Jonathan Garber, FOX News: Saudi oil attack: The worst-case scenario
Oil prices were soaring Monday morning after a weekend drone attack, potentially conducted by Iran, knocked out more than half of Saudi Arabia’s production. West Texas Intermediate and Brent crude oils were both up more than 10 percent to $60.48 and $66.69, respectively as of 8:54 a.m. ET.
Saudi Arabia, OPEC’s most influential member and the world’s second-largest oil producer, accounts for more than 10 percent of daily crude oil production. A prolonged production stoppage or military conflict would have a big impact on oil prices and potentially dire consequences for the global economy.
“A full-blown US-Iran conflict” could cause oil to soar to $150 a barrel this year, according to London-based Capital Economics.
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WNU Editor: What's my worst case scenario. If it is proven that these attacks were launched from Iran, Saudi Arabia will need to respond, probably with military strikes against Iranian targets. From there the conflict becomes a full scale war with the U.S. becoming directly involved. The impact on oil exports and prices will be immediate, with global shortages and prices going through the roof.
3 comments:
Who could have planned this strike with such accuracy and timing? Someone planned it. Who were the drone "pilots" that carried out the attack?
Where are the interviews with people who saw the drones enroute? How about some video from all the remote cameras?
How many drones were used? Was this a formation of drones with sophisticated software programed to hit the targets within a certain timespan? Stealth drones? New generation? What explosives were they carrying?
Was this an inside job? Did someone, guide them in by painting the targets with lasers.
What kind of CAP was being flown and why was none of it where it should have been?
What kind of security can be brought to bear on drones?
The big story seems to be all about the price of oil. There are a lot of questions not being asked.
Why is that?
I'm curious.
11B19D
Im quessing president Trump is a lot smarter then to give Iran the war is has been so desperately asking for. Iran's Saudi actions are its best efforts at an economic counter strike is my opinion.
Anon,
Good questions. The tendency among US leadership is to overestimate our capabilities while underestimating those of adversaries and potential adversaries. To ask such questions, at least publicly, risks coming face to face with such things and undermines such misconceptions. This IMHO has much to do with why such questions aren't asked.
Amp1776,
I think you're guess is accurate. IMHO president Trump isn't just smart. He's brilliant. Now with the US as a major oil and gas producer we could be in q position to capitalize on this and grow our economy.
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