While most of us are pretty amazed at just how high oil prices have risen recently (ended the week at $116.69), one man thinks that oil is still pretty cheap compared to its true value. According to Iranian President Mahmoud Ahmadinejad, oil prices have yet to hit fair value.
Speaking in front of an oil and gas exhibition in Tehran, Iran's President stated that the Western world was "selfish" in its desire to obtain cheap oil. A big reason for the recent run up in oil prices can be attributed to the weak U.S. dollar, and Ahmadinejad definitely made it a point to bring up the weak currency, calling the dollar "a handful of paper" with no global support.
While I take most of what I hear from the Iranian President with a grain of salt, as far as the dollar is concerned, he does make a decent point. Over-exaggerated, yes, but still a valid point. The dollar has been steadily falling and with more interest rates on the horizon it will only weaken further as the year progresses.

Oil prices are off to a strong start this week, as traders are pushing prices higher in reaction to 








