Saudi Arabia Goes M.A.D.: Saudi Oil Minister Says Crude To Hit $300 If Turmoil Spreads To Saudi

Tyler Durden's picture

The strategy of Mutual Assured Destruction has worked so well in the "developed" world (thank you Hank Paulson, Tim Jeethner, Clearinghouse Association et al), it is time to see it in application in the "developing." In an attempt to preempt US doubts about intervening (on the proper side) in the case of escalations in Saudi Arabia (and with the possibility of Yemen becoming a potential Al Qaeda hotbed rising by the hour, this is non-trivial) the former Saudi oil minister Sheikh Zaki Yamani told Reuters on Tuesday that "Oil prices could leap to $200 to $300 a barrel if Saudi Arabia is hit by serious political unrest." We are confident he was merely talking in a very, very hypothetical scenario. After all why scaremonger in a world in which everything is under control?

From Reuters:

"If something happens in Saudi Arabia it will go to $200 to $300," he said.

"I don't expect this for the time being, but who would have expected Tunisia?" he added.

Asked whether the United States was likely to succeed in cutting its dependence on Saudi oil, he said: "From the 1950s, American presidents have been saying this."

U.S. President Barack Obama last week proposed to cut oil imports by a third over 10 years.

Than again with math Ph.D.'s continuing to (front) run US stock markets, and unable to make the mathematical leap between $108 oil and a 4% full year GDP forecast by Goldman (soon to be cut to 1.5%), we are confident $300 oil will have no material impact on stocks, until such time as the Globex hikes margin requirements on the ES which will be the catalyst for the next market crash.

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cossack55's picture

More bombing Bitchezzz!!!

 

 

 

He would have been more effective claiming Saudi oil shows signs of Fukushima radiation.

CPL's picture

It's hard to describe that with hand puppets and sing alongs.

 

Too "science-y"

string's picture

Nah... you just need Gore-tex socks and glitter.

Smiley's picture

At $300/barrel we would just glass the whole region and tell the world an astroid hit. 

Sizzurp's picture

If you think NATO was quick to get into Lybia, just wait for Saudi.

long juan silver's picture

Imagine the harm to thoroughbred racing!

MarketTruth's picture

Highly doubt NATO will enter Saudi as their murdering dictator is already doing with his police what has been happening in Libya. Check YouTube for videos as the Saudi police and killing citizens, causing damage to private property without any real reason (smashing parked cars, etc).

Of course the Saudi dictators are VERY close friends to the Bush family and also Obama. Saudi also has a very important US MIL base there. As such, expect the USA to allow this now rogue Saudi ruler to murder as many citizens as he feels is needed without any NATO/UN action.

Double standard bitches!!!

brian downunder's picture

And if the US dollar sinks then it will go to $500

Spitzer's picture

the shit will be priced in Euro's by then.

CPL's picture

HA!  It'll be priced in Gold or Silver.

<inb4shitstorm>

serotonindumptruck's picture

Apparently, Iran is preparing for a pardigm shift with the 3rd phase of their planned oil bourse. I wonder if their "basket of currencies" will include the Euro?

http://www.presstv.ir/detail/172515.html

 

alien-IQ's picture

so...I guess this is what they meant when they said they'd intervene when oil hits 120? I guess....gee...thanks a lot...

Debtless's picture

Speaking of royalty - why do you folks in England still have royalty. Does it not pain you to still have even a token serfdom? Or is it pure entertainment at this point. 

Azannoth's picture

Come to think of it, some people are proud of the 'royality' (dumb@sses)

No to mention all the former colonies Australia etc. have the Queen still as head of state officially, talk about serf attitude

CPL's picture

We have the old bitch on all of our currency as well in Canada.  Used to tell the kids she was an ex-girlfriend when they asked who was on the money.

fredquimby's picture

I used to defend the Queen. Right up until I discovered the internet and places like the Daily Bell and Zerohedge....

I also used to support the UK football team, but gave that up a few years ago out of disgust that they don't even have an English Manager. Now I don't even miss it.

Seriously, we are conditioned to think that the Queen is good for the country, and the majority lap it up without question....To be honest, it is only since the non-stop wedding talk this year that I now am starting to truly (and actively) despise this lot and the inequality and "elite" families that they represent.

It is also hearing a few talks recently by Jacques Fresco and the need to abandon these fake country boundaries we have imposed between us and create a Resource Based Economy for the whole world....

Which is unbelievable coming from a die-hard England supporter of 30 years....

http://www.thevenusproject.com/en/a-new-social-design/resource-based-eco...

Hey, Lets face it, if I can sell my car and get out of debt to stop these fuckers getting any richer, so can a lot of people.....and believe it or not, it's actually quite fun not using Arab oil any more!!(and using it should be labelled as an unpatriotic act as you are bankrupting yourselves and enriching Mr. Saud!!)

Long live my electric bike I say:

http://www.mybionx.com

Cheers!

 

Herman Strandschnecke's picture

HM Queen signed off on the Lisbon Treaty presented by Gordon Brown, an unelected Prime Minister and his Foreign Secretary, David Miliband. Losing our sovereignty to the EU at the hand of these people with out so much as a vote on the matter.

EscapeKey's picture

She doesn't have much of a choice. If she doesn't sign the piece of paper in front of her, that requirement will promptly be removed.

Herman Strandschnecke's picture

She doesn't have much of a choice. If she doesn't sign the piece of paper in front of her, that requirement will promptly be removed.'

So the argument goes. It is utter tosh nonetheless; either you respect your subjects or you don't. Vis a vis likewise. It's not just handing over the reins it's also the millions of pounds taxed and handed over with them that matters.

HM is on our currency, tax demands, Courts and Defence Services, Constabulary, etc.

There was a real choice IMO.

goldfish1's picture

Used to tell the kids she was an ex-girlfriend

You I like.

EscapeKey's picture

Don't know if you can claim it servitude anymore - more like a case of a national sideshow. She's got zero actual power.

Vlad Tepid's picture

"Lawrence what? Of Arabia?  That name sounds to me like royalty - are you royalty?"

SheepDog-One's picture

Im not scared, work on it private Joker!

A Man without Qualities's picture

You can explain to anyone the benefits of a constitutional monarchy in two simple words:

President Blair

or 

President Brown

or

President Thatcher

 

It's like when they had the referendum in Australia a few years ago. Although the majority favored the idea of an Australian head of state, when they saw the shit the politicians were trying to pull in terms of new powers and privileges, they decided to stick with what they had.

ParisianThinker's picture

What would you like to name those few who run your country?

ZackAttack's picture

Everyone has learned well from US banksters, except, of course, US citizens.

Irwin Fletcher's picture

Obanksta seems to have learned from them pretty well. You saying he's not a US citizen?

Things that go bump's picture

I liked Obama's use of the royal pronoun in his reelection announcement yesterday.  

nkktwotwozero's picture

More like got schooled by the bankers.

Literally. According to John Taylor Gatto at least.

http://www.johntaylorgatto.com/underground/prologue.htm

falak pema's picture

Lol, the kings of Saud have ants in their pants and it itches bad! It's so sad as oil may spike to 300 and we'll all be biking to work. 9 million bicycles in New York and my air conditioner won't work and the ozone layer melts away as I sizzle on my saddle...9 million bicycles in New York...

velobabe's picture

sizzle on my saddle, bitchez!

i like that visual combat, phallic symbol.

EscapeKey's picture

U.S. President Barack Obama last week proposed to cut oil imports by a third over 10 years.

As long as he's just making shit up, I don't know why he didn't propose 90%.

malikai's picture

What does it matter anyway? The morgue says oil prices don't effect inflation. I say lets confirm that with $1,000 oil.

EscapeKey's picture

Compared to those assholes, the Iraqi Information Minister was trustworthy.

gordengeko's picture

Oh, I thought all was calm over there?  Well except for the chocolate place and trying to bomb that gadaffy guy.

nkktwotwozero's picture

Everything is fine according to MTV.

Blankman's picture

$300 a barrel.  Thats ok America will just increase minimum wage to $80 an hour and all will be fine.

 

 

 

 

vast-dom's picture

guess it ain't most opportune time to short oil ;)

gordengeko's picture

I almost disagree, almost.  Well maybe.

nkktwotwozero's picture

Shorting oil is a fools errand.

Unless you hedge yourself.

But you're on the wrong site for that.

LibertyIn2010's picture

HOPEless regime CHANGE

Vlad Tepid's picture

That's OK.  I've got my spiffy new Prius on order from the Rust Belt and it should be here any minute now thanks to globalization...what's that?  They don't..uh-huh.  But I...ok.  Well, when...yeah.

Never mind. Can we declarewar and bomb some people now?  My SUV doesn't take Hopium.

goldfish1's picture

Yes well headline news says toyota closed north america production. there's gm.

John McCloy's picture

Front Page Yahoo Right Now:

Woman gang raped by Ghadafi troops. More desperate efforts to legitimize an illegal war. 

http://news.yahoo.com/s/ap/20110405/ap_on_re_af/af_libya_woman_attacked

alien-IQ's picture

wait til they find out it wasn't Ghadafi troops but rather KBR employees...that's when the comedy will kick into high gear.

Caviar Emptor's picture

Flash: Correction: Ghadafi gang raped by Ghadafi troops as part of operation enduring utopia. 

bigking12345's picture

truth is the first casuality of war, if all those things happened to her she would be dead.