GOOD NEWS - SAUDIS LOSE CONTROL OVER THE OIL MARKET
No, I do not enjoy paying more for oil than you do. BUT I am delighted with the implication of the Saudi loss of its ability to manipulate the price of oil. Why? Because that was the real source of its destructive power in the Middle East (since the 1968 Khartoum conference, the Saudi have been paying those who refused to make peace with Israel) and its influence in the US (based in part on paying off former American official connected with ME policy).
The Saudis are pumping and pumping and nothing. Already Senator Kerry is not afraid to run a 30 second campaign ad specifically directed at the Saudi royal family.
No one can hear the bell toll more clearly than that royal family. During the late nineties, I attended a lunch meeting with Hani Yamani where he argued that the Saudis should offer to sign a contract promising the US to supply it with all the oil it needs for fifty years at $10 a barrel. Why? In order to prevent the emergence of an economically viable alternative energy supply. Does anyone believe that with $50+ a barrel an alternative energy source is far away? Perhaps, that is the reason Putin signed Kyoto and the Bush administration agreed that their is danger of global warming. For it seems clear that the end of the era of fossil fuel is with us. The Chinese demand is not going to decline. In fact, the Indian one is bound to increase.
As I have always believed, G-d works in mysterious ways.
comments powered by Disqus
- ‘No Vacancies’ for Blacks: How Donald Trump Got His Start, and Was First Accused of Bias
- New Yorker profiles activist who's drawing attention to lynchings
- Wisconsin GOP senator wants to replace history professors with Ken Burns videos
- UT removes Confederate inscription that it previously said would stay
- The man behind the Smithsonian’s new African-American history museum
- Some Ohio University professors ditch the textbooks, and the prices
- Renowned Israeli Holocaust Historian: ‘If I Were a British Jew, I’d Be Worried’
- Heather Ann Thompson pries loose the long-kept secrets of Attica in her new book
- Lonnie Bunch remembers his first day on the job as director of the new black history museum
- Speaker Ryan loves pseudo-historian David Barton