Real Value of Fossil Fuels

Wednesday, November 21, 2007

The Iranian President, Dr. Mahmoud Ahmadinejad, has said that fossil fuel has yet to achieve the status it deserves in the world.

"Fossil fuel has a low price in comparison with its real value" Ahmadinejad said. "OPEC is a vital economic and energy organization in the world. It is under high political and economic pressure. The Riyadh summit will take up the major issues relating to fossil-based energy," Ahmadinejad noted.

The president said that the participants in the summit will also discuss such important issues as currency for oil transactions, energy conservation, economic cooperation among OPEC members and making use of the potentialities available to the producing countries.