An interesting debate and some good points made. It looks like the Gold price is being positioned for the FOMC talk fest.
Oil, water and blood.
Sounds like something Shakespeare would be working on today if he was around.
It would appear that the powers that be are having a few problems moving through their agenda these days; however, no doubt they will have contingency plans.
When it comes down to it business is just business after all, a little civilian collateral damage is by and large generally accepted in these matters. Was it from the Godfather movies I recall the line: “It’s nothing personal it’s just business.”
It’s taking a great deal of water injection these days to keep the Ghawar oil field producing and it may no longer hold the top production spot I think that may now belong to Gazprom and Mr P.
I also take note that we now have another ME country with nuclear aspirations. Don’t they watch television over there and see the problems Iran is having getting its nuclear program underway? You can’t have nuclear power these days without Uncle Sam’s permission.
http://www.theoildrum.com/tag/ghawar
“Global demand for Saudi Arabian oil has been continuously dropping, Saudi Prince Alwaleed bin Talal says”
Prince Alwaleed, one of the world’s richest men with an estimated fortune of more than $20 billion.
He also called on Saudi authorities to prepare plans to generate nuclear and renewable energy to "reduce local consumption of oil as soon as possible".
In the current ME atmosphere I doubt that any government would be foolish enough to use a chemical weapons attack against a neighbouring county particularly if that country had close ties with the USA.
Even if this was not really the case but it looked that way I wonder if the public would buy it.
For those that think the USA is on the mend and that shale oil and fracking methods will bring about the next bonanza I highly recommend the movie: H2oil
