Posted on 04/24/2006 12:44:07 AM PDT by familyop
OIL has raced to an all-time high as Iran continued to defy world pressure to halt its nuclear programme, while a quarter of Nigeria's output lay idle after rebel attacks and Iraq's once considerable oil industry was mired in crisis.
Without naming the United States directly, Iran's oil minister, Vaziri Hamaneh, said that countries trying to intimidate his country over what it regards as its right to enrich uranium were the ones to blame for the nervousness that has rattled oil markets, with prices now over $75 a barrel.
"Research in enrichment should not be the cause for that sort of tension," he said.
"We are moving within the regulations. We have to ask the question what is really the cause of the tension and who are the people who are intimidating us?"
The West, led by Washington, has accused Iran of pursuing a nuclear weapons programme while Tehran insists that its intentions are peaceful and civilian.
The United Nations Security Council has given Iran until Friday to halt enrichment activity. The US said the oil crisis was Iran's fault for acting in defiance of the international community.
If the Uranium is for peaceful purpose then Iran should have no problem processing it in Russia.
If the past is prelude, Iran will regret causing higher oil prices. High oil prices will spur conservation and development of alternative energy supplies -- that will result in a crash in the price of oil, which may last for decades.
Democrats blame Bush for surge in cost of oil
If we end up bombing them, they'll be pulling a "McKinney". They'll be accusing the U.S. of touching them inappropriately.
;-)
In other news: Iran to keep oil prices above $70
Iran's oil minister, Vaziri Hamaneh, said that countries trying to intimidate his country
Funny, they don't seem intimidated.
From your keyboard to God's ears. Although I should point out that it was not that long ago on FR that merely mentioning "conservation" and, Heaven forfend, "alternative energy" could get you into a pretty serious flame war. Interesting how $3 gas focuses the mind.
One can only hope. I hate blame shifting.
Last Labor Day when it was over $3 a gallon, people on the NYS Thruway were actually driving less than the speed limit, about 55-60 mph. They were all in the right lane and those in the left were only passing me at about 65. Nobody went flying by.
Kinda makes you go "Hhmmmmm?"
Why would the seller of a product be complaining about the price being too high?
OPEC has stated oil prices are too high. They know the market will reach a tipping point and potentially bring competition from other energy sources into play.
There are tankers stacked up waiting to offload. There is no shortage of oil. The futures price is being driven up by traders supposedly concerned about Iran.
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