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Tag Archives: Saudi Arabia

“Interesting Times” in the Oil Patch


[courtesy Google Images]

[courtesy Google Images]

Ancient Chinese curse:  “May you live in ‘interesting’ times.”

 

In the first week of A.D. 2016, Salon magazine published an article entitled “A year of war: 10 destructive armed conflicts the U.S. fueled in 2015”.   According to Salon,

 

“2015 was marked by violence and war. The most prevalent story in the U.S. media throughout the year was ISIS. The Paris attacks, mass shootings, police brutality, terrorism, the Charleston massacre and the refugee crisis were also among the top 10 stories of the year.”

That article illustrated an important point:  As A.D. 2015 ended, the mainstream media and the American people were focused on questions of war.  Would Syria erupt in full-scale war?  Would Russia declare war on Turkey?  Saudi Arabia with Iran?  Shiites with Sunnis?  ISIS sneaking backpack nukes into the US?  Israel with . . . well, Israel could be fighting with anyone.  What about the US goading China or Russia into WWIII?

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Baiting the Bear


[courtesy Google Images]

[courtesy Google Images]

The Wall Street Journal (“Saudi Arabia Cuts Oil Prices Amid OPEC Price War”):

 

“On Sunday [October 4, A.D. 2015], Saudi Arabia made deep reductions to the prices it charges for its oil, hard on the heels of cuts last month by rival producers in the Gulf.

“With U.S. production still increasing despite lower oil prices, members of the Organization of the Petroleum Exporting Countries are battling to keep their share of the last growing markets in Asia.

“The move comes as Iran, Iraq and other countries in the Middle East made deeper cuts in their official prices than Saudi Arabia last month.

“Saudi Arabia has vowed to keep pumping at high levels as it hopes lower oil prices will stimulate Asian demand and hit rival production in the U.S. that is expensive to produce.”

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Posted by on October 6, 2015 in Middle East, Oil, Russia

 

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Saudi Arabia & Kuwait Risk Retaliation


Oil Patch Roulette? [courtesy Google Images]

Oil Patch Roulette?
[courtesy Google Images]

On January 13th, Reuters reported in “Iran’s President Rouhani says countries behind oil price drop will suffer”, that:

 

“Iranian President Hassan Rouhani said that countries behind the fall in global oil prices would regret their decision and warned that Saudi Arabia and Kuwait would suffer alongside Iran from the price drop.  ‘Those that have planned to decrease the prices against other countries will regret this decision,’ Rouhani said in a speech broadcast on state television as oil plunged to near six year lows on international markets. ‘If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran.’

 

Will the falling price of crude oil causes Iran to instigate some form of reprisal, vengeance or even violence against the Saudis or Kuwait?  Assassinations?  Bombings?  Covert support for political dissidents within Saudi Arabia and/or Kuwait?

Will the current fall in oil prices be stopped by the economic forces of supply and demand or by military forces of bang-bang and ka-boom!?

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Posted by on January 22, 2015 in Economic collapse, Economy, Inflation/Deflation, Oil, Values

 

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