Zaki Yamani: US Or Israeli Attack Against Iran = $100 Oil - Bloomberg

[hatrack]

March 21 (Bloomberg) -- Crude oil would soar above $100 a barrel in the event of a U.S.-led attack against Iran, Sheikh Ahmad Zaki Yamani, the former Saudi oil minister, said today.

``If America or Israel attack Iran and I assume Iran reacts, the price of oil will go to three digits and you know what this means for the world economy,'' Yamani told a conference in London today. ``It's a very horrible thought.''

Yamani gave no indication as to whether he thought a conflict with Iran was likely.

``If you think logically this should not happen but sometimes things happen against logic, like the invasion of Iraq and see what is happening now,'' he said. He said Saudi Arabia doesn't want to see oil slip below $40 a barrel and that OPEC favors crude closer to $60.

EDIT

http://www.bloomberg.com/apps/news?pid=20601103&sid=ap9rNEhl99pk&refer=us

[whistle]

1. Woo hoo, just what Big Oil wants $100 per barrel crude and $5.00 per gallon gas

:woohoo:

[jpak]

2. Why would we want to bomb Iran?? What do they have that threatens us so much???

PV farms??

Wind farms???

Biogas plants????

:shrug: