AFP
WNU Editor: The Saudi's are getting nervous over President-elect Trump .... Saudi Arabia warns Trump on blocking oil imports (Financial Times). My guess is that the Saudi's are "freaking out" over these comments made during the campaign .... Trump says Saudi Arabia WOULDN’T EXIST without the US and threatens to stop buying its oil (Express).
Update: Saudi Arabia Warns Trump Not To Block Oil Imports (Zero Hedge)
5 comments:
I don't think 'warning him' will do anything other than encourage Trump to stop buying Saudi oil
Not buying Saudi oil would do more to thwart Islamic terrorism than pretty much anything we are currently doing. While it may not be the official position of the Saudi government to support Islamic terrorism, there seem to be many within its power structure who do. As such, the money from a certain percentage of oil purchases from the Middle East including Saudi Arabia will probably end up in the coffers of ISIS, Al Qaeda, or others who would wish to harm America and/or its people.
Not buying this oil would be extremely helpful. Furthermore if the US developed all of its own oil and gas reserves including aggressive utilization of fracking technologies and built the necessary refining capacity to handle this the United States could conceivably become the go to country in the world for oil perhaps even, in time, becoming the world's most powerful and influential country.
Maybe Saudi ought to reconsider the cut-off of oil to Egypt.
RussInSoCal,
I think you are correct. Saudi Arabia is in a very bad spot. Perhaps they need to consider playing better with others.
I was under the impression that the bulk of our oil imports were from Venezuala and Nigerea, with domestic capacity increasing at a rate never seen before.
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