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| AFX News · Aktuelle AFX News Nachrichten · Archiv< zurück < · Druckversion |
| 10.04.2005 15:37 |
French Industry Minister says oil industry should sell in euros, not dollars |
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"One could insist on an international scale, in order to have better (price) stability, that the euro become the currency for oil transactions," Devedjian said on Radio J. "It's a political position that Europe could support... We are suggesting Europe adopts this policy." But Devedjian admitted that "we shouldn't dream, there will not be pricing only in euros" and that transactions would still take place in dollars and other currencies. Devedjian believes speculation is behind at least 15 usd of the price of each barrel of oil. Crude for May delivery stood at 53.32 usd a barrel in the US at the end of trade Friday. Devedjian also proposed moves towards better visibility and management of European oil stocks to discourage speculation. "Countries with large stocks could literally intervene on the market when there is strong speculation." To prevent speculation "we also need a firm dialogue with producing nations so that productive investments can take place," he said. But he dismissed the notion of France reintroducing its TIPP floating fuel tax, saying it is not effective. He warned that if oil prices remain above 50 usd per barrel throughout 2005 this would be "very bad news" for French growth and jobs. paris@afxnews.com mrg/ak COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and the AFX Financial News logo are registered trademarks of AFX News Limited For more information and to contact AFX: www.afxnews.com and www.afxpress.com © 2009 AFX News |
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