Today, when I saw the price of Brent oil at nearly $118, and further read that there is a fifteen percent premium included in the price because of the fears about Iran, I wondered who does it help to pump up these fears? Exactly, the oil producers, including Iran.
I watched the Press TV coverage of President Ahmadinejad at the ribbon cutting at the plant in Tehran, and then he lowering a rod into the water. It obviously is a showcasing of achievement in the nuclear technology field, and the President gave a heartening explanation to his people of his motivation in keeping focused on this advancement - the deaths of his nuclear scientists, the pressure of the threat of sanctions, the double-standards of discouragement developing nations receive in their attempts to reach par with the industrialised economies. At the same time, the programme repeated the assurance that the technology is being developed for peaceful purposes.
Bearing in mind that Iran is an orthodox society, and their Supreme Council, the Ayatollahs, are theologians who do what is right according to the light, and wish to see conservative continued development of their nation, and the chosen President is following a pragmattic plan of development, I think everybody should relax and defuse the tensions in the region.
A lower oil price will help stop some of the nations sliding into recession, however mild,
and a reducing of the fifteen percent premium would be of great help.
Congratulations to Iran on their advancement in their alternative energy strategy.