Posted on 09/16/2019 6:06:10 AM PDT by Enlightened1
Drone attacks on two critical production facilities in Saudi Arabia wiped out over 5% of the world’s oil supply in one go, eliminating the spare capacity of the entire globe.
The attacks, which targeted an oil processing facility at Abqaiq and the nearby Khurais oil field knocked out 5.7 million barrels of daily crude production, a whopping 50% of Saudi Arabia’s entire oil output.
“This incident effectively eliminates the world’s spare capacity,” said Sarah Cottle, global head of market insight at S&P Global Platts.
The attacks led at one point to oil prices spiking by 19%, the biggest leap since 1991.
Despite Houthi rebels fighting Saudi forces in Yemen taking credit, The Trump administration immediately indicated that it may be about to blame Iran.
“Saudi Arabia oil supply was attacked. 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!” tweeted President Trump.
The irony of military action against Iran at this point is the fact that Trump just fired one oft he biggest cheerleaders for precisely that, John Bolton.
War with Iran could be potentially catastrophic for the world and would see Trump reverse yet another of his campaign promises, the vow to not get entangled in any more Middle Eastern quagmires.
(Excerpt) Read more at summit.news ...
I have read an article which stated the strikes were a combination cruise missiles and drones.
What has not been addressed in this article or any article that I have read is:
1. What about Saudi Arabia's air defense system? They own the best air defense system in the Arab world...including Patriot, Hawk, and F-15SA.
Were the systems turned off? Were they on but ineffective?
2. Why weren't the cruise missile launches detected?
Islam like Iran has crazy economics.
If the burger restaurant across the street sells better burgers, just smash the building with a sledge hammer.
Drill. Drill. Drill. Frack. Frack. Frack.
American self-sufficiency is key.
Just as get all manufacturing back home.
—
Yes, yes, yes.
This will be fixed in a few days, or at worst in a couple of weeks. There’s too much money at stake for the Saudis and their foreign partners to not do that.
But Paul Joseph Watson is an idiot - you didn’t just have 5% of the world’s oil evaporate into thin air. It is still there, it’ll just get sucked out of the ground and find its way to consumers in a usable for a bit more slowly, and that for (again) only a matter of days or a couple of weeks.
Alarmist idiot - or, possibly, he’s long oil futures.
Let me guess - another stern warning to iran???
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