Posted on 09/15/2019 8:22:42 AM PDT by SaxxonWoods
We are nearly disconnected from OPEC though.
https://edition.cnn.com/2019/06/10/business/oil-boom-production-opec/index.html
“What are you talking about? We produce about 10 million barrels a day and use 29 million.”
FAKE DATA!
Saudi Arabia is OPEC's largest oil producer, and goes to great lengths to limit its oil output so global oil prices are propped up. So in a bizarre irony, whoever put this refinery off-line actually did them a favor.
The attack an Abquiq is NOT the present day equivalent of the Japanese attack on Pearl Harbor. A better comparison would be if Japan attacked Pearl Harbor and sank a dozen U.S. warships while the U.S. Navy was ten miles away in the Pacific Ocean sinking a dozen more of our own ships at the same time.
“At 5% of the world market, it will be interesting to see how the market reacts.”
$100 per bbl by close of market Monday.
That is absolute drivel......total balderdash.
See my #17 for precise data from the US Government.
In 2018 we produced 11 million BBL per day.
And we consumed 20.5 million BBL per day.
Leaving a gap that would consume Saudi Arabia’s entire production of 10 million BBL per day.
That’s official US data. Argue it if you wish.
Yes, two thing in play, the immediate reaction and the prolonged one. The big questions are whether these attacks will continue and can they can be stopped.
?????
“The big questions are whether these attacks will continue and can they can be stopped.”
The total elimination of Iran and it’s proxies will reduce such attacks to near nothing.
The world is capable of such.
Well, thanks for such a well-reasoned reply. :-P
Saudi Officials Say Oil Production to Return to Normal Levels by Monday
Wall Street Journal Sept. 14, 2019 4:13 pm ET
http://www.freerepublic.com/focus/f-news/3778779/posts
The WSJ needs to decide which it is.
I was more diplomatic but you are right.
The other thing many don’t think about is the fact that 30% of all oil use is non-fuel in nature. The price of most everything goes up if oil prices go up.
Next time you are in a store, look at all the plastic (oil) used to package everything. Clothing, shoes, cell phones, computers, packaging, sports equipment, paint, literally thousands of items are made from oil that have nothing to do with fuel and the price of most everything goes up when oil prices go up.
military action is required by the saudis and we should destroy there Iranian navy and open up the waterways for their summer fun and frolic activities..
So they -- along with a bunch of like-minded hacks here on FR -- report a drone attack on a facility that is back in working order within 48 hours as "The Big One" and "the modern-day equivalent of Pearl Harbor."
Sorry for the bluntness.
we are part of an alliance opposing Iran. Refusing to recognize that fact is on the wrong sode of history
Who gives a sh!t about Iran?
We've been meddling in their affairs since the CIA and the British government toppled their elected government in 1953. Maybe it's time to just leave them the hell alone.
I can't speak for anyone else, but I voted for Donald Trump in 2016 because I was tired of living in a country run by Sunni Muslims named Bush, Clinton, McCain, etc.
“See my #17 for precise data from the US Government.
In 2018 we produced 11 million BBL per day.
And we consumed 20.5 million BBL per day.
Leaving a gap that would consume Saudi Arabia’s entire production of 10 million BBL per day.
That’s official US data. Argue it if you wish.”
Dude, you really need to improve your reading comprehension!
Wonder if Brexit plays into this at all...
Will you feel the same way when/if gasoline in Houston if over $5 per gallon, and the US is in hard recession?
I tend toward your foreign policy views. I HATE our history of nonsense wars when essential US interests are not a stake. And they’ve been myriad.
But I have a threshold when it comes to legitimate US interests. And ensuring the free flow of oil to world markets is an essential US interest. And will continue to be so for the foreseeable future.
“Iran attacked Abquiq to deliver the message to Donald Trump that the sanctions must be lifted. Iranians are cowards and will never attack directly. They cower behind surrogates or in the Abquiq case, false surrogates. The question rises.”
Some of the early reports suggest that the drones did not attack from the direction of Yemen. If this turns out to be true then we can say that Iran’s clients — the Houthi — are not involved. Perhaps Iran is the origin of the attack this time?
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