Present high crude oil prices fabricated by US: Gaddafi

Dubai, Jun 19 (UNI) Libyan leader Muammar Gaddafi has charged the US with fabricating the present soaring crude oil prices stating that the high prices were due to depreciation in dollar.

''Do not think that the barrel of oil equals 130 dollars.

Dollar is declining and it has a redeeming impact on oil-rich countries. That has given rise to oil prices. The civil war in Afghanistan and Iraq have also contributed to this situation,'' the Libyan leader said in his address to the Conference of Leaders of 25 Sub-Saharan countries.

The Jamahariya News Agency (JANA) quoted the Libyan leader as saying that in the next 100 years, the Saharan region would enjoy the best climatic conditions. This would turn the region into a prosperous one and countries like Mauritania, Mali, Niger, Chad, Sudan and Libya would get benefitted.

He assured masssive assistance for development of agriculture in this region. This was required to change from traditional to modern methods to improve productivity.

A few days ago he had also made sarcastic remarks about U S Democratic Presidential candidate Barak Obama, saying his utterances of helping Israel clearly showed his anti-Arab bias.

UNI XC/SMA/RB PK NS1652