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Greenback Assaulted at OPEC meeting  

Posted Nov 18, 07 9:52 PM CST in World    Editor's Choice

(newser) – Calling it a "small and worthless piece of paper,” Iran’s president today urged OPEC's members to drop the depreciating US dollar as its official currency. Mahmoud Ahmadinejad blamed President Bush for the dollar’s decline and its adverse effects. The comments highlight mounting tension among OPEC members, the AP reports.

Saudi Arabia, a strong US ally, tried to deflect the dollar issue, instead heralding Riyadh’s $300 million donation to a program studying the oil industry’s effect on the environment. But Hugo Chavez, a noted Bush antagonist who backs the euro, sided with Iran, declaring, “The empire of the dollar has to end.”

Source Associated Press

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Greenback Assaulted at OPEC meeting
Venezuelan President Hugo Chavez, right, talks with Iranian President Mahmoud Ahmadinejad, center, during closing ceremony of the third OPEC (Organization of the Petroleum Exporting Countries) Summit...   (Associated Press)
Greenback Assaulted at OPEC meeting
Iran's President Mahmoud Ahmadinejad, answers a question from the media during a news conference at the end of the OPEC (Organization of the Petroleum Exporting Countries) summit in Riyadh, Saudi Arabia,...   (Associated Press)
Greenback Assaulted at OPEC meeting
Venezuelan President Hugo Chavez, right, talks with Iranian President Mahmoud Ahmadinejad, during closing ceremony of third OPEC (Organization of the Petroleum Exporting Countries) Summit in Riyadh in...   (Associated Press)
Greenback Assaulted at OPEC meeting
An Iranian worker Bahman Famil Khalili works at Tehran's oil refinery, Iran, Saturday, Nov. 17, 2007. Iran's president said Saturday that the Organization of Petroleum Exporting Countries is "under heavy...   (Associated Press)
Greenback Assaulted at OPEC meeting
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Iran  • oil prices  • Saudi Arabia  • Venezuela  • Hugo Chavez  • Mahmoud Ahmadinejad  • US dollar  • OPEC  • King Abdullah  • United Arab Emirates  • Kuwait  • Qatar  • foreign markets


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