AuthorTopic: 🛢️ Oil Resource Wars  (Read 2009 times)

Offline Surly1

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That should bump up the oil prices.

RE


Saudi Arabia reportedly shuts down half its oil production after drone attack

The Iran-backed Houthis had been behind a series of attacks on Saudi pipelines, tankers and other infrastructure in the past few years as tensions rise among Iran and the U.S. and partners like Saudi Arabia.


OK. What you wanna bet this was an Israeli drone attack, launched with(or without) Saudi connivance, so Saudi can blame the Houthis (and their Iranian backers) and make a firmer case for Uncle Sugar's materiel (or better yet, direct military) aid?

The acrid smell of bullshit is in the air.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline Surly1

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That should bump up the oil prices.

RE

It could also be just that fucking simple. I may be overthinking it, especially in light of the article you posted earlier.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline RE

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That should bump up the oil prices.

RE


Saudi Arabia reportedly shuts down half its oil production after drone attack

The Iran-backed Houthis had been behind a series of attacks on Saudi pipelines, tankers and other infrastructure in the past few years as tensions rise among Iran and the U.S. and partners like Saudi Arabia.


OK. What you wanna bet this was an Israeli drone attack, launched with(or without) Saudi connivance, so Saudi can blame the Houthis (and their Iranian backers) and make a firmer case for Uncle Sugar's materiel (or better yet, direct military) aid?

The acrid smell of bullshit is in the air.

False Flag is definitely a possibility.  A full scale WAR is of course the best way to get the oil price up, which the whole industry is in desperate need of.  The problem with this idea of course is that it doesn't put more money in consumer wallets to BUY more oil, in fact they will buy less.  So on the revenue end, it's a wash at best.

This is how the End of the Age of Oil arrives.

RE
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Offline RE

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That should bump up the oil prices.

RE

It could also be just that fucking simple. I may be overthinking it, especially in light of the article you posted earlier.

Against the False Flag-Israeli Hypothesis is that according to the MSM, the Houthis HAVE taken credit for this attack and promised further escalation.  One has to remember Iran will benefit from higher oil prices too.

One would expect a Saudi retaliation attacking Iranian oil production facilities.

RE
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Offline RE

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https://www.cnbc.com/2019/09/15/us-crude-oil-jumps-15percent-after-drone-strikes-disrupt-saudi-crude-production.html

Brent crude oil jumps 13% after drone strikes disrupt Saudi crude production
Published 2 hours agoUpdated 34 min ago
Yun Li   @YunLi626
   

Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia, September 14, 2019.
Stringer | Reuters
   
   
Key Points

    Saudi Aramco, the national oil company, reportedly aims to restore about a third of its crude output, or 2 million barrels by Monday.
    Sunday evening, President Donald Trump said he was authorizing the release of oil from the Strategic Petroleum Reserve to keep the markets “well-supplied.”


Oil prices jumped more than 10% after a coordinated drone attack hit the heart of Saudi Arabia’s oil industry on Saturday, forcing the kingdom to cut its oil output in half.

U.S. West Texas Intermediate crude futures popped $6.4, or 11.67%, to $61.23 per barrel. Brent crude futures soared $7.89, or 13.3% to $68.07.

Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday, knocking out 5.7 million barrels of daily crude production or 50% of the kingdom’s oil output. Saudi Aramco, the national oil company, reportedly aims to restore about a third of its crude output, or 2 million barrels by Monday.

“While in the short term the direct physical impact on the market might be limited, this should move the market away from its bearish macroeconomic cycle and raise the risk premium in the market as funds reduce their short positions,” said Chris Midgley, global head of analytics, S&P Global Platts.

Sunday evening, President Donald Trump said he was authorizing the release of oil from the Strategic Petroleum Reserve to keep the markets “well-supplied.”

Abqaiq is the world’s largest oil processing facility and crude oil stabilization plant with a processing capacity of more than 7 million barrels per day. Khurais is the second largest oil field in the country with a capacity to pump around 1.5 million barrels per day. In August, Saudi Arabia produced 9.85 million barrels per day.

Yemen’s Houthi rebels claimed responsibility for the attack, saying it was one of their largest attacks ever inside the kingdom. The Houthis have been behind a series of attacks on Saudi pipelines, tankers and other infrastructure in the past few years.

Trump also said there is reason to believe the U.S. knows the culprit and is “locked and loaded,” while waiting to get the verification from the kingdom to proceed.

The U.S. has blamed Iran for the drone strikes on those important facilities. Secretary of State Mike Pompeo said in a tweet Saturday Iran has launched an “unprecedented attack on the world’s energy supply.”

“If the Iranians have been driven to desperate measures from the loss of crude export revenues, an attack on Saudi capacity seems a likely response,” Jason Gammel, energy analyst at Jefferies, said in a note on Sunday. “The risk of wider conflict in the regions, including a Saudi or US response, will likely raise the political risk premium on crude prices by $5-10/bbl.”

The latest attack came as Saudi Arabia moves forward to take Saudi Aramco public in a major shakeup of the kingdom’s energy sector. Saudi Aramco President and CEO Amin Nasser said Saturday nobody was hurt in the attacks and work is underway to restore production. Aramco did not immediately respond to CNBC’s request for comment on Sunday.
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Offline BuddyJ

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Re: 🛢️ Oil Resource Wars
« Reply #21 on: September 16, 2019, 07:10:22 AM »
This could really be an interesting and potentially profitable event for American producers, right?

First, we have OPEC cutting back production because the US has plugged in a new 5+ million barrels a day over the last half decade or so, and without the ability to control free market oil supply, OPEC can only cut back their own to maintain prices.

So they do this...keeping the market near a $50-$60 window...and suddenly now we've got an attack on production that will decrease it, causing the expected price increase, and presto! Suddenly, the companies in the US that have been hanging on by their fingernails get a windfall, allowing them to stave off possible bankruptcy in the near term, maybe even continuing to grow production, and when the Saudi's get ready to come back online at full production? It isn't needed! Between decreasing demand, the US doing its best to span the gap, and presto! Now we've got the Saudi's production constrained because they aren't willing to crash the price.

It is like the dynamics of 1986, except the Saudi's this time have to try and stomp out American industry and the shale revolution.
« Last Edit: September 16, 2019, 08:09:57 AM by BuddyJ »

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🛢️ Iran seizes vessel in Gulf for allegedly smuggling diesel – reports
« Reply #22 on: September 16, 2019, 07:26:09 AM »
https://www.theguardian.com/world/2019/sep/16/iran-seizes-vessel-in-gulf-for-allegedly-smuggling-diesel-fuel-reports

Iran seizes vessel in Gulf for allegedly smuggling diesel – reports

Reports come amid raised tensions after weekend attack on major Saudi oil installation

Reuters in Dubai

Mon 16 Sep 2019 08.17 EDT
Last modified on Mon 16 Sep 2019 08.34 EDT


Iran’s Revolutionary Guards have seized a vessel in the Gulf for allegedly smuggling 250,000 litres of diesel fuel to the United Arab Emirates, Iran’s semi-official news agency ISNA has reported.

“It was detained near Iran’s Greater Tunb island in the Persian Gulf … the crew have been handed over to legal authorities in the southern Hormozgan province,” ISNA said on Monday, without elaborating on the nationalities of the crewmen.

The reported seizure coincided with raised international tensions following a weekend attack on a major oil installation in Saudi Arabia, Tehran’s longtime regional foe. Yemen’s Iran-aligned Houthi movement claimed responsibility, while the US has blamed Iran outright for the strike. Tehran has denied the accusation.

Iran, which has some of the world’s cheapest fuel prices owing to heavy subsidies and the fall of its national currency, has been fighting rampant fuel smuggling by land to neighbouring countries and by sea to Gulf Arab states.

Iran stepped up its fight against smuggling fuel this month when its coast guard seized a vessel for allegedly smuggling fuel in the Gulf and detained its 12 Filipino crew members.

In July, Iran seized a British oil tanker near the strait of Hormuz for alleged marine violations, two weeks after British forces detained an Iranian tanker near Gibraltar, accusing it of taking oil to Syria in violation of EU sanctions.

Iran’s Adrian Darya 1, formerly Grace 1, was released last month. Abbas Mousavi, Iran’s foreign ministry spokesman, said on Monday that the British-flagged Stena Impero tanker would be released soon.

The latest reported ship seizure by Iran follows a series of incidents involving shipping in and around the Gulf after US sanctions on Iranian oil exports took full effect in May. The incidents coincided with Houthi rebels stepping up attacks on targets in Saudi Arabia.
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Offline RE

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Re: 🛢️ Oil Resource Wars
« Reply #23 on: September 16, 2019, 07:35:41 AM »
This could really be an interesting and potentially profitable event for American producers, right?

First, we have OPEC cutting back production because the US has plugged in a new 5+ million barrels a day over the last half decade or so, and without the ability to control free market oil supply, OPEC can only cut back there own to maintain prices.

So they do this...keeping the market near a $50-$60 window...and suddenly now we've got an attack on production that will decrease it, causing the expected price increase, and presto! Suddenly, the companies in the US that have been hanging on by their fingernails get a windfall, allowing them to stave off possible bankruptcy in the near term, maybe even continuing to grow production, and when the Saudi's get ready to come back online at full production? It isn't needed! Between decreasing demand, the US doing its best to span the gap, and presto! Now we've got the Saudi's production constrained because they aren't willing to crash the price.

It is like the dynamics of 1986, except the Saudi's this time have to try and stomp out American industry and the shale revolution.

Definitely the shot in the arm that the high EROEI producers needed.  However, it still only impacts around 5% of the current global supply.  The glut remains due to falling demand, or rather "less than expected" growth.

RE
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Offline BuddyJ

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Re: 🛢️ Oil Resource Wars
« Reply #24 on: September 16, 2019, 08:13:58 AM »
This could really be an interesting and potentially profitable event for American producers, right?

First, we have OPEC cutting back production because the US has plugged in a new 5+ million barrels a day over the last half decade or so, and without the ability to control free market oil supply, OPEC can only cut back there own to maintain prices.

So they do this...keeping the market near a $50-$60 window...and suddenly now we've got an attack on production that will decrease it, causing the expected price increase, and presto! Suddenly, the companies in the US that have been hanging on by their fingernails get a windfall, allowing them to stave off possible bankruptcy in the near term, maybe even continuing to grow production, and when the Saudi's get ready to come back online at full production? It isn't needed! Between decreasing demand, the US doing its best to span the gap, and presto! Now we've got the Saudi's production constrained because they aren't willing to crash the price.

It is like the dynamics of 1986, except the Saudi's this time have to try and stomp out American industry and the shale revolution.

Definitely the shot in the arm that the high EROEI producers needed.

And even better than that, a direct cash infusion to the corporate bank accounts!

I'm betting it won't go on all that long though, unless the attacks can continue and combo of Saudi Arabia and America don't join forces to pound on the Iranians. THAT could be a long term screwed up mess. But if attacks stop, and no one bombs Iranians, I don't believe it will be much of a long term thing.

Quote from: RE

 However, it still only impacts around 5% of the current global supply.  The glut remains due to falling demand, or rather "less than expected" growth.

RE

Peak demand is expected to be within the decade, but I've got no objection to it arriving sooner rather than later.

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Re: 🛢️ Oil Resource Wars
« Reply #25 on: September 16, 2019, 08:46:16 AM »
I'm betting it won't go on all that long though, unless the attacks can continue and combo of Saudi Arabia and America don't join forces to pound on the Iranians. THAT could be a long term screwed up mess. But if attacks stop, and no one bombs Iranians, I don't believe it will be much of a long term thing.

You forgot a couple of Major Players at the poker table.

If indeed the FSoA teamed up with the Saudis to bomb Iran back to the Stone Age, you won't see the Ruskies or Chinese sitting on the sidelines for that one.

There is your scenario for WWIII and Global Thermonuclear War.

RE
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https://www.bloomberg.com/opinion/articles/2019-09-16/donald-trump-is-boxed-in-by-saudi-drone-attacks

The president’s inconsistency on Iran and his ties to the Saudis don’t bode well for how he will handle a monumental foreign policy challenge. 
By Timothy L. O'Brien
September 16, 2019, 3:00 AM AKDT


Family ties.  Photographer: Mandel Ngan/AFP

Timothy L. O’Brien is the executive editor of Bloomberg Opinion. He has been an editor and writer for the New York Times, the Wall Street Journal, HuffPost and Talk magazine. His books include “TrumpNation: The Art of Being The Donald.”

A small squadron of drones — and possibly cruise missiles — penetrated Saudi Arabia’s air defenses on Saturday, laying waste to a significant, valuable portion of two of the world’s most essential oil processing facilities. Amid worries about the impact of the strikes on global oil markets (half the kingdom’s oil output was affected) and fears about broader military confrontations upending a region perennially vexed by crossed swords, ancient religious rifts, geopolitical maneuvering and greed, facts and conjecture began jockeying for attention.

Houthi rebels fighting the Saudis in a brutal civil war in Yemen took credit for the strikes. Iran backs the Houthis, and U.S. Secretary of State Mike Pompeo took to Twitter on Saturday afternoon to blame Iran for “an unprecedented attack on the world’s energy supply” and to assert that there “is no evidence the attacks came from Yemen.” Pompeo didn’t specify where the strikes actually originated. The Saudis, backed by the U.S. in Yemen, have yet to pin the strikes on Iran, while the Iranians themselves deny any involvement. On Sunday, the U.S government produced photos that officials said indicated that the drones had to have flown into Saudi Arabia from Iraq or Iran. Iraq denies being involved.

Not everyone is telling the truth here (although everyone might think they are) and any prudent response to the attacks hinges on more factual certainty. Patience and foresight are diplomatic virtues in moments like this, even if the correct response ultimately involves more severe economic sanctions on Iran or military actions designed to rein in its rulers.

Like any U.S. president, Donald Trump could play a clarifying role and use the power and prestige of his office to bring a sense of order to what is a dangerous dynamic in the Arab world right now. It’s possible that the next few days will build toward the most momentous foreign policy challenge Trump will experience. But we’ve also arrived here precisely because of Trump’s own haphazard and conflicted approach to regimes he claims he wants to upend. Someone who has presided over the most chaotic White House of modern times is unlikely to navigate this complicated crisis with the necessary deftness.

The White House issued a statement Saturday confirming that Trump had phoned Saudi Crown Prince Mohammed bin Salman to offer support for the country and oil markets. The president then filled his communication platform of choice, Twitter, with an array of attacks on the media, praise for Supreme Court Justice Brett Kavanaugh, promos for events meant to support black colleges, and a reminder that the “USA is Winning Again!”

At about 6 p.m. Sunday, Trump tweeted that he planned to release inventories from the U.S. Strategic Petroleum Reserve to help stabilize oil markets. About an hour later, he weighed in again on behalf of the Saudis.

“Saudi Arabia oil supply was attacked,” he tweeted. “There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!”

In a flash, and most likely without consulting anyone else on his White House team, Trump indicated he was willing to put the U.S. military at the disposal of the Saudis and that he’d come out, guns blazing, whenever the Saudis thought the time was right.

Shortly after that, he noted that there was “PLENTY OF OIL!” and that no one should think that he stumbled in his own dealings with the Iranians — that perhaps the Iranians saw him softening and took advantage of him.

“The Fake News is saying that I am willing to meet with Iran, ‘No Conditions.’ That is an incorrect statement (as usual!),” he tweeted just after 7 p.m.

The problem with that one is that Trump did, in fact, say in June that he’d be willing to take a meeting with Iran with “no preconditions.” And several days ago Trump said he’d be willing to meet with Iranian President Hassan Rouhani at the upcoming United Nations General Assembly meeting in New York.

Did any of that diplomatic signaling ( including the departure of Trump’s hawkish national security adviser John Bolton) coax the Iranians into a more aggressive stance, convincing them to try to disable a crucial oil field controlled by its most powerful foe in the Arab world at a time when that foe was moving toward a public offering of shares in its national oil company, Saudi Aramco? Who knows.

What probably hasn’t been lost on Iran is that Trump has postured and blustered about his willingness to use military force to corral countries he considers hostile to the U.S., but then fails to follow through. In June, Trump ordered a military strike on Iran, only to call it off at the last minute.

This isn’t new behavior from the president. He spent parts of his business life threatening to vanquish competitors or run circles around them when he was “artofthedealmaking,” only to find himself outmaneuvered or unable to deliver on his warnings (often to his own financial and reputational detriment).

The president has likewise boxed himself in with the Saudis. In addition to turning a blind eye to the kingdom’s own military atrocities in Yemen, and to countenancing the murder of the Saudi journalist and dissident Jamal Khashoggi, Trump and his family have myriad financial conflicts of interest involving Saudi money. Trump has left himself little room to find diplomatic solutions that don’t meet the Saudis’ needs first, while he continues to blur the line between serving the U.S. national interest and his own self-interest.

And one of the most harrowing aspects of Trump’s presidency — that an inexperienced self-promoter utterly ignorant about much of the world and lacking any real interest in international affairs had assumed power over the mightiest military force on the planet — is now in full relief in the wake of the drone strikes in Saudi Arabia.

Character is at play here, too. There’s a presidential election coming and with it the danger that Trump will find military confrontations overseas useful avenues for a political boost. That would suggest he may not be making completely sober-minded decisions.

Perhaps the president will rise to the occasion this week, despite the forces he helped set in motion and which are now pulling him in multiple directions. But don’t hold your breath.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Timothy L. O'Brien at tobrien46@bloomberg.net


The chances of the U.S. easing sanctions fell to zero after the secretary of state blamed Tehran for the attack on Saudi Arabia’s Abqaiq facility.
By Julian Lee
September 15, 2019, 4:45 AM AKDT
Who’s to blame?


The chances of President Donald Trump easing sanctions on Iran’s oil exports have dropped to zero after an attack on Saudi Arabia’s oil industry that his Secretary of State Mike Pompeo has pinned on Tehran. The bigger challenge now will be reining in the U.S. hawks calling for retaliatory strikes on Iran’s energy industry facilities.

Before this weekend the big political news dominating the oil market was the sudden departure of John Bolton as Trump’s hardline national security adviser. His leaving raised hopes (or fears, depending on your point of view) that waivers from sanctions might be reinstated for some buyers of Iranian crude; there was talk even of Trump meeting with Iran’s President Hassan Rouhani later this month.

I’m deeply skeptical about whether such a diplomatic breakthrough would have taken place without Trump reopening Barack Obama’s nuclear deal with Iran, which the current president scrapped last year. I can’t believe Trump would have been willing to do that. The drone strike on Saudi Arabia’s Abqaiq oil processing facility in the early hours of Saturday morning makes such speculation irrelevant anyway.

Pompeo appears to have taken on Bolton’s mantle of White House ultra-hawk. He blamed Iran for the attack in a Saturday tweet, even though responsibility has been claimed by the Houthi rebels being bombed savagely by a Saudi-led coalition in neighboring Yemen. They have plenty of incentive to retaliate.

The secretary of state went further than linking Tehran to the attack through its training and support of the Houthis, who are part of a network of militant groups in the Middle East allied with Iran. “There is no evidence the attacks came from Yemen,” Pompeo said in his tweet. He’s yet to share any evidence that it came from Iran either.

It would be better if he did. Memories of the “evidence” of Saddam Hussein’s non-existent weapons of mass destruction that precipitated the 2003 invasion of Iraq still linger. It’s a big step to say the attacks came from Iran. An earlier strike against Saudi Arabia’s East-West pipeline was deemed eventually to have been launched by Houthis operating from the sparsely-populated territory of south-western Iraq, although Iraq has denied that its territory was used for the new attack.

Saudi Arabia started its devastating bombing campaign in Yemen in 2015 – with some U.S. backing and weaponry – after the Houthis took control of the capital and other parts of the country. Despite thousands of civilian deaths, terrible human rights abuses on both sides and a humanitarian catastrophe, the war has settled into an ugly stalemate. Saturday’s attack, along with previous drone strikes, shows the Houthis’ effectiveness in inflicting damage well beyond Yemen (if indeed it was them).

Not surprisingly, Iran’s foreign ministry has denied responsibility. It now needs to go further and try to rein in its clients in Yemen. For its part, the U.S. should do the same in Saudi Arabia. Failure to do so will only lead to more attacks on the region’s oil infrastructure and more costly disruptions to supply.

The Saudis will need weeks to restore full production capacity, according to my Bloomberg News colleagues Anthony DiPaola and Javier Blas. Other members of the OPEC+ group, who have been restricting output to boost oil prices since the start of 2017, will open their taps. But more than 85% of the OPEC production cut since January has come from Saudi Arabia itself. The available spare capacity is a lot less than it might appear at first sight.

Riyadh was no doubt fearful that any rapprochement between Trump and Rouhani would have led to millions of barrels of Iranian oil gushing back onto the market, thereby scuppering the Saudi effort to support the crude price. The Abqaiq attack, and Pompeo’s response, shows there is no chance of that now. But the vulnerability of Aramco’s own installation to such strikes has created an infinitely worse problem.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Julian Lee at jlee1627@bloomberg.net
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Offline BuddyJ

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Re: 🛢️ Oil Resource Wars
« Reply #27 on: September 16, 2019, 01:20:47 PM »
I'm betting it won't go on all that long though, unless the attacks can continue and combo of Saudi Arabia and America don't join forces to pound on the Iranians. THAT could be a long term screwed up mess. But if attacks stop, and no one bombs Iranians, I don't believe it will be much of a long term thing.

You forgot a couple of Major Players at the poker table.

If indeed the FSoA teamed up with the Saudis to bomb Iran back to the Stone Age, you won't see the Ruskies or Chinese sitting on the sidelines for that one.

Maybe. Then again, both of them combined are not capable of power projection at the scale that the US alone can manage in that area. Let alone mount enough of a defense of Iran fast enough to stop any American attack.

Sure, both can nuke things, but they won't. And we are only talking about Iran, Russia certainly has no oil import worries (unlike China), and China can afford to buy what they need on the open market. Other than the global cred they get joining sides against the big, bad US, there isn't much upside for them at all. Plenty of downside as well, remember those poor Russia mercs who went against some US spec ops in the Syria desert? That went so badly that Russia refuses to even admit they were theirs.

Quote from: RE
There is your scenario for WWIII and Global Thermonuclear War.

RE

A high impact event for sure. But extremely low probability.

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Re: 🛢️ Oil Resource Wars
« Reply #28 on: September 16, 2019, 03:32:02 PM »
I'm betting it won't go on all that long though, unless the attacks can continue and combo of Saudi Arabia and America don't join forces to pound on the Iranians. THAT could be a long term screwed up mess. But if attacks stop, and no one bombs Iranians, I don't believe it will be much of a long term thing.

You forgot a couple of Major Players at the poker table.

If indeed the FSoA teamed up with the Saudis to bomb Iran back to the Stone Age, you won't see the Ruskies or Chinese sitting on the sidelines for that one.
RE

To fully understand, you have to consult the MSM, then move off the MSM crackpipe to get a fuller perspective for what is going on.
To your point, the Saker moved this recently:

Russia prevents Israeli airstrikes in Syria
3144 ViewsSeptember 14, 2019 4 Comments
The Jerusalem Post reports:

The controversy between Israel and Russia regarding airstrikes of Iranian targets in Syria and Iraq continues, despite the meeting Between Prime Minister Benjamin Netanyahu and Russian President Vladimir Putin. This was reported on Friday by Independent Arabia.

According to the report, Moscow has prevented three Israeli air strikes on three Syrian outposts recently, and even threatened that any jets attempting such a thing would be shot down, either by Russian jets or by the S-400 anti-aircraft missiles. The source cited in the report claims a similar situation has happened twice – and that during August, Moscow stopped an air strike on a Syrian outpost in Qasioun, where a S-300 missile battery is placed.

Moreover, it was claimed that another air strike was planned for a week later on a Syrian outpost in the Qunaitra area and a third one on a sensitive area in Latakia. This development is what pushed Netanyahu to have his quick visit in Russia to try and convince Putin to ignore Israel’s attacks in Syria. According to the Russian source, Putin let Netanyahu know that his country will not allow any damage to be done to the Syrian regime’s army, or any of the weapons being given to it, because giving such a permission would be seen as giving Israel leniency – something that contradicts Russia’s goal of assisting the Syrian regime.

The British-Arabic news outlet reported that Netanyahu tried to present a positive message of the cooperation between the two countries and even tried to use it for his election campaign, but it didn’t work. Israeli sources who have spoken with the newspaper called the meeting “a failure.” They claimed that everything regarding the air strikes in Iraq and Syria, since they were in the public eye, embarrassed the Russians terribly in the eyes of their allies in the area – Syria, Iran and the militias that support them.

The Russian source said: “Putin has expressed his dissatisfaction from Israel’s latest actions in Lebanon,” and even emphasized to Netanyahu that he “rejects the aggression towards Lebanon’s sovereignty,” something which had never been heard from him. Putin further stated that someone is cheating him in regards to Syria and Lebanon, and that he will not let it go without a response. According to him, Netanyahu was warned not to strike such targets in the future.

The news website added that more Israeli sources have said similar things on the subject and that the visit was meant to reduce the severity of the controversy between the countries into a tactical one, rather than an ideological one.
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

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🛢️ Impact of Yemeni Attack on Saudi ARAMCO Oil Facilities
« Reply #29 on: September 17, 2019, 09:27:45 AM »
https://www.globalresearch.ca/impact-yemeni-attack-saudi-aramco-oil-facilities/5689430

Impact of Yemeni Attack on Saudi ARAMCO Oil Facilities
An interview with PressTV
By Peter Koenig and Press TV
Global Research, September 17, 2019
Region: Middle East & North Africa
Theme: Oil and Energy, US NATO War Agenda

Background

Saudi Arabia says the recent drone attacks on the state-run oil company Aramco, led to a temporary closure of its facilities and disrupted the kingdom’s oil production and exports.

“[Saudi] Energy Minister, Abdulaziz bin Salman said the attacks led to the interruption in production of an estimated five-point-seven million barrels of crude per day. The amount is equivalent to five percent of the daily global supply of crude oil. Meanwhile, Crown Prince, Mohammad bin Salman, said his country is willing and able to deal with Saturday’s drone strikes. Also, the U-S secretary of state has accused Iran of being behind the recent attacks. Mike Pompeo claimed there is no evidence to prove that the attacks were launched from Yemen. He was actually adamant about blaming Iran for the attack, without any shred of proof. This is while Yemen’s Ansarullah movement [the Houthis] has claimed responsibility for the drone strikes.”

Saudi stocks dropped dramatically following drone strikes on two Aramco facilities by Yemeni forces; an attack that halved the kingdom’s crude production.

Saudi shares have dropped three percent after Yemeni drone attacks on two major state-run Aramco oil facilities knocked out more than half the kingdom’s production.

Saudi Energy Minister, Abdulaziz bin Salman said the attacks led to the interruption in production of an estimated five-point-seven million barrels of crude per day. The amount is equivalent to five percent of the daily global supply of crude oil. Yemeni forces launched the massive drone attack in response to the Saudi-led coalition war that has lasted for more than 4 years on the impoverished nation on Saturday.

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PressTV: Could you please comment on the consequence of this reduction in the oil supply by Saudi Arabia?

Peter Koenig: First, lets make one thing crystal clear – Mr. Pompeo is a flagrant liar, has been in the past with everything he says against his own fabricated enemies, and he will very unlikely change, as the type of his hawkish aggressive warrior character will not change. Therefore, everything Pompeo says and pretends which such assurance that most people realize it’s a fabricated lie as he did not – and never does – provide any evidence. Therefore, whatever he says and pretends to be the truth without evidence, has to be taken with more than a grain of salt.
Trump Exploits Drone Attacks on Saudi Oil Facilities to Threaten War Against Iran

In fact, immediately blaming Iran for the drone attack on ARAMCO, is without any foundation; it is an outright lie, just to put more dirt on Iran, to further denigrate Iran. It is very clear to me – who have worked for 7 years in Yemen – that the Houthis have the capacity to develop their own drones – they have a flying range potential of at least 1,000 km.

It is very simple and very logical, the Houthis are gradually getting their strength back and are revenging themselves for the horrendous aggression launched for more than 4 year by the Saudis against their country – of course, with staunch support from the US, UK and the French.

Let’s just remind ourselves, that inhuman abhorrent aggression has cost tens of thousands of Yemeni lives – most of them children, women and the elderly and weak – from direct bomb attacks, from famine, and from cholera and other sanitation related diseases. Today still a million people are at risk of a cholera epidemic.

Having said this – the consequences or impact of a 5% oil output reduction due to the burning ARAMCO wells is insignificant. Of course, speculators – the Godman Sachs type, who are the chief manipulators behind oil prices – would like you to believe that this is ample ground for hefty fuel price increases – in reality not at all.

Of course, in our predatory capitalist world, the stock market wheelers and dealers, may try to cash-in on this event – which in reality has – or should have – zero impact on the world oil supply.

This shortfall could easily be made up by lifting sanctions o Iranian and Venezuelan oil sales… so it’s just a question of logics – and foremost – of justice, international law and Human Rights.

PressTV: What about the fragility of the Saudis military power?

PK: Of course, the Saudi military power is nothing without the full support and guidance, by weapons and technical and strategic advice directly from the Pentagon, CIA – and the European vassals, and – of course – from weapon manufacturers and weapon sales sharks, in the UK and in France.

The Saudis from day one – in October 2015 – were just launching a proxy war for the US against Yemen – Yemen has a key strategic location in the Gulf and Middle East, and also off-shore deep hydrocarbon deposits – and god forbid, may not be ruled by a people-friendly – a socialist leaning government. For the last 50-some years Yemen was ruled by a US puppet, or puppets – which was OK for the US, but once people get tired of injustice and corruption, they decided to dispose their nefarious regime and replace it with the popular Houthi movement.

When the Saudis agreed in the early 1970’s as head of OPEC and on behalf of OPEC, to sell crude only in US-dollars, the US Administration offered them in turn – “forever” military protection, in the form of multiple military bases in the Saudi territories. Without this protection, the Saudis would not have survived as long as they did with their horrendous discriminatory and corrupt government and, of course, without that protection, OPEC may not have stuck to the “dollar-only” rule to trade hydrocarbons. – We might be in another world today – but, we really don’t know how dynamics might have worked out.

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Peter Koenig is an economist and geopolitical analyst. He is also a water resources and environmental specialist. He worked for over 30 years with the World Bank and the World Health Organization around the world in the fields of environment and water. He lectures at universities in the US, Europe and South America. He writes regularly for Global Research; ICH; RT; Sputnik; PressTV; The 21st Century; Greanville Post; TeleSUR; The Saker Blog, the New Eastern Outlook (NEO); and other internet sites. He is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed – fiction based on facts and on 30 years of World Bank experience around the globe. He is also a co-author of The World Order and Revolution! – Essays from the Resistance. He is a Research Associate of the Centre for Research on Globalization.
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