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.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Flakmeister's picture

Fade the rally.....

markmotive's picture

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/

trav7777's picture

what rumor, that C&C didn't peak in 2004?

hedgeless_horseman's picture

 

 

"Fire in the oil pipeline between awamiyyah and safwa," rumor has been circulating for many years.

Cocomaan's picture

I looked but didn't see what you were talking about. Can you elaborate? 

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

hedgeless_horseman's picture

 

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.

Cocomaan's picture

Did you go to those websites? They seem to be aggregators of some kind. My Web of Trust plugin rejected them.

Cocomaan's picture

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. 

hedgeless_horseman's picture

 

 

Saudi officials deny it.  You can trust government officials to always tell the truth about things like this. 

Buck Johnson's picture

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.

Azannoth's picture

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)!

Uncle Remus's picture

Wait - there's tar sands in SA too?!?

trav7777's picture

rally in what, everything is up!!

Flakmeister's picture

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....

Ahmeexnal's picture

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.

Bunker Boy's picture

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."

lolmao500's picture

Why would Saudi Arabia say that when they profit from higher prices??

dwdollar's picture

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.

Sabibaby's picture

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

 

Or it might help to cover it up... 

r101958's picture

So we don't intervene militarily to 'save' resources crucial to our national security.

DaveyJones's picture

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. 

SelfGov's picture

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.

drink or die's picture

So the picture posted on previous thread in broad daylight (even though it's midnight in SA) was from a forest fire?

Uncle Remus's picture

Yeah - and those are Israeli fire-fighting tankers...

eBuddha's picture

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.

 

i love cholas's picture

Dow transports up 1% is a joke

taniquetil's picture

"All of the smoke and fire comes from the dragon we just resurrected"

PicassoInActions's picture

damn , if Saudi denying, should we find out who spread that rumor? was it done on purpose?

eBuddha's picture

it used to be the europeans fking with the close, now that that has calmed down somewhat, it's the ARABS turn.

 

Widowmaker's picture

Not another lie from the house of Saud-fraud.

 

AbruptlyKawaii's picture

kose nanat madar jendehs!

bugs_'s picture

We were burning some old books next to an unused sewage pipeline - sorry about that!

JPM Hater001's picture

Damnit now this is the second time this week someone has...

Oh, not me again.  Sorry.

Alethiometer's picture

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....

TideFighter's picture

I haven't found it yet, but a friend sent me an email from NY saying burning photo was a stock photo.

1835jackson's picture

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 (|)

Alethiometer's picture

At least in Monopoly you can't build anymore houses when the bank is out of them ;)

CrashisOptimistic's picture

You do realize that is all synonomous with "not enough oil"?

Gene Parmesan's picture

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!

 

Bastiat009's picture

Oil has replaced Greece. Rumors and denials come from Riyadh now.

Motorhead's picture

And this fire should give, conversely, a place for the House of Saud to burn Bibles.

 

r101958's picture

All meant to make it ok to release from our SPR so that all will be good for election year.