Skip to comments.Crude oil ought to be $150 per barrel: Iran
Posted on 09/16/2012 7:13:35 PM PDT by Perdogg
Crude oil should be at least $150 per barrel, Iran's oil minister was quoted as saying on Sunday, and the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy.
Benchmark Brent crude prices rose to nearly $118 a barrel on Friday, stoking fears that surging energy costs could harm fragile economic growth. Days earlier, Saudi Oil Minister Ali al-Naimi said he was worried by high prices and the kingdom would take steps to moderate them.
(Excerpt) Read more at reuters.com ...
It is a common line amongst liberals that there are legitimate reasons for Iran to develop nuclear capabilities. (But isn't the type of uranium-enrichment being practiced by Iran specific for bomb-making?)
But even if it were true that Iran is trying to develop nuclear capabilities for peaceful reasons, what is the point? With all the oil they're sitting on, they don't need any other kind of energy -- the fossil fuel they have will last them forever.
I’m sure our Great Messiah agrees with that!
Iran ought to be a free democratic state.
the mere threat, by this country, to fully open up oil drilling and to increase production to historic levels, would drop the world price of crude by 75%. They need our money....we must show them that we do not need their oil.
Hey, Iran: did you know:
1. Natural gas is really cheap right now.
2. We’ve got an awful lot of it within our own borders and almost certainly a whole lot more to find.
3. 33 percent of our our oil use is for heating or freight. Heating could be switched over to natural gas pretty quickly. The big problem with trucks using natural gas is infrastructure. But if natural gas stays low and oil goes to $150 a barrel, someone could make a lot of money building that infrastructure.
That’s a 1/3 drop in U.S. oil consumption, and $150 a barrel would probably prompt all the bus companies to switch over too, plus a lot of cars. You could be looking at a 40 percent drop in U.S. consumption. Iran, You sure you want that $150 a barrel stuff?
Fine. Why don’t we create FPEC. Food Producing Export Countries.
A bushel of grain for a barrel of oil.
If they don’t like it then let em eat their next most valuable asset... Sand.
I’m guessing that is about where it will be after Iran’s oil fields, pipelines, and terminals are turned into heaps of smoking scrap metal by Israel.
“But even if it were true that Iran is trying to develop nuclear capabilities for peaceful reasons, what is the point? With all the oil they’re sitting on, they don’t need any other kind of energy — the fossil fuel they have will last them forever.”
Why use it themselves when they can sell it for $120 a barrel?
We should be using our natural gas an tell the Muzzie rats to go play with themselves
Iran ought to be a solid sheet of glass.