Energy Prospectus

I get a weekly newsletter from the Middle East that has "real news" in it. Our press is often clueless. See the note below. If ISIS attacks Saudi Arabia the price of oil will spike. - Dan

Nothing normally stands in the way of 91-year-old Saudi King
Abdullah’s annual three-month summer vacation. But this year,
he cut short his vacation in Morocco on June 21 after a month to
deal with the pressing matter of Iraq.
And it was just as well that he did. Thursday, June 26, he was
driven to summon a National Security meeting to deal with a
looming emergency. Saudi air force reconnaissance had
discovered Iraqi al Qaeda-linked Sunni fighters of ISIS – the Islamic State of Iraq and the
Levant – heading for the Saudi border and homing in on the Iraqi-Saudi crossing at Ar Ar.
This should not have been a surprise in a week in which ISIS and its Sunni allies grabbed
the Iraqi-Syrian and Iraqi-Jordanian crossings, strategic assets of even greater value than
the cities seized in their whirlwind two-week advance (to see full size map click HERE).
The Saudi king lost no time in declaring his armed forces mobilized and on a high state of
readiness to defend the kingdom against “terrorist threats.” That was on Thursday, the day
before US Secretary of State John Kerry was expected for a visit outside his travel schedule.

it's a powder keg over there, and Iraqi PM Maliki just announced he's tired of waiting on the delivery of F-16s and buying some Russian fighter jets ... along with events in Ukraine, it would appear Putin is outmaneuvering Obama again.

At this point the Keystone Cops could outmaneuver Obama. It is clear to me the guy has a terrible team and he would rather be playing golf.

dan_s wrote:At this point the Keystone Cops could outmaneuver Obama. It is clear to me the guy has a terrible team and he would rather be playing golf.

IMO Obama is correct to withdraw from the role of policeman of the world. Where he gets in trouble is talking nonsense to appease the media at the moment with whatever blather suits his immediate purpose.

America is broke and our domestic policies are broken. The last thing we can now afford is the role of world policeman. If the Saudis have a problem - give them the order book for the equipment they need. Let them pay for it and see if they have the stones to fight for their nation.

It is absolutely impossible for the US to resolve the conflicts within Islam. It took a Civil War in America to resolve the issue of slavery and the primacy of the federal government. Sadly, it may be the only thing that will resolve the mess in the ME.

Bob

I agree we cannot afford another war, primarily because of our unbelievable wasteful spending habits. I would sure hate to see the big oilfields in southern Iraq fall into the hands of the Iranians.

BTW I think we may have seen the last of sub-$100 oil, at least for this year.