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The Saudis Want You To Know They've Got The Biggest Stick
Saudi Aramco's CEO wants to make sure you know he thinks now is a good time for a reality check.
My friends, the confluence of these four new realities—increasing supplies of oil and gas, the failure of alternatives to gain traction, the inability of economies to foot the bill for expensive energy agendas, and shifting environmental priorities—have turned the terms of the global energy dialogue upside down. Therefore, we must recast our discussion in light of actual conditions rather than wishful thinking.
As DB's recent oil note points out, Brent prices tend to move toward the Saudi's target.
Its worth reading his entire address. I don't think he'll be selling maps in order to meet margin calls any time soon.
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I'd switch to horses and trains tomorrow if necessary. I wish everyone was like me.
horses bite and stomp and trains are full of unsavory loud people and the brent price as well as the gas price in the USA are manipulated by the hedge funds. the USA is exporting gas for crissakes while the price of a gallon is $3, disconnect.
KSA : "Your next 'money' will be based on the real value of energy consumed, bought or sold, including all forms of appreciation. All systems of taxation will likewise need overhauling, such as to tax unearned income and reward actual production. Prepare accordingly."
Oh, sorry. Just daydreaming about Henry George.
Watch this video from the movie Rollover. It covers oil, gold, Arabs, etc and recent events in the USA market (bank collapse/run on the banks).
www.youtube.com/watch?v=KUsj7EdZigM
I believe Saudi Arabia is on the agenda for being taken out. You didn't think we'd leave them out of the 'Arab Spring' did you?
I wouldnt say the Saudis have the USA by the nuts, but where would the reserve currency be without the deal to only accept USD for oil?
So you're behind the arab spring? When do you land in Ryad? And BTW there is always Tehran that awaits your arrival. Maybe you should include Damascus and Beirut and while you're at it go on a Taliban shoot in Rawalpindi. You must be CIA chief for the whole Middle East. I love the way you run the world. Good hunting. Just remember Saigon.
Higgins: It's simple economics. Today it's oil, right? In ten or fifteen years, food. Plutonium. Maybe even sooner. Now, what do you think the people are gonna want us to do then?
Joe Turner: Ask them?
Higgins: Not now - then! Ask 'em when they're running out. Ask 'em when there's no heat in their homes and they're cold. Ask 'em when their engines stop. Ask 'em when people who have never known hunger start going hungry. You wanna know something? They won't want us to ask 'em. They'll just want us to get it for 'em!
The oddest part, in my neck of the woods, as oil has climbed from the $90 to $110 levels in the last few weeks, my gas has dropped from around $3.50 to $2.98 that I paid TONIGHT! I have been a little perplexed. Supply, demand functions at work?
Double post. Sorry ZH.
TPTB don't want Americans to think twice about putting some Made in (insert latest emerging market country) POS toy under the tree. The illusion that everything is ok while the world as we know it is crumbling around us must be maintained until Christmas at all costs.
I have noticed the same thing. i have gone from paying $4.11 to $3.88 (i live in CA). i was wondering what was going on with the price drop in gas while oil was rising. but i did read an article that stated that America has become more of an exporter in gas.
Some political games were played with refinery outputs. Check diesel. Diesel has exploded in price as gasoline moderated, and note it is still 20% above this time last year, even with the moderation.
In the end, diesel is what matters and it's destroying trucking.
Fuck the interstates, most of that shit should be riding on trains.
Another genius who controls markets.
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Price will not go down.
Oil is used to GROW FOOD.
Think of billions upon billions in Asia needing food, then China mechanizing their agriculture.
OIL FOR FOOD; and we don't have fewer people every day.
whatever.. we have 200 years supply for this country on the north slope. just take it away from bp and the rothschilds.......and no worries mate.......
Yup. Libya was a BP/Roth operation. I am pretty sure those poor bastards in the Gulf of Mexico on the semi submerible rig were also sacrified to keep oil prices up.
i saw a advertisement on the boob toob sunday , during the houston texans game. it said , come to the gulf of mexico and visit us. we are open for business etc, or something to that effect and then at the end it said paid for by bp......yeh sure..........the same dickheads that fucked up the gulf............
Propaganda for breakfast, lunch & dinner!
You're a moron.
http://www.sauduction.com
my view is we are on our own, i don't know how much fuckin oil is out there but its clear things have changed and we may have to actually send something back in exchange for oil in the new system. We will be drillling and digging ourselves thats clear. We will be driving less that's for sure, look at all the refiners shutting down.
My theory is obama hit that spr last summer for when the new system starts in global trade. Right now the banks own the fuckin oil and its in tankers. Obama will use this to control price as much as possilbe to election, $4.00 to start off on average. This time next year 6-7.
No more FREE gas from the middle east!!!!!!!!!!!!!!!!!!!1
Nothing wrong with drilling and digging and working for a living. That would be a good honest outcome. A 1950's lifestyle isnt that bad. No more fancy restaurant meals though, and seafood in the interior will come in a can again rather than flown in fresh.
that's right specifically the oil in the tankers is used to locate short positions
F the Saudis. They gave us the golf playing muslim. The Saudi's are running out of oil - fast. They are also running out of money to bribe young Saudis and the sunni Saudis who really hate the House of Saud.
They have lied for 50 years about their oil reserves and are pumping seawater to keep the pressure up. Their huge Ghwar field is dying fast.
They have their Shia enemies who want the Sunni House of Saud dead. The Shia want to "terminate with extreme prejudice." The US has probably more nat gas, oil, shale oil, coal diesel, hydrates, etc etc than anyone in the world.
The House of Saud is f**ked and the only reason we are in the ME is to keep the Shia from ripping them limb to limb. The House of Saud is gonna fal and it ain't gonna be pretty. Let the Saudis and Isreal deal with Shia Iran. Cause the only thing Shia Iran hates more than Israel is Sunni especially House of Saud Sunni.
I don't fear $150, 200 or 300 a barrel of oil. I am sick of this evil scum trying to scare us. F them.
The Sauds know that the plan is to take them out next after Assad. Iran will wait unless Iran takes the bait and pushes up the agenda ... all done before election ... push, push, push.
Much better Freddie....
So you understand why when the House of Saud is gone, i.e. looses control of the oil fields, becomes the day the dollar dies...
Still a bit too hateful, it'll give you cancer...
It is the other way around. When the dollar dies, so do the Sauds. That makes more sense as the real plan.
Nah, if the dollar dies the Saud just accept whatever other currency they can exchange for military hardware from the Russians or French or Chinease. Same game, different flag to pretend to respect until the tanks are delivered.
The opposite of love isn't hate, it's apathy.
Ergo, why I can't seem to give a fuck about the Saudis.
Please focus on what's dying today, the euro.
That's going to give everyone heartburn.
Once the euro dies, then peeps will start eyeballing the other currencies b/c everyone is in the same boat: MV Insolvency.
15 of the 19 hijackers on 9/11 were from Saudi Arabia (supposedly). And the US invades Afghanistan, then Iraq, leaving Saudi Arabia not only untouched but one of the largest recipients of foreign military aid. And you wonder who has the biggest cock in the middle east????
Because the House of Saud is the backing for the USD... duh
the saudi army could not fight its way out of a paper bag. the saudi royal family is not muslim in character. does that kind of make things seem more in line with what is going on ........
http://www.coffinman.co.uk/jewish_roots_of_the_saudi_royal_family.htm
Talk about a stretch... where do people get this crap?
everytime you buy saudi oil, you are funding terrorism. buy canadian oil instead.
http://expose2.wordpress.com
Fuck that. Buy meth and run everywhere you go. Those dollars stay LOCAL!
I'm long Pseudoephedrine.
I chuckled.
Every time you buy Saudi oil, you are funding the Wall Street banks. Saudi government = US government. The petrodollars flow to Saudi Arabia, then much of it flows right back to the New York fed, which lends the money to big US businesses. Saudi petrodollars also pay for massive infrastructure projects - these contracts go to Bechtel, Fluor, Halliburton and so on. The only reason the Saudi royal family is still in charge is because the US millitary-industrial-intelligence complex lets them stay, for as long as they play along.
Aramco is the CIA. If Aramco revises its reserves upward, its only with the approval, cooperation of the CIA. Just one big happy family.
Terror is fungible and we will never forget Bryan Adams.
or william shatner's "The Transformed Man".
Alan Thicke, aka "luckiest man on earth" single handedly destroyed the 80's and he still owes me five bucks.
Oh Canada, you soooooo owe me.
growing pains or groin pains?
http://www.imdb.com/title/tt0088527/