Saudi Family and Al Queda
For years we have all brushed aside the fact that Saudi Arabi is perhaps the biggest supporter of Islamic terrorism in the world but. Being that the largest consumer of oil in the world gets its crude oil almost exclusively from the Saudi royal family is the United States; the United States is handing over billions to a cartel that threatens our existence. This article only highlights that fact but what I would like to head light on is a sort of anti-hero in this narrative. For 30 years this monopoly has been setting the price of crude oil to their own wishes and generating huge revenues at the American gas pump. The irony is that the United States is also a giant producer of oil.
As the Saudis have raised oil barrel prices to monumental proportions in the past 5 years they have become very rich at our expense. However, this price made it possible for American oil companies to venture into a very expensive method of drilling called "fracking." Now that difficult wells have been punctured in this country by this method, U.S. companies can begin producing at a competitive pace with OPEC. This flooding of the market with oil to plummet the price is symptomatic of desperation on the part of the Saudi kingdom but as we keep buying oil in America it will only benefit the western world with this kingdom as a second rate producer.
GOOD! The government needs to lighten up on domestic oil companies. The more oil domestic companies produce, the more tax money the government will get anyways. Its good to know that more oil is being produced domestically and that OPEC is dropping prices in response to this.
ReplyDeleteWhen I try to learn more about the relationships of our government with foreign governments concerning oil, it always makes me upset. I can read and read all day long and find so many conflicting reports and conspiracy theories all of which make me question a whole lot more. I think the world needs to focus on other sources of energy considering oil is not going to be around forever.
ReplyDeletehttp://www.globalresearch.ca/obamas-secret-deals-with-saudi-arabia-and-qatar-whats-behind-lower-gas-prices-and-the-bombing-of-syria-and-eastern-ukraine/5412311
http://www.bloomberg.com/bw/articles/2014-06-19/why-teslas-elon-musk-doubed-down-on-solar-with-solarcity-deal
Of course my question is why hasn't the US explored all of our untapped resources off shore and in some very small confined locations in Alaska!
ReplyDeleteThat must be a real "hush hush" story. Most of the men in my family were roughnecks and I've never heard anything about Alaskan offshore oil.
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