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November 12, 2008

Iran Whines that Oil Prices Are Too Low

You know who I blame? You know who. The same Them who trashed our own economy (according to the Iranians).

Did Iran really think that devotion to Allah would protect them from that crazy Jew-Magic?

ran has said the Organisation of Petroleum Exporting Countries should take action to stabilise oil prices.

Expectations of weaker energy demand has pushed prices to fall below $60 a barrel for the first time since March 2007.

Gholamhossein Nozari, Iran's oil minister, said that the stability of prices "needed a far reaching decision and further measures," after prices fell from a peak of $147 in July.

"We are going to review oil market conditions and if there is a need, there might be an emergency meeting," he said on Tuesday.

Iran depends heavily on oil sales, earning 80 per cent of its revenue from oil exports, and the Islamic Republic set its annual budget on the assumption that oil would trade at $90 a barrel.

After cutting oil production by 1.5m bpd in October, an Opec source said on Tuesday the group may cut oil supplies by a further one million barrels per day (bpd) when it meets in Algeria in December.

And you know what this means? That's right -- Iran needs nuclear "energy."

A senior energy adviser to the Iranian government has said energy price instability is precisely the reason Iran needs to pursue nuclear energy, despite the face of international sanctions against the country's nuclear programme.

Of course, of course.

Oh, the falling price of oil is probably also the reason they just tested a a new long-range missile. See, in the future, most oil will be delivered ballistically.

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posted by Ace at 04:01 PM

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