Tehran Times: Mideast tension = $120 a barrel

Tehran Times: Mideast tension will equate to $120 a barrel

www.tehrantimes.com

Vice chairman of the Energy Committee of Majlis (Iran’s parliament) predicted that oil price would rise to 120 dollars if tensions in the Middle East continued.

Nasser Sudani told PIN in case tensions between regional countries like Iraq and Turkey mounted and led to the outbreak of a war, oil price would reach 120 dollars.

(visit the link for the full news article)



[edit on 30-10-2007 by anhinga]

Important article from the heart of the matter. And he's not even talking war w/ Iran yet, this is just over the Iraq/Turkey disputes.

Here's more:

He also blamed U.S. threats against Iran for the increase in oil price, warning that sanctions against Iran and military threats against Syria and Lebanon would cause a new crisis in the Middle East and consequently in the world.

The lawmaker referred to the unprecedented economic crisis in the United States and added the U.S. and some Western countries had attempted to stockpile oil in a bid to lift oil output, leading to an increase in demand for the commodity and in its price.

“In the meantime, oil price jumps as cold season approaches,” said the MP.

www.tehrantimes.com
(visit the link for the full news article)

[edit on 30-10-2007 by anhinga]

Oil is going to $120 / barrel because the elite controlling OPEC want it there.

Oil is abiotic, there is NO shortage, and the same for natural gas (natural gas I heard talked about by scientists right on a radio program.) They took a piece of granite and put it under millions of PSI of pressure, and natural gas extruded right from it. Peak oil is a complete lie, and is secretly funded by the oil companies themselves (including funding green peace) to keep the belief in artificial scarcity up.

www.anomalicresearch.com...

Busted link XR500....

...I've read a little into peak vs abiotic and I usually feel the same way -- that maybe it's a hoax. How are we supposed to know? Well, here at ATS, there's a "peak oil" category, so maybe some experts around can help us understand what's the truth here since "peak oil" is the accepted norm at ATS.