Ahmadinejad says rich states should pay the 'real price of oil'

Ahmadinejad says rich states should pay the 'real price of oil'

Tehran (Platts)--21Apr2006

Iranian President Mahmoud Ahmadinejad, expanding on an offer made earlier
in the week for a special fund to help mitigate the impact of high oil prices
on the economies of poor nations, said Friday that rich countries should pay
"the real price of oil."
He told reporters at the opening of an oil fair that he had asked the oil
and foreign ministries to contact the Vienna-based OPEC Fund to try to adopt a
formula to help the poorer states whose economies are suffering as a result of
record oil prices.
"There is a fund at OPEC, and the oil minister and the foreign ministry
are consulting to see if there is a capacity within this fund," the Iranian
leader said. "It should be strengthened. We should adopt a formula and a
schedule to prevent this increase of oil prices from harming impoverished
countries."
He added: "Those industrial countries which have an annual oil revenue of
100 billion dollars should pay the real price of oil."
Oil prices set new records this week mainly because of market jitters
over the diplomatic impasse over Iran's nuclear program. Prices also moved up
on Thursday after Ahmadinejad said that oil prices had not yet reached their
true market value, suggesting that OPEC's second biggest producers was not
against prices drifting even higher.

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