP) — Iranian President Mahmoud Ahmadinejad said that oil is priced too low at 115 dollars a barrel adding that the commodity "should find its real value", the state-run broadcasting website reported Saturday. "Oil at 115 dollars a barrel in today's market is a deceiving figure, oil is a strategic commodity and should find its real value," Ahmadinejad was quoted as saying.

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oon boshkeh bokhoreh too saretoon

by Jahanshah Javid on Fri Apr 18, 2008 11:23 PM PDT

What is a fair price for oil? I hear this all the time: Oil is cheaper than bottled water. That may be, but the oil consumers are not just rich countries in the West. There are dozens of nations that are suffering immensely because of the rising costs of imported oil. In any case, high oil prices and the impact of CO2 pollution on global warming are so devastating that countries must start investing on alternatives NOW. There's no good excuse for not forcing automobile companies to multiply their production of hybrid and fully-electric cars in five years.