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Saudi Arabia Goes M.A.D.: Saudi Oil Minister Says Crude To Hit $300 If Turmoil Spreads To Saudi
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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More bombing Bitchezzz!!!
He would have been more effective claiming Saudi oil shows signs of Fukushima radiation.
It's hard to describe that with hand puppets and sing alongs.
Too "science-y"
Nah... you just need Gore-tex socks and glitter.
At $300/barrel we would just glass the whole region and tell the world an astroid hit.
If you think NATO was quick to get into Lybia, just wait for Saudi.
Imagine the harm to thoroughbred racing!
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!!!
And if the US dollar sinks then it will go to $500
the shit will be priced in Euro's by then.
HA! It'll be priced in Gold or Silver.
<inb4shitstorm>
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
so...I guess this is what they meant when they said they'd intervene when oil hits 120? I guess....gee...thanks a lot...
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.
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
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.
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!
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.
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.
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.
Used to tell the kids she was an ex-girlfriend
You I like.
Don't know if you can claim it servitude anymore - more like a case of a national sideshow. She's got zero actual power.
"Lawrence what? Of Arabia? That name sounds to me like royalty - are you royalty?"
Im not scared, work on it private Joker!
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.
What would you like to name those few who run your country?
Temporary workers.
Everyone has learned well from US banksters, except, of course, US citizens.
Obanksta seems to have learned from them pretty well. You saying he's not a US citizen?
Hiooohhhhhh
I liked Obama's use of the royal pronoun in his reelection announcement yesterday.
More like got schooled by the bankers.
Literally. According to John Taylor Gatto at least.
http://www.johntaylorgatto.com/underground/prologue.htm
+33
http://www.infowars.com/creating-obedience-in-americas-best-and-brightest/
I think more parents should look into this.
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...
sizzle on my saddle, bitchez!
i like that visual combat, phallic symbol.
As long as he's just making shit up, I don't know why he didn't propose 90%.
What does it matter anyway? The morgue says oil prices don't effect inflation. I say lets confirm that with $1,000 oil.
Compared to those assholes, the Iraqi Information Minister was trustworthy.
Oh, I thought all was calm over there? Well except for the chocolate place and trying to bomb that gadaffy guy.
Everything is fine according to MTV.
$300 a barrel. Thats ok America will just increase minimum wage to $80 an hour and all will be fine.
guess it ain't most opportune time to short oil ;)
I almost disagree, almost. Well maybe.
Shorting oil is a fools errand.
Unless you hedge yourself.
But you're on the wrong site for that.
HOPEless regime CHANGE
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.
Yes well headline news says toyota closed north america production. there's gm.
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
wait til they find out it wasn't Ghadafi troops but rather KBR employees...that's when the comedy will kick into high gear.
Flash: Correction: Ghadafi gang raped by Ghadafi troops as part of operation enduring utopia.
truth is the first casuality of war, if all those things happened to her she would be dead.
Next headline:
"Ghadafi accused of rape after parents of children who visited his amusement park ranch got jittery over his lifestyle choices, the inherent peculiarity of a grown man playing with children, statements from chldren, dna testing, and their childrens' rectal bleeding."
We'll know it's some sort of disease when the Q buys a chimpanzee. :>D
Fallacy in Yamani's thinking: long before seeing $300 you'd see $80 again as demand would collapse in developed countries in a synchronized swan dive.
Also long before $300 you'd have a NATO-led occupation and perhaps annexation. We could provide air support from our several Air Force bases in Saudi (like Dahran), UAE, Kuwait etc
But arent you assuming an 'efficient market'? Thats long vanished in the rear view mirror hasnt it?
Why is oil over $120 this morning its certainly not supply and demand driven at near all time high inventory.
The only place that is "well supplied" is Cushing, in part because of the direction of flow and the pipeline network...Another factor is that what is in Cushing is not WTI oil but heavy sufurous goo...
Check
http://www.upstreamonline.com/marketdata/markets_crude.htm
and take into account in the relative quality of the crude. Tapis and Bonny Light are very light and sweet....
Yea, so if anything its due for a jump far higher! Not demand driven at all, purely a set price decided long ago.
The oil in Cushing is mostly from ND and Canada it is a synthetic type oil that has to be blended and is harder to refine so the refineries would rather use Brent , easier and cheaper(their costs) to refine even if it is about $15 DPB more initially.
A quibble...
The crap at Cushing is exactly what the US refiners want...It is the rest the world that needs higher quality oil... The Bakken oil is actually very high quality, IIRC. Valero and their ilk are stockpiling the syncrude and selling the refined products that are "benchmarked" to Brent.
Remember that Brent production is a trifle, there are "fixed" spreads for other crudes, e.g Ural, that trade off of Brent. Brent is a proxy for tanker deliverable oil...
Aramco has the the biggest and best supplied merc army in the neighborhood. Think blackwater/xe with a unlimited DOD credit card and State Dept authorization to import heavy and advanced weaponry (conveniently on sale/display right up the road in Abu Dabi annually). If subduing Qdaf isn't an absolute cakewalk then don't even think about Aramco. House of Saud ain't goin anywhere, but just in case, they do have a plan for that.
$100,$150,$200,$250,$300,$350,$400......then at some point zero. That is right, we will reach a point where zero dollars will buy oil, cause they will not take them any more. We will be screwed and that day is coming
http://www.youtube.com/watch?v=m1aQ-XGWors&feature=related
predicted in 1981 movie Rollover
Well, maybe if we can't have it no one can.
Go long on suntan lotion bitchez!
Suntan lotion stock is going through the roof.
Now that the world is becoming de-sensitized to nuclear disasters we may witness the rise of 'open-pit' nuclear reactors with minimal start up time
makes me want to gang bang a mushroom patch in decameron-ese passion. They call them 'trumpets of death', delicate black mushrooms very good in omElette..
Oil, bitchez. Black gold, Texas Tea.
I love the smell of Threats in the Morning...
Yeah, please deliver those F-15s now please! The Saudis can do whatever they want in this environment, including blackmail the U.S.
Nah... you just need Gore-tex socks and glitter.
When does it all stop. I am getting so tired of the lies, deceit and spin.
The beatings will continue until morale improves amongst the peasantry.
Gbagbo is suing for peace in Abidjan and the Q-daffy family bunkering in...Will the oil spindle turn in Benghazi? If it does that will be a relief in Ryad. A lot lies on Libya getting an oil erection to save Saudi from going permanently hard-on...'cos that is not good for the heart of Saud's oligarchy...they are all octopussian of age! Send in the harem girls, relief is at hand, both hands. No please...no state department help required...!
He's just ordered a new mega yacht and needs the extra cash.
It's quite obvious now that the Globalists are ramping up the push for a NWO, using the USmilitary as the enforcement mechanism. What used to be baby steps are now sprints. The abrogation of US sovereignty to the UN re Lybia is mind boggling on its face. I have the sickening feeling that the Global Banking Cartel knows that it can't extend and pretend anymore, and that the economic end game may be closer than we think.
The Saudi minister is pissing in the wind, trying to checkmate the Globalists by predicting armageddon. They don't give a shit, Mr. Oil Minister.
Maybe if we played them Wagner...they would feel like invading Iran!!
That's good for world equilibrium...
Ironic? That's the yearly average wage of a slave in Arabia (they will be dropping the Saudi pre-fix very soon)
So, this would mean what, 11.00 a gallon gas in the US. This could be interesting.
The 800 lb gorilla is the high odds that civil unrest doesn't matter. Geology trumps politics. If production can't keep up with demand, with everyone happy and no riots going on, then all this doesn't matter.
BTW, Nigeria has an election unfolding. Its last one in 2007 shut in half its production for a few months. That would be 1 mbpd.
And to make things more fun, Suncor has standard periodic maintenance on one of their big (150K bpd) oil sands upgraders scheduled for May. It will be shut down for 6 weeks.
Oh, and GoM hurricane season starts in a few weeks. As does KSA's summer. Their air conditioning electricity burns 600K bpd.
It only goes to $300 if we are willing to pay for. I think they forget the fact that we have a military. I think they forget the fact that we have gone to war for LESS..... Who do they think they are dealing with.....idle threats, by a spineless dictatorship.
Many of these price predictions assume that oil will continue to be available. What if war breaks out in the Middle East? Oil may not be available at ANY price! We'll see rationing much worse even than during the Arab oil embargo. We won't be able to drive to work, or even grow FOOD!
One sunk oil tanker in the Straits of Hormuz and military doesn't matter.
Insurers will stop insurance on all oil tankers and shipping cos will not send in tankers sans insurance.
Unless the US Gov wants to get into the business of insuring tankers... checkmate.
A barrel of oil seems to keep its purchasing power unlike all the fiat junk. Saudi plc has the pricing power to pass on the inflation (hey BEnron, wasn't that what you wanted?) costs to its customers, we shall see starting next week if the same goes for corporate America. Thanks god it is "transitory" otherwise one could grow worried.
These comments out of Saudi Arabia could be due to the fact they've setup a pact with Bahrain according to the rumors and are will to challenge Iran if needed.
http://goldandsilverlinings.com/?p=474
This is a message of 'support us - or else' to the US.
It's decision time people - cheap oil, or morality - you can't have both I'm afraid.
Maybe the CIA is telling them Iran is about to send over some trouble makers to try and takeover Bahrain.
What yermunny is saying here is: The world will pay a v high price if we don't blow the shit outta these demonstrators on our streets. So get the body bags ready.
Fuck their bluff and fuck them-- let it get to $300/bbl and we'll see just how robust everything is. This is why oil is the cancer of our society used as a bargaining chip and leverage to get away with murder. We as a nation can become independent of oil in general and secure our economic competitiveness in the process, it's the politicians that won't let it happen as the imbalances continue to eat away at our very democratic process.
When you find yourself sinking in the sand, quit moving!
Next stop for cheap energy is the sun, like nature intended.
Banks won't like it because no one dies.
look familiar? see 2007? chart of WTI crude ETF, weekly candles (pardon my unsophisticated platform. i dont have a futures account.) : http://cl.ly/5kuq
The game is on. If Lindsey Williams’ sources are correct then the thieves running the US Government puppet show will begin pumping out the existing capped wells of Gull Island in Northern Alaska (with a reported 250 year supply of high grade crude) once prices exceed $200 per bbl. The American people are so dumbed down and misled they wouldn’t know the difference at this point. Hell, most of the people posting in this thread are, without a doubt, clueless as to what is actually going on.
This is interesting timing with regards to the Saudi's pledge to release more reserves once the barrel price hit $120.
Qadafis gunna prove might makes right
.
in the end every country should be a facist shithole anyways
.
see it works for israel, hell call them flourishing vigorous democracy... you have to understand people hate freedom
..and Tiny Tim in the other corner
his coach(aka uncle ben) is giving a pep talk....
..timmy we got 'em this is a no fight win, dis nothing but an ink n paper fight...shit he say 3 , we'd been plannin 8 for teh longest time...cash in da bank waitin buddy....cash in da bank.
http://www.susris.com/documents/2011/110404-bsf-economics.pdf Saudi's spend more Money on the People to quell protests oil goes up in price.
who needs hydro carbons
irradiated whale oil
is the future ...
This chess Game has become very interesting. Iran will go nuclear only when US leaves Afghanistan. Staying in Afghanistan cost 350B a year. Spending 350B a year at this point is suicidal. Iran goes nuclear will take oil to $300/b. My estimate is more 6 months and there will be a checkmate.
Wow, the Saudis are playing hard ball...it's far past the point where we should have gone to war with them, we need their oil and if they're gonna play it like this we really should just invade and take over, just find some excuse or something to blame it on, damn wasn't 9-11 convenient?
www.forecastfortomorrow.com