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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (51138)	6/27/2005 1:40:52 AM
From: geode00	Read Replies (1) \| Respond to of 173976

Oil Rises to Record as New Iran President Backs Nuclear Plan June 27 (Bloomberg) -- Crude oil rose to a record in New York after Iran, OPEC's second-largest producer, elected a president who promised to pursue the country's nuclear power program, increasing tension with the U.S. ``It's Iran's right'' to develop nuclear energy, President- elect Mahmoud Ahmadinejad said yesterday. Ahmadinejad, a founder of the group that stormed the U.S. embassy in Iran in 1979, has rejected dialogue with the U.S., which accuses the country of seeking to develop nuclear weapons. ``This is one other thing that you don't need when there's no slack in the system,'' said Anthony Nunan, manager of international petroleum business at Mitsubishi Corp., Japan's biggest trading company. ``This is definitely bullish.'' Crude oil for August delivery rose as much as 63 cents, or 1.1 percent, to $60.47 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $60.36 a barrel at 11:49 a.m. Singapore time..... quote.bloomberg.com This is what happens when an oil man gets into office. For goodness sakes there used to be an oil tanker named after Condie, Bush's other wife. We need an alternative fuels person in office.