Here Comes The Saudi Denial

Tyler Durden's picture




 

The latest in this story:

  • Saudi oil officials says reports about attack on pipeline are untrue- Dow Jones

So someone is lying. And now we can go back to assuming that Saudi Arabia has limitless excess supplies of crude.

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Thu, 03/01/2012 - 17:02 | 2214422 Flakmeister
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Fade the rally.....

Thu, 03/01/2012 - 17:05 | 2214436 markmotive
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Conventional crude production has barely budged for several years now. Some say the peak occured in 2004.

When Saudi goes we all go.

Oil will continue rising until the economy breaks: http://www.planbeconomics.com/2012/02/24/passport-capital-oil-won%e2%80%99t-stop-until-the-economy-breaks/

Thu, 03/01/2012 - 17:08 | 2214469 hedgeless_horseman
Thu, 03/01/2012 - 17:08 | 2214481 trav7777
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what rumor, that C&C didn't peak in 2004?

Thu, 03/01/2012 - 17:12 | 2214519 hedgeless_horseman
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"Fire in the oil pipeline between awamiyyah and safwa," rumor has been circulating for many years.

Thu, 03/01/2012 - 17:18 | 2214568 Cocomaan
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I looked but didn't see what you were talking about. Can you elaborate? 

Also, the Arab Digest is citing demonstrations in the area. 

Thu, 03/01/2012 - 17:23 | 2214586 hedgeless_horseman
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Google search for "fire in the oil pipeline between awamiyyah and safwa" older than 3 days and you will see that "dissidents" have been spreading this rumor, VERBATIM, since at least 2008. 

Probably a false flag attack to blame "oil speculators" for rising oil prices.

Thu, 03/01/2012 - 17:24 | 2214594 Cocomaan
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Did you go to those websites? They seem to be aggregators of some kind. My Web of Trust plugin rejected them.

Thu, 03/01/2012 - 17:28 | 2214609 Cocomaan
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Yeah, just confirmed this. The google results that say they are years old are, for the most part, using news stream plugins that are updated in the google results.

Unfortunately, I don't think that's reliable at the moment. But then again, neither is PressTV. 

Thu, 03/01/2012 - 17:33 | 2214634 hedgeless_horseman
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Saudi officials deny it.  You can trust government officials to always tell the truth about things like this. 

Thu, 03/01/2012 - 17:34 | 2214639 Cocomaan
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Oh, without a doubt. 

Thu, 03/01/2012 - 20:56 | 2215269 Buck Johnson
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Deny Deny and more Denial.  They know it was attacked, so what they are doing is making the world know that everything is Saudi Arabia is controlled and you haven't a worry about the oil.  This country peeked a long time ago and now they are fronting and saying we can meet any quota or no on can attack us.  We will see and everybody knows that Saudi Arabia is afraid of becoming a desert again.

Thu, 03/01/2012 - 17:08 | 2214491 Azannoth
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It's not a Pipeline burning(.. that would be preposterous!), it's was a Lightning strike setting sand on fire(and a few unlucky Camels nearby)!

Thu, 03/01/2012 - 17:12 | 2214524 Uncle Remus
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Wait - there's tar sands in SA too?!?

Thu, 03/01/2012 - 17:09 | 2214500 trav7777
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rally in what, everything is up!!

Thu, 03/01/2012 - 17:17 | 2214561 Flakmeister
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The S&P bounced hard at the end...not sure if it was the Saudi denial, the PPT or aliens that pushed the market higher....

Thu, 03/01/2012 - 17:04 | 2214425 Ahmeexnal
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Saudi Nile? Hmm....have they kidnapped a river?
But they could be telling the truth.
No pics/video of the actual pipeline exploding.
For all we know, it could be a burning bush in the desert.
G-D must be trying to communicate.

Thu, 03/01/2012 - 17:08 | 2214489 Bunker Boy
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Decrepit House of Saud: "I swear by Allah all is well! That is not a fire, it is a hukkah-party of our cousin Fahim."

Thu, 03/01/2012 - 17:14 | 2214539 Uncle Remus
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Ya Allah!

Thu, 03/01/2012 - 17:03 | 2214429 lolmao500
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Why would Saudi Arabia say that when they profit from higher prices??

Thu, 03/01/2012 - 17:10 | 2214466 dwdollar
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It's good for other oil exporters, not necessarily for the Sauds. You need to get the oil to the tanker in order to sell it.

Something like this could reveal that Saudi Arabia's vast oil reserves are myth.

Thu, 03/01/2012 - 19:20 | 2215012 Sabibaby
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Something like this could reveal that Saudi Arabia's vast oil reserves are myth.

 

Or it might help to cover it up... 

Thu, 03/01/2012 - 17:07 | 2214474 r101958
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So we don't intervene militarily to 'save' resources crucial to our national security.

Thu, 03/01/2012 - 17:14 | 2214521 DaveyJones
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lots of reasons, that things are under control, that their own are not restless, that their own have not figured out they've been lied to (as it should be obvious) and the supplies are much worse than admitted, that their own's future has been sold off at false numbers while the current Sauds live in luxury bathed in the fiction of perpetuity. (A lot like our 1% and our true debt picture).  Every producer has to eat more and more of their export. 

Thu, 03/01/2012 - 17:17 | 2214562 SelfGov
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Now that they're spending vast quantities of domestic oil to keep its own population from rebelling, higher prices aren't necessarily the best thing.

Thu, 03/01/2012 - 17:03 | 2214430 drink or die
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So the picture posted on previous thread in broad daylight (even though it's midnight in SA) was from a forest fire?

Thu, 03/01/2012 - 17:15 | 2214548 Uncle Remus
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Yeah - and those are Israeli fire-fighting tankers...

Thu, 03/01/2012 - 17:03 | 2214432 eBuddha
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i said this on both of the previous posts that this sounded like B.S.

i was selling all the way up and am buying back from the momo idiots now.

 

Thu, 03/01/2012 - 17:03 | 2214433 i love cholas
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Dow transports up 1% is a joke

Thu, 03/01/2012 - 17:03 | 2214434 taniquetil
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"All of the smoke and fire comes from the dragon we just resurrected"

Thu, 03/01/2012 - 17:03 | 2214437 PicassoInActions
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damn , if Saudi denying, should we find out who spread that rumor? was it done on purpose?

Thu, 03/01/2012 - 17:04 | 2214438 eBuddha
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it used to be the europeans fking with the close, now that that has calmed down somewhat, it's the ARABS turn.

 

Thu, 03/01/2012 - 17:07 | 2214441 Widowmaker
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Not another lie from the house of Saud-fraud.

 

Thu, 03/01/2012 - 17:18 | 2214482 Flakmeister
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.

Thu, 03/01/2012 - 17:04 | 2214442 Stoploss
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SCO

Thu, 03/01/2012 - 17:29 | 2214612 Cpl Hicks
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UCO

Thu, 03/01/2012 - 17:04 | 2214444 AbruptlyKawaii
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kose nanat madar jendehs!

Thu, 03/01/2012 - 17:04 | 2214447 bugs_
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We were burning some old books next to an unused sewage pipeline - sorry about that!

Thu, 03/01/2012 - 17:05 | 2214448 blu
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Blame JPM.

Thu, 03/01/2012 - 17:50 | 2214725 JPM Hater001
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Damnit now this is the second time this week someone has...

Oh, not me again.  Sorry.

Thu, 03/01/2012 - 17:06 | 2214461 Alethiometer
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Forget that they stopped publishing their estimate oil reserves a long time ago.  Sometimes pipes just burst into flames.  It's priced in.  Too bad the shoes people wear to walk to work instead of driving (because they can't) are made of oil too....

Thu, 03/01/2012 - 17:06 | 2214463 TideFighter
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I haven't found it yet, but a friend sent me an email from NY saying burning photo was a stock photo.

Thu, 03/01/2012 - 17:06 | 2214465 1835jackson
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Exponential growing demand for oil is the reason for price increases....well that and monopoly money we all use to buy it. Laws of market supply and demand are now working against everyone and we are all going to get a massive kick in the arse very shortly. The kind of kick that leaves a nasty black and blue bruise on yer arse cheek (|)

Thu, 03/01/2012 - 17:15 | 2214545 Alethiometer
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At least in Monopoly you can't build anymore houses when the bank is out of them ;)

Thu, 03/01/2012 - 17:16 | 2214553 CrashisOptimistic
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You do realize that is all synonomous with "not enough oil"?

Thu, 03/01/2012 - 17:07 | 2214471 Gene Parmesan
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1. find old picture of well or pipeline fire

2. buy oil

3. find a way to spread the picture/rumor

4. sell oil

5. ?

6. profit!

 

Thu, 03/01/2012 - 17:09 | 2214493 Bastiat009
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Oil has replaced Greece. Rumors and denials come from Riyadh now.

Thu, 03/01/2012 - 17:14 | 2214544 Motorhead
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And this fire should give, conversely, a place for the House of Saud to burn Bibles.

 

Thu, 03/01/2012 - 17:16 | 2214551 Uncle Remus
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Wait for it...

Thu, 03/01/2012 - 17:10 | 2214508 r101958
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All meant to make it ok to release from our SPR so that all will be good for election year.

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