For a few years now, I’ve felt Saudi’s oil options were getting more narrow. They recently finished a ‘near off-shore’ facility...which made me wonder, why are the Saudis drilling for the ‘hard to get’ oil, when they have so much shallow oil? I think the answer must be that their existing fields are declining in production.
So no more 1950’s technology and ultra cheap extraction costs....and the price gap between Saudi oil and oil produced elsewhere gets smaller.
So, their problems get even worse...and the only thing that holds the ‘kingdom’ together is buying off the populace. It could get real ugly. And now there is always fracking in the background. Unless we self impose some environmental nonsense, the Saudi’s will never again be able to ‘kill off’ the US oil industry - so they get no reward whatsoever when prices drop...just the hurt.
Oh, and a certain idiot just released hundreds of billions of dollars in frozen Iranian assets. Its almost like we’re trying to establish Iran as the new leader in the middle east.
Swami says: war will continue in the region.
“Swami says: war will continue in the region.”
The region has been at war for 13 centuries. The twentieth century, because of the west and the destruction of the Ottoman empire, was probably the calmest and safest for over a thousand years. The world, and even Muslims, will not be truly safe until Islam has been wiped off the face of the Earth. (I’d guess that half the people killed by Muslims were other Muslims they disagreed with.)