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OPEC President: Solve Geopolitical Tension

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Eugene Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-05-06 06:26 AM
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OPEC President: Solve Geopolitical Tension
OPEC President: Solve Geopolitical Tension

The Associated Press
Monday, June 5, 2006; 6:25 AM

SEOUL, South Korea -- OPEC President Edmund Daukoru on Monday urged the
international community to work to solve geopolitical tensions that help
contribute to high oil prices.

"Geopolitical tensions ... let the global community fix them," Daukoru said,
emphasizing that the 11-member Organization of Petroleum Exporting Countries
has no political role itself.
<snip>
Oil prices rose Monday in Asia after Iran's supreme leader said the day before
that his nation could jeopardize the world's oil supply if the West punished Tehran
over its nuclear program. Light, sweet crude for July delivery rose $1.02 to
$73.35 a barrel in electronic trading on the New York Mercantile Exchange.
<snip>
Daukoru said his main concern about high oil prices is that they will divert investment
away from fossil fuels and into alternative sources of energy.
<snip>

Full article: http://www.washingtonpost.com/wp-dyn/content/article/2006/06/05/AR2006060500195.html
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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jun-05-06 10:32 AM
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1. I bet they know they're at the limit. We're passing peak.
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