TEHRAN, Iran"” Iran's hard-line President Mahmoud Ahmadinejad was quoted Saturday as saying crude oil prices at $115 a barrel are too low, and that oil must "discover its real value."
Ahmadinejad accused Western industrialized nations of "selfishness" in their quest for cheaper oil.
"When they get hold of oil, they assume that oil is a free commodity and belongs to them and has wrongly been placed in other territories... This is the spirit of selfishness and arrogance," Ahmadinejad was quoted as saying.
RE: Ahmadinejad Says Oil at $115 a Barrel is Too Low
I'm going to write the CIA and recommend that we drill underground through the border and suck up all of Iran's oil. When they're dry, we can wave to the observation postsacross the border and laugh.
RE: Ahmadinejad Says Oil at $115 a Barrel is Too Low
I agree with him. Oil is still too cheap. I still haven't heard too many calls for us to drill for our own oil. Just last week I've heard "We need alternative energy". That tells me gas is still too cheap and needs to go to $5.00 a gallon. Maybe then more folks will come around to going after cheap oil. If not, they should be full of smiles because alternative energy looks better and better.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
RE: Ahmadinejad Says Oil at $115 a Barrel is Too Low
I wonder just how much we have that could be developed? That part sure seems to be swept under the rug quickly when discussions come up. Any educated guesstimates? Refinement would have to be addressed as well.
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RE: Ahmadinejad Says Oil at $115 a Barrel is Too Low
Quote:
ORIGINAL: Fieldmouse
I agree with him. Oil is still too cheap. I still haven't heard too many calls for us to drill for our own oil. Just last week I've heard "We need alternative energy". That tells me gas is still too cheap and needs to go to $5.00 a gallon. Maybe then more folks will come around to going after cheap oil. If not, they should be full of smiles because alternative energy looks better and better.
We do plenty of drilling and refining here in America. The problem is that a lot of our domestic crude is sold abroad on the open market because it is worth more profit to the oil company. Is $115 a barrel to low? Yes because it was $117 today. It is funny how it works on the consumers. Today I needed a fill up and knew a local station sells for 5 cents off on Tuesday. Since I was driving right past I stopped and bought my gas there. I had driven past several stations on the way there and they all were in the $3.53 to $3.58 range. The station that had the sale was hawking the gas at $3.48 and I felt like I had just won the lottery. Can you imagine being pleased to pay almost $3.50 a gallon for gas especially when the same station was selling it at $3.33 two weeks ago.? Two years ago on my 4600 mile round trip elk hunt we found gas at $1.99 in the Mid West. Last year it was $2.59 at the same stations. This year it will certainly be over 4 bucks inmid October when I go back. What has really changed other than record profits for the oil company? Supply and demand is actually better now than it was3 years ago because of the damage Katrina did to the drilling platforms and refineries. If the oil company bottom line is an 8% profit margin how the heck can they be growing profits by leaps and bounds when the demand hasn't followed. I was an engineer not an economics person but the profit has to come from something. In this mornings news paper there was an article about how our state is initiating an investigation on corruption and price fixing against the oil companies. The federal government is right in there telling the state to leave it alone. Big oil lobbying dollars are at work on that one. I guess I just figured it out. The price of gas is so high because they had to raise the price to pay off all the dirty politicians. Even big oil needs to make a profit just like the politicians all on the backs of the working poor. Pretty soon gas will cost more money than beer unless the trucking costs drive that up too.
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RE: Ahmadinejad Says Oil at $115 a Barrel is Too Low
There you CI, it's the oil companies fault. I'm also an engineer but I'm tied to the economics part of the puzzle. The oil on line today has been searched, drilled and infastructured many years ago. It's called ROI. Our problem is not drilling enough to keep up with predicted growth. This goes back 30+ years ago. They are doing the very same thing today with power. Let's restrict investment in new sources because it's evil. This will drive up costs because supplyis restrictedbut the investment was made years ago so ROI goes through the roof. Remeber the oil comanies pay out almost triple their profits in taxes and royalties.
Fact is less than 40% of our energy used here in the US comes from Oil. You feel the pain after 30+years of atacking that resource. Imagine the pain when coal is eliminated. When need to reverse this course sooner rather than later.
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John Adams “The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.”
Ronald Reagan: 'Everybody that is for abortion has already been born'
"I never said I was worth it. I only said I wouldn't do it for less " William F. Buckley Jr.
Ahmadinejad Says Oil at $115 a Barrel is Too Low
