BREAKING NEWS: State media say Egypt has agreed to let 2 Iran navy ships through Suez Canal

MSNBC ^ | February 18, 2011 | MSNBC

[Hawk720]

Headline only.

[Alberta's Child]

Very good point about Middle Eastern oil, but it's a bit more complicated than that. Oil is not a homogenuous commodity, but is extracted and refined in different grades for different uses depending on the quality of the raw crude oil. My understanding is that crude oil from Saudi Arabia is particularly important because it's easy to extract and is best suited for refining into gasoline.

A lot of Canadian oil, on the other hand, comes from tar sands and is difficult/expensive to extract and refine. I may be wrong about this, but I imagine very little Canadian oil ends up as gasoline. It's probably best suited for things like lubricants and plastics.

I've copied thackney on this post because he's probably forgotten more about the energy sector than I'll ever know. I'd be curious to get his input on what I've just posted here. LOL.

[jhpigott]

This article suggests the Iranian ships will beging their passage thru the Suez in about 7 hours

“CAIRO | Fri Feb 18, 2011 3:03pm EST

...”Egypt has agreed to the passage of two Iranian ships through the Suez Canal,” the army source told Reuters.

...The Suez Canal Authority had yet to receive approval, a canal official said, adding that the next convoy from south to north would be at 6:00 a.m. (0400 GMT).”

http://www.reuters.com/article/2011/02/18/us-egypt-iran-approval-idUSTRE71H4MV20110218?feedType=RSS&feedName=Iran&virtualBrandChannel=10209&WT.tsrc=Social%20Media&WT.z_smid=twtr-reuters_iran&WT.z_smid_dest=Twitter

[Brad’s Gramma]

I stand with Israel.

Add me to the list...

[no-to-illegals]

God of Abraham know I stand with Israel. Thy Will Lord, not mine, be done.

[Alberta's Child]

That’s very interesting. I knew there was some kind of plan to build a second canal elsewhere in Central America, but I wasn’t aware that someone seriously considered using nuclear explosives. What the hell were they thinking? LOL.

[LibLieSlayer]

You have been on that list as long as I have!!!

LLS

[thackney]

I may be wrong about this, but I imagine very little Canadian oil ends up as gasoline.

Sorry, but you are wrong. Essentially all of the Canadian feedstocks are used to make gasoline and diesel in US refineries.

The bitumen that is produced from the oil sands is typically first run through an upgrader before reaching a refinery. This adds cost but the lower price for bitumen offsets this making it a desirable feedstock.

http://www.oilsandsdiscovery.com/oil_sands_story/upgrade.html

Saudi Arabia typically provides a lighter grade of crude oil. However, all the crude produced in Saudi Arabia—except for that of the offshore Safaniya Field in the Persian Gulf—is "sour." This sulfur content requires removal in the refinery and also adds cost, but not as much as an upgrader.

http://www.saudiaramcoworld.com/issue/196001/sweetening.up.the.crude.htm

[Brad’s Gramma]

Thy Will Lord, not mine, be done.

Again....yes....

[apoliticalone]

The BS about oil is that we as the USA will never be energy independent or oil independent like the politicians try and paint it.

If we drill in every sq foot of the USA and find a trillion barrels it will provide oil for the global energy companies and the global market, but it will never be dedicated to the USA as it once was.

It will be sold by the international companies to the highest bidder. Such a find might strengthen the dollar and lower oil costs to all and reduce our trade deficit, but I’m not even sure about the trade deficit because of the way such payments are directed to international corporations and not to the USA.

Oil or even gas now goes to a global market where it is sold to the highest bidder. It is about globalism not sovereignty today.

[Alberta's Child]

Well, there you go . . . I knew I pinged the right Freeper on that post. LOL.

I stand corrected!

[Mariner]

This is NOT NEWS.

The International Suez Canal Treaty assures free access to all flags...commercial and warship...in peace AND war.

Of course the Egyptians will allow any vessel of any flag.

[Mariner]

"This smells like a massive resupply for Hezbollah and because it’s an Iranian Navy vessel and not an Iranian flagged commercial vessel, boarding the vessel for inspection is, well, tricky."

It's certain they'll pass through the canal unopposed. Once they reach the Med I would not be surprised if one, or both, are sunk in the night by an unknown explosion.

[Navy Patriot]

Did Afghanistan and Iraq move out of the Middle East? I must've missed a memo.

You certainly did. Much as I detest the fact, Afghanistan will remain outside Islamic terrorist control for about two months after we leave, and leave we will. Iraq will last a little longer, but Jordan will go "democratic" soon too. Turkey is gone now, and will get worse. Iraq will be lonely.

I say let them war with one another so long as our forces are kept safely out of it.

I agree, (as you point out, I'm an antisemitic Arab hater) but I have to point out that the Iran-Iraq war didn't work out so well for us. The US had a similar opportunity in WWII to let Germany and Russia weaken each other and cut American losses. With a Democrat President friendly to communists we didn't. We now have a Democrat President who is friendly to socialists and Muslims.

If Israel attacks these ships without provocation in int'l waters like it did the USS Liberty decades ago, Israel deserves the response it provokes.

I happened to be on active duty and was informed and aware of the attack within hours of it's occurrence. It was inexcusable, criminally neglegient, and a preponderance of evidence indicates an initial misidentification. The consequences to the Israelis involved were entirely to little, and the treatment of Captain McGonagle and other crew members was reprehensible.

Regardless, there is no legitimate analogy between the USS Liberty and a Iranian warship.

Saudi Arabia represents only 13% of imported oil, about half what Canada provides. It's not insignificant, sure, but worth keeping perspective on how "little" their oil means to the United States.

True, but you are forgetting Iranian oil, which is a major supply to Europe. It will go away too, and Canada will be asked to supply Europe so they don't have to pay Russian prices. The Russians will do to oil what they did with natural gas, and smile while doing it. Overall the US is likely to lose over 40% of our oil needs.

Idiots thump their chests over the "foreign oil" as code for anti-Semitic hatred of Arabs in the Middle East without realizing how little American really depends upon oil from that part of the world.

I'm no idiot, I just notice things, and I am aware of how much we need Saudi oil, and how much America has done for the Semitic peoples of the Middle East. As far as hater, you can call me anything you want, but I'll just keep noticing things like the fact that Standard Oil owned the Saudi oil, the Royals sold it to 'em and were paid in full.

Eisenhower and Truman were the guys that prevailed on 'em to give it back, after all, the oil belonged to the people, not the Royals.

I also notice that the Saudis, after America's magnanimous gesture, routinely manipulated price and production and funded every Islamic fundamentalist movement and most Islamic terrorist organizations that are destroying western culture at this very moment, while leaving their people in poverty all across the Middle East.

[Fedupwithit]

OK, you owe me new keyboard, for the coffee I snarfed out of my nose and onto it when I read your post!! : )

[sappy]

I need a bailout for that. You don’t expect me to pay for that myself do you? Sarc/. Shamwow