Saturdayâ€™s attack on a critical Saudi oil facility will almost certainly rock the world energy market in the short term, but it also carries disturbing long-term implications.
Ever since the dual 1970s oil crises, energy security officials have fretted about a deliberate strike on one of the critical choke points of energy production and transport. Sea lanes such as the Strait of Hormuz usually feature in such speculation. The facility in question at Abqaiq is perhaps more critical and vulnerable. The Wall Street Journal reported that five million barrels a day of output, or some 5% of world supply, would be taken offline as a result.
To illustrate the importance of Abqaiq in the oil marketâ€™s consciousness, an unsuccessful terrorist attack in 2006 using explosive-laden vehicles sent oil prices more than $2.00 a barrel higher. Saudi Arabia is known to spend billions of dollars annually protecting...
I bet that Iran is ready to make up any short falls in world oil supplyâť—
ABC.net.au wrote: Key points:
â€˘Drones attacked Saudi oil plants on Saturday, starting huge fires and slashing production by half â€˘Yemen's Tehran-backed Houthi rebels claimed responsibility, but the US blames Iran â€˘Asian oil prices rose by 10 per cent on Monday .... "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!" Mr Trump tweeted....
excerpt from, "Donald Trump says US is 'locked and loaded' to hit back after drone attacks on Saudi Arabian oil plants"
Many ways to look at this. 1. most Americans have no idea why the attack occurred, major news networks have not covered the war in the area. 2. shows you the importance of fracking for American energy independence. Every day every American who uses natural gas for heating their water, cooking, or heating their homes in the winter need to give thanks to God for the frackers, since it was those guys who discovered so much gas that it dropped the prices tremendously. Even in Florida they can give thanks to God for fracking because their public pools are heated in the winter now, thanks to the low price of natural gas. And what is ironic is that the frackers were not looking for gas but oil! Gas is only a byproduct. There is so much natural gas out there that companies have spent millions of dollars to build plants (one in Maryland, not far from Annapolis, and one in Louisiana) to freeze the gas so it becomes liquid and can be transported by ship (don't ask how much each ship costs)to other countries.
The Houthis supported by Iran and their war with Soudi has the potential to affect the world. No surprise there. Of course this will be one of the ways which Iran will strike and fight back at the west because of the sanctions by western nations.
Iran's nuclear ambitions in this equation is relevant to discussion and therefore a dangerous possibility in today's world and foreign politics.
This is a precarious set of circumstances and could continue to take certain nations in a direction nobody but the terrorists would want us to go.
Many terrorist organisations will see the potential in this kind of attack and the outcome it might create for their belligerent ideologies. Iran and its friends may see this as a method of defence and ultimately offence with its position in the world and its ambitions in the Middle East which can have adverse effects on other parts of the world today.
A fragile situation in foreign policies for the nations.
https://www.jpost.com/printarticle.aspx?id=601683 (Saudi-Iran careen toward potential conflict, U.S. blames Iran for attack)
I'm happy to say, I was able to read the original WSJ article in its entirety. I bet if I tried it a second time though it wouldn't happen. I also noticed WSJ had a similar article to the one above that I didn't even try to read. Anyway give SermonAudio article a shot, since you may be able to read the entire thing, and it is a good article.