June 11, 2008 / 5:47 PM / 10 years ago

Gaddafi says U.S. to blame for high oil price

Libyan leader Muammar Gaddafi drinks during the opening of the two-day Arab Summit in Damascus March 29, 2008. REUTERS/Ahmed Jadallah

TRIPOLI (Reuters) - Libyan leader Muammar Gaddafi said on Wednesday the United States was to blame for high world oil prices because it has caused a weak dollar, market speculation and geopolitical tension.

“They are talking about oil prices saying they are very high — its not our fault,” said the leader of the OPEC member. “This is the fault of America.”

“America is responsible for these increases because of the dollar’s value, which is very low,” he said in a speech at a rally at a former U.S. base to mark the 38th anniversary of the departure of U.S. troops from Libya.

Without the impact of the weak dollar, the oil price would be $30 a barrel instead of $130, he said.

“Speculation and tension in the region are the cause of these oil prices but they (the United States) are behind this speculation and tension.”

Reporting by Lamine Ghanmi; Editing by Tom Pfeiffer

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