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Saudi Prince "Astonished" At Oil Minister's "Disastrous Underestimation" Of Effect Of Price Cuts
As the US-Saudi 'secret' oil deal continues to depress the price of oil, pressure Russian revenues, squeeze European budgets, and raise doubts about the status quo (OPEC and the rest of the world), not all of The Kingdom's elites are happy. Infamous billionaire Prince Alwaleed bin Talal has written an open letter to Oil Minister Ali al-Naimi and other ministers, as Reuters reports, saying the world's top oil exporter should start worrying about the recent slide in global oil prices and warned against the negative effect of such a drop on the state revenue: "Ninety percent of the 2014 budget is based on it (oil), so to underestimate (these implications) is in itself a disaster which cannot pass unnoticed," he wrote in the letter.
Saudi's budget breakeven oil price is $86.1 in 2014, according to International Monetary Fund (IMF) estimates. But, as Reuters reports, not all the Saudi royal family are happy...
Saudi billionaire Prince Alwaleed bin Talal said the world's top oil exporter should start worrying about the recent slide in global oil prices and warned against the negative effect of such a drop on the state revenue.
In an open letter to Oil Minister Ali al-Naimi and other ministers, dated Oct. 13, Prince Alwaleed said he was "astonished" about comments reportedly made by Naimi aiming "to alleviate the substantial negative implications on the Saudi budget and economy due to the big drop in oil prices".
He was referring to comments made by the oil minister in Kuwait on Sept. 11 where he played down concerns about the drop in oil prices below $100 per barrel.
...
Last week, Saudi officials briefed oil market participants in New York on the kingdom's policy, making clear that Saudi is prepared to tolerate a period of lower prices - perhaps as low as $80 a barrel - in order to retain market share, Reuters reported on Monday.
...
Prince Alwaleed has repeated previous warnings that the Gulf Arab kingdom needed to reduce its reliance on crude oil and diversify its revenues.
He said in the letter, posted on his Twitter account on Monday, that the kingdom's budget this year and in 2015 could incur losses worth billions of riyals.
Owner of international investment firm Kingdom Holding, Prince Alwaleed is unusually outspoken for a top Saudi businessman.
But his warning may reflect growing concern in private among many Saudis about the impact of declining oil prices on the country's economy and its dependence on oil revenues.
"Ninety percent of the 2014 budget is based on it (oil), so to underestimate (these implications) is in itself a disaster which cannot pass unnoticed," he wrote in the letter.
Full Alwaleed letter here (in Arabic)
* * *
This is a major development in world politics, it’s not just some financial market-driven move.
World power relations are being hugely changed on the fly as we’re all watching and trying to figure what to make of all this. One thing’s for sure: the world will never be the same.
Why it happens now is a great question, which is impossible to answer. And that’s fine: it’s enough to try and understand exactly what is going on, let alone why.
But I bet you it has to do with the US and Europe realizing they can no longer keep pretending their economies are growing or recovering or doing fine.
We’ve landed in the next phase of what arguably started in 2007, but what you could place back many years before that, an economic system based on the fantasy that is debt driven growth, inflated by a factor of a trillion, give or take a few zeros.
That system is in the process of dying. And the people who have tried to make you believe, and succeeded, that it would all be fine in the end, are now jockeying for position in the aftermath of the demise of a world built on debt.
And they are the same people who built that world, profited from it to an insane degree, and want to use those profits to hang on to power in a world that will be dramatically different from the one they called the shots in. And that doesn’t bode well; it tells us violent clashes will be on the horizon.
* * *
And today we already see tensions in The Kingdom rising:
- *TWO U.S. CONTRACTOR EMPLOYEES SHOT IN SAUDI ARABIA: OFFICIAL
- *U.S. OFFICIAL SAYS ONE DEFENSE CONTRACTOR KILLED, ONE INJURED
Not good.
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Saudi Oil Minister just following the U.S./Detroit example.
IS budget under threat
That guy went to a Hall and Oates concert and never really came back.
pods
"Certainly, there is some more equitable solution, which can be arrived at..."
Yves Smith has agood article on the Saudi oil weapon. Lots of insight. They may play it further, too.
http://www.nakedcapitalism.com/2014/10/saudis-deploy-the-oil-price-weapo...
Where's the beef
Iran is the key to US geopolitical game. Without Iran on its side, US cannot
- Have any oil/gas stability in the Middle East. Therefore, US cannot put real pressure on both Russia (cutting the major Russia revenue flow from oil & gas sold to EU) and China (controlling oil & gas supplied to China from Iran)
- Control Saudi, Qatar, etc since friendly Iran together with Iraq can bring close to 20 millions barrels of oil per day to the world market. Both Russians and Saudis are each limited to about 10 millions barrels of oil per day. Therefore, US will be able to control Saudi, Qatar, etc.,
- Win in Syria and pacify Iraq and the rest of the Middle East
The major problem for US geopolitical aspirations is Israel and its lobby in the USA. However, the yesterday vote in the British Parliament 272 for vs 12 in favor of recognizing a Palestinian State indicates that Zionists have a major problem at least in EU.
If in coming Nov., US and Iran will solve their nuclear differences, the US foreign policies will be dramatically changed by securing the petrodollar and putting both Russia and China on defense.
I read recently that Jews (at least when they're not in Israel) would prefer it if the societies they live in become more multi-cultural, as they calculate virulent anti-Semitism is less likely to arise if there are a lot of other ethnicities in the mix. Consequently, some of the most vociferous proponents of multiculturalism are Jewish.
Ironically, this has led to the immigration of vast numbers of Muslims into the EU... few of whom are particularly fond of Israel.
Suck it up, zionists.
Iran will not play the US game after being kicked and bullied for years by Americans, and after being sabotaged by the American supported Israelis. Keep dreaming at your candy shitting unicorns which pass for US foreign policy nowadays...
How quaint to suggest that the US has a "foreign policy". The US no longer exists. It was taken over by something evil that has its own agenda. Helping the "US" is not part of the equation.
The US is merely a tool to advance the Deep State interests, which in a nutshell are whatever advance the interests of Israel and the dual passport holders who permeate the US halls of power.
The US is a nearly dead, empty shell to be scavenged and discarded when a better host comes along...
The US is dying because it has its head stuck up the goat's ass. House of Saud is the number one enemy of We the People of the United States of America. 9/11 remember. Gives me great joy that this grease head is worried.
Not sure even Hall and Oates had the fashion sense to color coordinate their turtleneck and futuristic rimless shades.
I don't think I will ever hang with him. Likely too smart, too handsome, too rich, but most of all I could never bring myself to dress like that - even back in the 80's.
Btw I can't seem to get outta my head that Dumb and Dumber scene with Jim Carey and the Ferrari at the ski lodge in Aspen.
The prince has been 'keepin it real' since 85
Does he have ebola? He looks like a bloody asshole.
I think he wrote the Pina Colada song
Rupert Holmes
https://www.youtube.com/watch?v=w5_EIikdFr8
Why wouldn't the Russians' or other oil producers retailiate by buying Silver futures in the US and stand for delivery. If only 5% stand for delivery they will break the bank, tit for tat.
There is a soft underbelly of the Central bank begging to be gutted.
Yup. But maybe this is seen as a last resort... and likely to lead to the revaluation of gold, which they're buying hand over fist... at suppressed prices.
yup
this slime ball should never underestimate just how much shit he's full of
When will the Saudi's figure out they can issue their own oil-backed currency?
Those folks are useless. They all have ethiopian slaves ( or the like ) because they are too lazy or dumb to screw in a lightbulb. They are happy to pay patrons to protect them.
Your point is intereesting however in that Jim Willie keeps saying that there is a US Saudi rift and they are going to at some point break up with each other.
My view? That can't happen until WW3 starts, or it will be the catalyst for WW3.
Wicked Willie's talents are put to better use in making statistical prognostications re Ebola, rather than waxing/wanking lyrically on Geopolitics.
That way, if he used his PhD in Statistics, we could determine the worth of his salt by his Ebola predictive modeling.
p.s. We should ALL be leery of people who make predictions of what will happen, when it comes to Complex Systems, w/o them doing two things: 1. Giving a timeline or time window of said Events occurring, and 2. Their Confidence Level (probability 'P'). If they do not do this, you have to question their ABILITY (i.e. Intellect + Education + Experience), their WORK (Valid Model + Valid Data + Due Diligence) and their AGENDA (Motive + Benefit). And you should never trust a person who is making bold but vague* predictions outside their area of expertise -- as they are probably leveraging their abilities and reputation from their area of expertise, to monetize it outside their area of expertise. Think: "Those who can, do. Those who can't, either sell or teach". E.g., TV commercials are full of celebrities who know jack shit about the product they are flogging. Caveat Emptor!
* Vague predictions, rather than Smart predictions. SMART Predictions are like SMART Goals:
SMART Goals are Specific, Measurable (objective), Attainable, Repeatable and Timely.
SMART Predictions are Specific, Measurable (objective), Analytical, R2 (correlation) and Timely. Statistics and Monte Carlo runs are used in the Analysis, to determine the Trend and its Variance (Std. Deviations from Mean).
Otherwise they're selling Snake Oil to gullible suckers -- and we all know that there's one of those born every minute.
When will the Saudi's figure out they can issue their own oil-backed currency?
They kinda do already; it's called the US dollar.
They don't issue it, as such, but then strictly speaking no developed world governmment issues their own currency, either.
I tend to see 'our' OPEC satrapies as being part of the US. They demand USD for their chief product, and in return get unlimited bully-boy protection from Uncle Sam's finest. But (unlike, say, Puerto Rico) as they are supposedly 'sovereign', they get a seat in the UN; and can do whatever the fuck they like to their dissidents (who will essentially be dissenting about the US-driven status quo in 'their' country) without US human rights groups getting on their back, or having to worry about the US constitution (not that the US government worries about that very much any more either)
Why invade the ME to take their oil when we basically own it all already? We just have a bunch of extremely overpaid middle management in the form of OPEC monarchs running the place.
The Saudi Royals are scum and it is doubtful that the klan are even real Muslims.
Saudi Arabia has seen ongoing destruction of early islamic sites:
http://en.wikipedia.org/wiki/Destruction_of_early_Islamic_heritage_sites...
Here are qurans found in a sewer in saudi arabia:
http://riyadhconnect.com/wp-content/uploads/2013/12/Quran-found-in-Taif-...
I would suggest broadly that they are apostate or heretic muslims. I've seen many sunni and shia refer to them as satanic and frankly I don't disagree. Many folks here say all muslims are bloodthirsty like the wahhabi crew, but secular syria shows that not to be the case. With their money and influence around the world these fuckers have done as much as a small country on the mediterranean to make the world a shittier place.
They support and encourage the expansion of Wahhabism, which has grown exponentially in the region (and in Afghanistan, thanks to their Agent and son: OBL).
The Wahhabi movement started out as an extremist sect of Islam, that is austere, fundamentalist, intolerant and puritanical in its worldview, and that grew into a mainstream version under the Saudi Monarchs.
Note that the other two Abrahamic religions -- Christianity and Judaism -- also have their share of extremist sects, which are also rather austere, fundamentalist, intolerant and puritanical in their worldview.
Where ISIS and the Taliban are Medieval manifestations of Wahhabism, Christian and Jewish extremist/fundamentalists manifest their traits in more Modern terms: Rather than killing your body in a brutal and messy manner (as an example and deterrent), they will probably kill your reputation and income in a messy manner (as an example and deterrent). You may not lose body parts, but chances are you'll lose everything you own (even loved ones), by the time they are done with you.
First off, Saudi reserves are a sham, they pump in as much water as they do oil out.
Secondly, years ago it was confirmed that saudis want ( need ) 100 dollar oil due to essentially having to lard money at the masses to stave off revolution.
http://www.washingtonpost.com/blogs/wonkblog/post/why-the-saudis-want-oi...
This saudi bullshit and their plan to fuck with Russia may well be true - but anyone with a brain, including them, knows it can't go on for long. Much like the US trying to fuck Russia they will end up as bad off - or worse.
All this different break even points and what not is probably as much divined from a ouija board as anything but suffice it to say that The Saudis are among the least well positioned countries to live with persistently low oil prices. Their only other export is terrorism.
I'm not so sure. They've had decades to build up vast currency reserves and gold. So they're making a loss now - who says they can't keep it going for a few years? And if the US really wants the price of oil kept low, and it looks like the House of Saud's grip on power is getting shaky, I'm sure they can start issuing long term debt which 'Belgium' will buy at yields of < 1%.
Although I'm sure the Sauds would hate to lose their gold, I bet they'd hate to lose their grip on power even more; so if Uncle Sam requests it, they could sell (or lease for some 100:1 paper games) and crush the PoG while they're at it.
I think things could get really, really nasty going forward.
Dr. Jim Willie has said the UK and USA have been stealing all of the Saudis London gold.
I remember Dr. Jim Willie's 2012 'Morgan Stanley's imminent failure!" call.
I'd take his pronouncements with a very large grain of salt.
Do you know how much money MS got from TARP? Huge amounts. If they had not been given that money they would have easily failed.
How are they going to keep the masses placated now?
Once SA blows up, forget it.
pods
And, when it blows up, the Bono prince will remind everyone of his letter, his forsight, his altruism, his willingness to sacrifice for the benefit of the kingdom.
He's making a play.
'Belgium' will buy all the debt they need to issue.. as long as they're doing 'Belgiums' bidding.
"Saudi billionaire Prince Alwaleed bin Talal said..."
Sounds like someones ox is being gored ;-)
Billionaire princes are all 'OMG' over $90 oil....for fucks sakes cry me a river, the price of oil was around $25 a barrel until very recently!
Just proof that some of these Saudi princes are idiots. The guys at Aramco are pretty smart on the other hand. Drive oil down to $75 while squeezing out Russian oil from the Euro refineries? Pretty damn smart if you ask me. Plus it will cool down the stupid hot money flowing to the heavily indebted small caps drilling for shale in Texas and North Dakota.
Dude:
He's making a play - it's that simple.
right, and how does that jive with the "breakeven price" of $86/barrel for them? they simply lost money hand over fist until recently? bullshit.
Exactly, and this so called 'ojecting' by SA Princes is mearly saving face to try and avoid unwelcome visits from very pissed off Russian agents. It is not going to work.
Short 1 unit of SA Princes and long 10 units of Russian Agents
"90% of their budget is dependent upon oil"
The best thing that coulld happen is these criminals run out. It's curious that Saudi Arabia chose $80 a barrel when shale oil isn't profitable below $85 a barrel. It's almost as if the house of Saud were targeting somebody other than Russia.
These dipshits can play chicken with the price of oil all they want. It is nice to see gas with a 2-handle again.
"It is nice to see gas with a 2-handle again."
So you enjoy living under fascist control? Can't have it both ways. Either oil breaks free from Wall Street control and other nations challenge US hegemony, or we live in the status quo where the US uses Wall Street to inflict financial warfare against other fellow humans who don't do what they say. Think beyond your wallet for a second. It's tough for most to do, but doing so will allow you to see how corrupt the current paradigm is.
The FED and petrodollar are at the root of all of these wars / uprisings.
"Oil breaks free from Wall Street control"
That's a good one!
You have fallen for their police state boiling frog routine. Obama is an oil boy even more than Bush. The pubic says - oh great oil is a bit cheaper - thank those in charge.
It is just like the boiling frong where they turned down the heat a few degrees and we are grateful. F them.
Gas with a 2 handle? Where the fuck you live BB. Our regular is $3.69 last night, and that's the lowest in a whole long time.
(Northern CA coast - always some of the highest in the nation, but still, $2 handle?)
My thoughts also Doc.
Putin doesn't give a shit what the USD price of oil is anymore.
SA wants shale oil knocked out.
Once the oil (and natural gas) comes out of the ground it only costs about a dollar a barrel.
MID STREAM (seperating the oil from all the other stuff...including very interestingly superheated H20) definitely is making money at these prices...and that will be a check on how low oil can fall and still be profitable.
No problem with transportation though and with the dollar this strong prices at retail could drop a lot. Since ethanol can be produced for ten cents a gallon I see the price at the pump dropping to maybe 25 cents.
If the price of that Model S Tesla drops to forty grand new this thing is on like donky-kong.
"It's almost as if the house of Saud were targeting somebody other than Russia."
"Kill two birds with one stone."
-Ancient Arab Saying
"What birds and what stone?"
-Modern Arab Saying
Hold for the CIA inciting some bloodthirsty Wahabis to jihad vs. the House of Saud!
At some point they don't care who is impacted, but again I think that most people are reading way too much into this "plan."
It's just as likely to be wash trading as it is some geopolitical puppet show.
Break even and oil price in these parts is even murkier than for the saudis conventional oil, since most of our oil trades at some nebulous discount to begin with.
Either way at this point all markets have ebolAIDS so trying to make sense of it is like pissing in the corner of a round room. Someone just torch it already.
All of this to help the election cycle and nothing more. The repubs are screwed either way and the propaganda machine soon will gear up and push how this administration pressured OPEC into lowering their prices. If prices rise of course this will be the repubs fault as well. The dirty secret is our MIC is now in full gear to bomb and if necessary invade Syria at the behest of the Saudi's.
What media outside the USA is reporting, is the USA is bombing oil refineries and pipelines in Syria. We bomb other areas for a show for our American media to keep the sheeple happy. Now our government has real proof against Assad. I thought they had it before with the so-called nerve agent attacks. Our Air Force and Navy cannot ever stop ISIS and control the ground. That will take ground troops period. The Army and Marines will be deployed after the election cycle most likely as we cannot have the deployments before the elections unless something seriously goes wrong.
I did fill up my truck today below the three dollar mark.
Somebody call the Waaaambulance.
Or just call the FED, I'm sure we can key-stroke in some moar $$ digits to subsidize the poor Prince...
"that Saudi is prepared to tolerate a period of lower prices - perhaps as low as $80 a barrel"
sure sure ... just long enough to knee cap alternative energy ventures ... and then to the moon alice
Outstanding!
This means the price for a pint of beer along with everything else on the menu will be going down in price "shortly"???
Cause I'm sure as fuck not seeing it yet!!!
that'll come later ... as oncoming US recession evident to all
that'll come later ... as oncoming US recession evident to all
Yeah you're probably right. With a pandemic and WWIII looming on the horizon, the least of your worries will be a glass of beer and a burger at 1994 prices...
A large number of us may already be dead or very sick in order to enjoy it!
Boy that guy looks like a douchebag.
Boy that guy looks like a douchebag.
CK as much of a douchebag as he is, he is incomparable to the ones in London, Paris and the U.S. who helped make that camel riding tent dweller hit the "Powerball jackpot" many times over his life what he is...
The first draft probably read "Dear Saudi douchebag."
No wait..."dear you worthless phi king Saudi ass douche bag Phuket."
No wait...let me think about this.
"Suck my oil loving cock you worthless Mecca and Medina loving."
No wait...that ain't right either.
"Oh mighty genie! Hail yea! Hail yea!" There, that's better.
Tally you should learn something from the old adage don't put all your oil in one basket
Branch out. Add a few products. That is if you can actually produce anything of value to the world
That black cube you have in Mecca seems awfully popular around the world. Maybe you can increase exports of that. Here's one of your converts hard at work spreading the word
https://www.youtube.com/watch?v=-dLZ4KtLXJo
I need those sunglass more than oxygen.
He looks like a gay Bono with those glasses and moustache. Hello hello, yea yea yea yea!
Is this the "prince" who destroyed one side of a mountain near Aspen with his 22,000 sq ft mansion [and surrounded by a dozen body guards and CIA 24/7] ?
No that was the Brunai Sultan...it was 55,000 sf...plus many other buildings...of course it broke all zoning rules and regulations...but whats a little money under the table to get the permit.....I think its for sale now..or was
Clown with a lot money to blow.
Trying to be a Bono lokk-alike?
90% of Saudi Arabia's revenues come from oil, and probably 90% of that money goes directly into the pockets of these "princes". It's hard to get by on less than a Billion$ a year you know.
It is time for drillers to learn what it is like to be a miner. Why should mined liquid sell for a profit when mined everything else does not?
How does it help miner's if drillers learn what it's like to be a miner?
For that matter, how do you mine without "mined liquid"? Time to go back to using a pick and learn what it was like to be a miner before "mined liquid" transformed the process.
In what world does the mining process continue that does not produce a profit or promise of future profits? Mines are shuttered, just like wells when it cost more to pull it out of the earth than it can be sold for. Unless mining concerns have become a benevolent lot that mine for the fun of it expecting nothing in return for their risk taking and sweat equity.
Prince Alwaleed bin Talal will receive a visit from Prince Bandar quite soon...
Probably not. Someone has to carry the basket for the 'other side' so as to make it look real. It's theatre, as always.
Thanks for the link; that really clears it up!
Thanks for the link; that really clears it up!
Boone Pickens said on Friday that he didn't expect the Saudi's to do anything drastic until the SAOGE takes place in six weeks. He thinks the Saudi's will drive the price down into the 70's but doesn't see it going into the 60's unless the "Saudi's decide to teach the frackers a lesson"
"defence contractors" killed and injured in SA? sounds like an op went bad...
lemme ask this first, does that mean IS is growing in SA now?
Looks like the Saudi fascists are about to get sledge hammered in co-opting with the DC fascists in this smash. Won't be long now.
This is all very interesting. I'm sure that the House of Saud is doing its level best to keep a tight lid on the Shia in country. And what better way to do so than by extending the boundaries of a "friendly, like-minded" state (ISIS/ISIL/Whatever). The shia are on the rise in Iraq, and ostensibly working hand in hand with the Iranians (direct competition for oil), while the Kurds just want to be Kurds and probably wouldn't care if Saudi Arabia ceased to exist. The Israelis benefit from the current situation as Hezbollah (Shia) is getting outgunned by the Sunni ISIS in in Syria. My guess is that ISIS will make a venture into Lebanon to oust Hezbollah at some point (probably with a little logistical help from Saudi Arabia/Jordan/Israel/US) just to spite Iran/Russia.
Fuck the Saudis.... we should stop buying their oil, start buying a lot more of Russia's and Iran's for that matter, and suggest to the ISIS rank and file via flyers {to get around their agency hanlers} that if they decide to attack the House of Saud, we won't get in their way.
The Covert Origins of ISISWhat? I thought the picture was of Bono.
C'mon prince and run a deficit ...everybody loves debt
does need a make over, looks like some frreeeeeky molester .... needs a buddy for that foto op, like that childish gimp in N korea, hop-a-long fatty
Maybe they'll stop funding extremists: http://en.wikipedia.org/wiki/State-sponsored_terrorism
The glasses make him look like he's going really fast.
Listen Zero's.
Do you really think there is "MUCH" left in Saudi?
Think Zero's, think....
I'm trying, but it's just so hard.
Can you keep doing it for me?
Listen?
What's with all the "listen"?
You don't write anything worth listening to. And most of the people I've met who start out every conversation with "Listen.." have the I.Q. of a three pound dirt clod.
And I don't mean that in a bad way...
A story of value.
Once upon a time there was an idiot that didnt listen. Every time he wrote something, he tried to remember to listen by writing it first before his blatherings. As hard as he tried to make a cogent value add comment he couldnt pay attention. In the background on looping back to back play were the movies "Owww my Balls" and "ASS".
No value was added and the balls and ass rolled on.
The end.
RIPS
Their breakeven price is too high .
$86 vs $72 per barrel .
Calculate it for yourself :
See
https://www.academia.edu/8770429/Optimal_Markups_for_Sustainable_Growth
Is Saudia Arabia going to try to print instead of pump???
Or do they have the word of the US Fed to print for them?
Saudis are hedged with derivatives. Saudis are being asked to over-produce to bankrupt Russia and to provide a boost to the US economy.
Same thing happened from 1980-2002. I'll bet the Saudis have bought 20+ years of protection already - having locked in a price of $90 for the next 20 years while the actual price falls back down to $10.
Its not the Saudis who will suffer but some dumb counter-party.
Listen Madcow.
Are you saying that they sold the 2034 contract for the entire worth of a 20 year production cycle? Or are they rolling that into each current contract.
Both different in terms of profitability, and in each case totally impossible at that scale.
Think Zero's, think!
LISTEN,,
first off, i wanted to apologize for making you cry yesterday..
im sorry, banger...i didnt mean to embarrass you...
everyone's talking about...
how i made a wannabe troll cry...
now...did you study MillionDollarBonus 's work like i told you to...
i want to see you grow up and be a real troll...with a real bridge...
Listen Grandpa.
Didn't get your Lithium prescription filled yet, did you?
LISTEN...
did you say hi to your SNAGGLE TOOTHED, "POKE SALAD ANNIE" looking sister for me...tell her to stop calling me!
im not going to SHAVE HER BACK AGAIN!....you do it!
Careful Cptn.
If he wastes much more of your time, he gets a raise.
RIPS
When I shave her back, I use the rusty lid to a tuna fish can.
She likes that.
Famous quote about oil revenues in the Middle East
"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel”[
A Classic.....
Does not Alaweed look a lot like Mr. Panos? Surgically separated at birth me thinks.
www.traderzoo.mobi
Saudi propaganda.
They will kill the price of oil and then blame "HFT" for it
Fuck the Saudi's, funders of terrorists and perpetraitors of 9/11/
9/11?
Nope - that was the Pentagon's sayanim and Israel.
But there surely will be an effort to pin the blame on the Saudi, and obfuscate the clear role of the Silversteins, Wurmers, Feiths, Wolfowitzes, and so forth.
Silly boy....unless you're being deliberately tendentious. The Saudies bankrolled it and provided some patsies but the operation was organized and implemented by a joint team of criminals in on the one hand the American Government and 'security' services and on the other the Israelis and "American" dual citizens like this guy. http://irishsavant.blogspot.ie/2014/07/the-talented-mister-zakheim.html
IS(CIA)IS = Al KIDYA NOOSE FRONT = BANKSTERISTAN
price cuts are good for the working man, not for those in debt and/or graft
https://www.youtube.com/watch?v=iIGKlicb8n0
In other words, Hookers and Blow don’t come cheap you know, and don’t even think for one second that I’m giving up my penthouse apartments in London, New York, Los Angeles,….
Prince Alwaleed bin Allthetimeonweed.
Keep on squeezing Russia and you may end up with Russian boots on the ground in Syria in support of the US(ha ha ha ) fighting the ISIS and accidently blow up Saudi's oil wells.
Nothing would give me greater satisfaction than seeing that ghastly country (SA) go up in flames.
This is the first time y'all have seen this weirdo?!! The reason he's speaking is bc he's a sort of Saudi representative of western interests. I'm sure he plays both games, but you'll see him daily on the more esoteric talk shows being obv more American interest than Saudi interest. Although you won't read any of this in the media. This guy has sold his demon Saudi soul to the demon west. I believe the proper term for this turtlenecked guru is 'succubus'.
typo....'INCUBUS', duh.
" Saudi's budget breakeven oil price is $86.1 in 2014,"
If I had more time to follow oil production statistics, I would know what breakeven oil price is for American and Canadian "fracking" and "tar sands" operations was. But, did Washington really consider what using Saudi to drive prices down would do to these new and very expensive, and highly leveraged operations? The energy out for energy in of these sources are ever so much higher than Saudi Arabia where it simply is well head valve turning at this point.
Yet I hear nothing from North American producers, has Washington DC police state government ordered these price sensitive producers to shut up. Is government bailing them out under the table to cover their losses in a new low oil price period.
Some people reacted with joy to Washingtons genius plan to destroy Russia with low oil prices. I give that a 10% chance to work, why? Because, Washingon seems all powerful, but oil producers will not sit by, do nothing and let one nation Saudi Arabia attempt to fuck them. Just wait, the wheels are turing in other prodcuer nations, plans are being formulated, to bring oil back up to where it was.
The Saudi Prince will be 'astonished' when American tanks (errrr-captured Anerican tanks) - roll across the Saudi border with the ISIS hoards.
I'm not familiar with the Prince, so I looked up "douchebag" in the dictionary, and they had his picture.
Without Euro Disney to prop up their schemes, and without Saud oil backing...what will Mutti and Mario do on the weekends ? How will they rule over fantasyland ?
http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/11156949/Walt-Disney-backs-1bn-refinancing-of-Paris-theme-park.html
"Sandwiched Alwaleed"; that is the new Zeitgeist of Saudi Kingdom geopolitics now hitting the Oil Market.
Assuming its Halal (which I doubt as its full of western WS fried fiat bacon).
How to be a member of royal family caught in the increasing divide of Crazy America's great geo-political splits on the Syrac issue; where the Kurds are now being treated by USA's "greatest ally" and Nato partner as : "expendable turds" ! Now who is playing at "inglorious basterds" in this new Oligarchy movie?
Between the ISIS and the Kurds we know where our interests lie! Whispers the WS clique and Turkish partners. After all ISIS, or Caliphate, is wife of Orisis, and Orisis is the other kingdom where we decapitate in name of Allah !
So "Sandwiched Alwaleed" is in the middle of dystopian US policy now playing out. And what the MIC concocts, the Oil lobby does in similar " head up ass" logic : Cheap Oil, even if hell freezes over!
Whence Sandwiched Alwaleed's anguished cry : Its my MONEY or my LIFE you guys are putting in the balance and I don't like it!
Ditto the US Eagleford and Shale plays brigade! If oil falls to minus 80 on a LT basis, we are truly phukked! So Putinistan is not the only kingdom that falls....You have to know what you want...
But can you? When thieves fall out and the fog of war prevails!