Posted on 11/20/2015 4:50:21 AM PST by thackney
United Arab Emiratesâ energy minister said on Wednesday he did not regret last yearâs OPEC decision not to cut the production ceiling in the face of falling prices.
âI am sure that the decision was right and I am confident that the market will stabilise,â Suhail al-Mazrouei said at an industry conference in Dubai.
âWe are not regretting the decision we took, we had no option,â he said. âYes itâs painful for many producers around the world and we share that pain, but it doesnât mean that we need to do something that is not sustainable.â
The Organization of Petroleum Exporting Countries (OPEC) made a historic policy shift last November, led by Saudi Arabia and supported by its Gulf allies, by refusing to cut production to prop up prices in a bid to defend market share. The group reconfirmed the strategy at a meeting in June.
But Mazrouei said the decision not to cut production quotas was not just about defending market share.
(Excerpt) Read more at english.alarabiya.net ...
United Arab Emirates’ energy minister said on Wednesday he did not regret last year’s OPEC decision not to cut the production ceiling in the face of falling prices.
“I am sure that the decision was right and I am confident that the market will stabilise,” Suhail al-Mazrouei said at an industry conference in Dubai.
“We are not regretting the decision we took, we had no option,” he said. “Yes it’s painful for many producers around the world and we share that pain, but it doesn’t mean that we need to do something that is not sustainable.”
The Organization of Petroleum Exporting Countries (OPEC) made a historic policy shift last November, led by Saudi Arabia and supported by its Gulf allies, by refusing to cut production to prop up prices in a bid to defend market share. The group reconfirmed the strategy at a meeting in June.
But Mazrouei said the decision not to cut production quotas was not just about defending market share.
BS no content speech.
They are doing this to hold Iran in check and to some degree to limit US production via fracking. Everybody knows that this can not last forever. The price of oil will go up. When it hits $60/65 USD per barrel the US fracking and Canadian tar sands comes back on line, oil stabilizes and gas prices in the US will be about $2.50 a gallon. Russia, Iran and Venezuela need oil well over $100/barrel to break even.
"But Mazrouei said the decision not to cut production quotas was not just about defending market share."
Perhaps this is stretching it ~ but also consider the following two articles which may suggest the 'other' factor/reason for Mazrouei's confidence in his decision 'not' to cut production quotas ~ the OIC is coordinating and funding the migration (hijrah).
First, from the blog "Gates of Vienna", theBaron asks the following questions:
After digesting a lot of information about the ârefugeeâ crisis over the past four months, these are a few of the facts/deductions that seem important, but not often discussed:
*****
Next, Bizzyblog connects some more dots which may relate to the GatesofVienna article above ... suggesting that selection and vetting of migrants is delegated to UN and UN tied organizations linked to the Muslim Brotherhood operating under Saudi guidance/funding:
Who picks the Syrian refugees that resettle in the U.S.? Homeland Security? No, the United Nations, in concert with a global Islamist group. And they're sending "more than 15,000," not the widely reported 10,000.
In fact, Washington has no role in selecting the thousands of Syrian refugees coming to your hometown. The U.N. High Commissioner for Refugees is really behind the effort, and he's referred an additional 5,000-plus Syrian nationals here.
"As of mid-2015, UNHCR has referred more than 15,000 Syrian refugees to the United States," the 71-page (State Department) report adds. "And these individuals are being screened to determine whether they are eligible."
Of course, that security screening is a joke, as the FBI director and his top counterterrorism aide, as well as the Homeland Security and National Intelligence chiefs, have all testified.
Note that the State Department cited government organizations which IBD claims have described the screening process, in the vernacular, as "a joke."
It gets worse, because, as IBD revealed, the the entire enterprise appears to involve far more than incompetence:
That's not all. The UNHCR is working "hand in hand" with an international Islamist group of 57 Muslim nations ~ the Organization of Islamic Cooperation ~ whose founding charter seeks to propagate "legitimate jihad" and "the norms of Islamic Shariâah." Saudi-based OIC, in fact, is tied to the radical Muslim Brotherhood.
"We are delighted to work ⦠with the OIC," said U.N. High Commissioner for Refugees Antonio Guterres.
So it's really the U.N. and radical Islamists who are choosing your new Muslim neighbors.
While the U.N. calls its project "refugee resettlement," the Islamists call it "hijra," or immigration jihad.
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