The Briefing Room
General Category => World News => Topic started by: 240B on September 14, 2019, 04:17:41 pm
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Bloomberg
Javier Blas and Nayla Razzouk
September 14, 2019, 12:32 AM CDT
Saudi Arabia’s oil production was cut by half after a swarm of explosive drones struck at the heart of the kingdom’s oil industry, setting the world’s biggest crude-processing plant ablaze.
Saudi Aramco has had to cut production by as much as 5 million barrels a day after the attack on the Abqaiq plant, according to a person familiar with the matter. Iran-backed Houthi rebels in Yemen, who have launched several drone attacks on Saudi targets, claimed responsibility.
(more)
https://www.bloomberg.com/news/articles/2019-09-14/saudi-aramco-contain-fires-at-facilities-attacked-by-drones?srnd=premium
Gas/Oil prices going up.
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And we can thank President Trump that the United States is a net exporter of oil today. :yowsa:
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Who will be the first to blame Trump? blame America? blame capitalism? blame internal combustion engines? Blame lack of diversity?
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Saudi Arabia spends a large percentage of GDP on military hardware, but their forces are inept, due to the nepotism and favoritism, within the leadership and royal family connections. Iran is using Yemeni rebels as proxies to test this method in the event of conflict with Israel or the US. There was way too much coordination and precision for it to be a group of rebels, acting alone.
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Iraq denies its territory was used to launch attack on Saudi oil facilities
Retuers, Baghdad Sunday, 15 September 2019
Iraq denied on Sunday that its territory had been used to carry out attacks on oil facilities in Saudi Arabia, referring to drone attacks on Saturday that targeted Aramco oil installations in the Kingdom's Eastern Province.
Read more at: https://english.alarabiya.net/en/News/middle-east/2019/09/15/Iraq-denies-its-territory-was-used-to-launch-attack-on-Saudi-oil-facilities.html
Very short article, I hope we've got some proof if tensions rise more.
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Lawrence Person's BattleSwarm Blog 9/14/2019
Bad news for the world economy, good news for American oil producers:
Saudi Arabia’s oil production has been severely disrupted by drone attacks on two major oil facilities run by state-owned company Aramco, reports say.
Sources quoted by Reuters and WSJ said the strikes had reduced production by five million barrels a day – nearly half the kingdom’s output.
The fires are now under control at both facilities, Saudi state media say.
A spokesman for the Iran-aligned Houthi group in Yemen said it had deployed 10 drones in the attacks.
The spokesman, Yahya Sarea, told al-Masirah TV, which is owned by the Houthi movement and is based in Beirut, that further attacks could be expected in the future.
Snip.
Aramco is not only the world’s biggest oil producer, it is also one of the world’s most profitable businesses.
The Khurais oilfield produces about 1% of the world’s oil, and Abqaiq is the company’s largest facility – with the capacity to process 7% of the global supply. Even a brief or partial disruption could affect the company, and the oil supply, given their size.
More: https://www.battleswarmblog.com/?p=41924 (https://www.battleswarmblog.com/?p=41924)
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While I really HATE seeing all that oil going up in smoke,I LOVE seeing any sort of disaster hitting the Sauds.
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Aramco is not only the world’s biggest oil producer, it is also one of the world’s most profitable businesses.
Was.... at least for awhile.
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Was.... at least for awhile.
We interrupt this thread to bring you this public service announcement:
Don't forget to light a candle in front of the Baby Jesus' statue, @catfish1957 thanking God for sending us President Trump...otherwise, you'd be paying over $4 @ gallon this week.
Carry on...... :laugh:
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Ummm.... sanctions aren't gonna cut it. Remember how certain nations went under the table, ignoring sanctions, and traded with Saddam way back when? Well, they're doing the same thing now with Iran.
Just saw Trump say something really stupid about 'letting Iran be wealthy'. Why? Let them be dead. They just tried to muck up 10% of the world's oil supply and are "pirating" oil tankers. They are asking for it. I say give it to them. Good and hard.
The quickest past to peace in Yemen is continuing the pressure of sanctions until the Islamic Republic regime gives up their meddling or collapses.
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We interrupt this thread to bring you this public service announcement:
Don't forget to light a candle in front of the Baby Jesus' statue, @catfish1957 thanking God for sending us President Trump...otherwise, you'd be paying over $4 @ gallon this week.
Carry on...... :laugh:
Hate to tell you, but I am retired from an oil company (32 years), and $4/gallon gas would have me dancing in the streets.
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Hate to tell you, but I am retired from an oil company (32 years), and $4/gallon gas would have me dancing in the streets.
With no care or empathy for your fellow countryman.... many of whom make their living via either delivering goods or in mobile service industries, not to mention already struggling middle class workers having to go into debt just to gas up their vehicles to get to work...?
Add to that the rising cost of food and other necessities that will result from higher gas prices (to cover the increased costs of producers to consumers). People at poverty level incomes will be hurt the most. But you'd be dancing?
Disclaimer: I worked for oil companies most of my career too.
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A question I have, Sure we are exporting oil and gas stock now but aren't some of our refineries still dependent on Saudi crude and not capable of processing Permian Basin stock?
I also worked for Big Oil most my life (20 yrs) and am invested by 401K's, Shell, Getty, Pennzoil, Texaco (now Chevron).
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This facility in Abqaiq is in the northeastern part of Saudi Arabia. If rebels from Yemen were able to fly a drone all the way up there, across most of the peninsula, the Saudi Arabian air defense network really sucks. It wouldn’t surprise me at all, if these drones actually came from Iran, right across the gulf.
(https://s.yimg.com/lo/api/res/1.2/qVQqH41gMgxEc25QmyfU1g--~B/YXBwaWQ9eWlzZWFyY2g7Zmk9Zml0O2dlPTAwNjYwMDtncz0wMEEzMDA7aD00MDA7dz01NDQ-/http://1dhqyu3drpye39jm482ecnjl-wpengine.netdna-ssl.com/wp-content/uploads/2015/03/Saudi-Arabia-Fig-4.png.cf.png)
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I concur @edpc and the fact that we are still speculating at this point as to where the drones actually originated from is pure State Dept. BS, IMHO.
Let the Sauds clean their own damn house, for once.
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A question I have, Sure we are exporting oil and gas stock now but aren't some of our refineries still dependent on Saudi crude and not capable of processing Permian Basin stock?
@corbe
I am not sure "dependent" is the right word. Maybe "obligated by US Politicans with their hands in the robes of Saudi Royalty" might be more accurate.
Somebody tell the Bush Crime Family their phone is ringing.
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Iraq Denies Its Territory Was Used to Attack Saudi Oil Facilities
Basnews English 15/09/2019 - 14:52 Published in Iraq
ERBIL — The Iraqi government has refuted the reports claiming that its territory was used to attack two oil facilities in neighboring Saudi Arabia.
Earlier on Saturday, Abqaiq and Khurais oil plants in Saudi Arabia came under separate attacks which caused huge fire and disrupted oil production.
“Iraq denies the reports in the press and on social media that its territory was used to attack the oil facilities in Saudi Arabia with drones†reads a statement by the press office of Prime Minister Adil Abdul-Mahdi.
Read more at: http://www.basnews.com/index.php/en/news/iraq/546541 (http://www.basnews.com/index.php/en/news/iraq/546541)
That's the big question, satellite pictures of help? Or could one evade that by firing at night or under clouds?
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With no care or empathy for your fellow countryman.... many of whom make their living via either delivering goods or in mobile service industries, not to mention already struggling middle class workers having to go into debt just to gas up their vehicles to get to work...?
Add to that the rising cost of food and other necessities that will result from higher gas prices (to cover the increased costs of producers to consumers). People at poverty level incomes will be hurt the most. But you'd be dancing?
Disclaimer: I worked for oil companies most of my career too.
Comment was hyperbolic in nature, ....so no I wouldn't be dancing in the streets. OTOH, many of those so called countrymen buy into the AGW hoax, which is a direct threat to my investments. Seems you didn't bring that up.
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Comment was hyperbolic in nature, ....so no I wouldn't be dancing in the streets. OTOH, many of those so called countrymen buy into the AGW hoax, which is a direct threat to my investments. Seems you didn't bring that up.
Good to know. I have many friends (& family) that would be financially hurt by $4-5/gallon gas prices.
I wasn't really even thinking about any hoax, so.....
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I'm gonna fill up my 18 gallon tank today @ $2.18, just as a precaution.
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Several months ago Gatwick was shut down for a couple of days due to someone repeatedly flying a drone in Gatwick airspace. They brought in some technology from Israel to handle the situation. The Saudi's probably aren't open to anything that would make Israel look good.
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I heard/or read, yesterday, it is likely Iranian's short range missiles were used.
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I heard/or read, yesterday, it is likely Iranian's short range missiles were used.
An obvious act of war, whether missiles or drones were used. Question is... what is anybody going to do about it? They will only get bolder and more destructive if not slapped down hard now.
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(http://www.bilgebucket.com/wp-content/uploads/boltontrump.jpg)
Problem is he fired his (alter ego), the Iran Slapper, last week.
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(http://www.bilgebucket.com/wp-content/uploads/boltontrump.jpg)
Problem is he fired his (alter ego), the Iran Slapper, last week.
Hmmm.....good point. Let's see now.....
Bolton fired on 9/10.
Iranians attack Saudis four days later.
Could it be...
nah!
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(http://www.bilgebucket.com/wp-content/uploads/boltontrump.jpg)
Problem is he fired his (alter ego), the Iran Slapper, last week.
That honestly makes as much sense as anything.... luckily, Bolton's right hand man is still there.
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(http://www.bilgebucket.com/wp-content/uploads/boltontrump.jpg)
Problem is he fired his (alter ego), the Iran Slapper, last week.
Thank God he did.
We can support the use of retaliatory force by Saudi Arabia --- we can even arm them. But it's their oil wells, their neighborhood, their fight.
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Crude opens up $8/barrel.
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I'm gonna fill up my 18 gallon tank today @ $2.18, just as a precaution.
$2.18??? $2.34 is the cheapest around here.
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US ‘locked and loaded’ after attacks on Saudi Arabia, says Trump
The United States believes it knows who was behind the attacks on Saudi oil facilities and is “locked and loaded,†but is waiting for verification and for a Saudi assessment of responsibility before deciding how to proceed, US President Donald Trump said on Sunday.
“Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!†Trump said on Twitter.
Saudi oil attacks show Iran to blame, say US officials
The scope and precision of drone attacks on Saudi Arabian oil facilities show they were launched from a west-northwest direction rather than from Yemen to the south, where Houthi rebels claimed responsibility, senior US administration officials said on Sunday.
Read more at: https://english.alarabiya.net/en/News/gulf/2019/09/16/Scope-precision-of-Saudi-oil-attacks-show-Iran-to-blame-say-US-officials.html
I'd like to think we have incontrovertible proof that Iran did it... but I doubt it. If there is that proof, yes, the Saudis need to act.
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Error 404 (Not Found)!!1 (http://www.youtube.com/watch?time_continue=17&v=1km72ALhoA4#)
Joyce Karam
@Joyce_Karam
NEW: US Gov Declassified images of #Saudi Aramco Facilities attacked
• At least 19 points impacted
• High accuracy
• Attack inconsistent with weapon coming thru Yemen but Iran (via Iraq) HT @FirasMaksad
(https://pbs.twimg.com/media/EEiDaP-WkAAwwPa?format=jpg&name=small)
https://twitter.com/Joyce_Karam/status/1173332196595261440 (https://twitter.com/Joyce_Karam/status/1173332196595261440)
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Photos released by Trump administration show extent of weekend attack on Saudi oil industry. US officials say evidence now pointing towards cruise missile attacks from Iraq or Iran, not drone strikes from Houthis in Yemen. But no official assessments yet from DC or Riyadh.
https://twitter.com/DionNissenbaum/status/1173325850323890178
Cruise missiles NOT drones, this could really change the complexion of things, if they've got the evidence. I haven't heard this anywhere else.
There must be a lot of data they can study, this is significant info if so.
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Attack inconsistent with weapon coming thru Yemen but Iran
I’m guessing the attack was probably carried out by Iran and with equipment built based upon the US RQ-170 drone captured in 2011.
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debka.com (Israeli source not always dependable) has this as Cruise Missiles from Iraq but I think they are getting this info elsewhere:
US intel suspects Iranian cruise missiles hit Saudi oil facilities from Iraq base
Sep 15, 2019 @ 21:05 Iran strikes Saudi oil from Iraq, Israel, Trump administration
(https://s3-us-west-2.amazonaws.com/debka/wp-content/uploads/2019/09/15215745/Abqaiq-wreckage-of-a-Houthi-Qods-cruise-missile-C-14.9.191.jpg)
US intelligence experts are studying satellite images and other video evidence to track the source in Iraq of the major attack on key Saudi oil facilities on Saturday, Sept. 14. Their first discovery was that cruise missiles rather than drones struck the Saudi oil refineries at Abqaiq, the largest in the world, and its second largest oil field at Khurais – both in the kingdom’s Eastern Provinces. They have also confirmed that the missiles were launched from a pro-Iranian Iraqi Shiite militia base, despite Baghdad’s denials.
DEBKAfile’s military and intelligence sources report that the investigation is also using video coverage by local Saudis showing multiple cruise missiles coming from the north and heading across the border towards the targeted locations in eastern Saudi Arabia. On one, a missile was clearly shown flying over the main border crossing at Hafar al-Batin and shot down by a Saudi air defense missile, although Saudi officials, in reporting the attack – large and disruptive enough to reduce the kingdom’s oil production by five million barrels a day, nearly half its output – have said nothing about intercepting any offensive projectiles. The two images carried at the top of this item show the wreckage of Iranian cruise missiles shot down near the Abqaiq processing plant.
The attack represented a major spike in Iranian aggression against Saudi Arabia. Its import is shattering enough strategically to challenges Washington and Riyadh for a response in kind, namely a strike at Iran’s oil processing plants. The US and Saudi Arabia both possess the military resources for a comparable reprisal against Iran and will find it hard to evade this challenge.
More: https://www.debka.com/us-intel-suspects-iranian-cruise-missiles-hit-saudi-oil-facilities-from-iraq-base/ (https://www.debka.com/us-intel-suspects-iranian-cruise-missiles-hit-saudi-oil-facilities-from-iraq-base/)
So, that's why Iraq issued a denial, I had heard nothing about this, just some basics... most of the press stories still say "drones".
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If this was truly originated by Iran, then as the saying goes, sh** just got real.
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Thank God he did.
We can support the use of retaliatory force by Saudi Arabia --- we can even arm them. But it's their oil wells, their neighborhood, their fight.
Donald J. Trump
@realDonaldTrump
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!
5:50 PM · Sep 15, 2019·Twitter for iPhone
Yeah – I can’t wait to hear you do a 180 and justify action, if we take it, based upon this tweet.
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Saudi Arabia spends a large percentage of GDP on military hardware, but their forces are inept, due to the nepotism and favoritism, within the leadership and royal family connections. Iran is using Yemeni rebels as proxies to test this method in the event of conflict with Israel or the US. There was way too much coordination and precision for it to be a group of rebels, acting alone.
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Intuitive and perceptive.
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If this was truly originated by Iran, then as the saying goes, sh** just got real.
(https://pbs.twimg.com/profile_images/874276197357596672/kUuht00m_bigger.jpg) Donald J. Trump
Verified account @realDonaldTrump
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!
3:50 PM - 15 Sep 2019
https://twitter.com/realDonaldTrump/status/1173368423381962752
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I'm gonna fill up my 18 gallon tank today @ $2.18, just as a precaution.
(https://pbs.twimg.com/profile_images/874276197357596672/kUuht00m_bigger.jpg) Donald J. Trump
Verified account @realDonaldTrump
Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount....
....sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.
2:55 PM - 15 Sep 2019
https://twitter.com/realDonaldTrump/status/1173354645642764289
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And we can thank President Trump that the United States is a net exporter of oil today. :yowsa:
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We are a net exporter of both oil and LNG because of two technological breakthroughs:
* the development of hydraulic fracturing of shale, using liquids rather than explosives and
* the development of both diagonal and horizontal drilling techniques.
Both occurred around 1947 when Trump was 1 years old!!!!!
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Hate to tell you, but I am retired from an oil company (32 years), and $4/gallon gas would have me dancing in the streets.
Yeah, when gas was $4+ I could afford it.
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We are a net exporter of both oil and LNG because of two technological breakthroughs:
* the development of hydraulic fracturing of shale, using liquids rather than explosives and
* the development of both diagonal and horizontal drilling techniques.
Both occurred around 1947 when Trump was 1 years old!!!!!
The Bakken boom was well under way long before Trump took office (GWB administration), and persisted in spite of Obama, partly because the majority of Bakken/Three Forks development is on private land, and privately owned mineral rights.
I was working Bakken wells in Elm Coulee Field (MT) in 2000, and later in North Dakota, where the boom became big news about 2006. Our big problem was one of takeaway capacity, and while everyone hoped the Keystone XL pipeline would alleviate some of that, it's still being stonewalled in the courts.
Another pipeline, the Dakota Access Pipe Line (DAPL) had run afoul of not only the usual ecowhackos but the Obama Administration as well, and later the "Water Protectors" of the Standing Rock Sioux, who hoped to extract money to shut up after the company building the pipeline decided they could go around the reservation cheaper than cut across a corner of it. That protest caught fire in the news, attracting the radical enviros, Hollywood types, and the whole protest thing got out of hand, especially for a pipeline that didn't pass through tribal land and had over 100 minor reroutes to preserve 'cultural resources', a euphemism for 'any place someone might have camped out' back when.
When the protests were shut down, the water protectors only left behind some 720 semi loads of trash and debris, a human body in one of the creeks, and millions of dollars in damages to public and private property.
What Trump did do:
Stopped the stonewalling on the completion of the DAPL (allowing over 500,000 BOPD to exit the Williston Basin on its way to refineries by pipeline, once completed). Consider that is only a fraction of the 1.4 million barrels of oil produced in the State daily, the rest must leave by train or truck, and other pipelines would help. They are in the works, and this administration is more likely to permit infrastructure to be built than the previous one.
The development of horizontal drilling methods that allowed 9500 ft. or more of a target zone to be opened up that would only have been 20 ft. thick in a single vertical wellbore is the tech that made that boom possible. Hydraulic fracturing went hand in hand with that tech, but no one ever used explosives to frac a horizontal well here, only to perforate liners and casing.
The things involved were:
MWD technology to get survey data to surface in a few minutes instead of a couple of hours, and tools to provide continuous gamma ray readings for navigation, geologically.
Mud motors which were more reliable and durable.
Bit technology which could survive the demands of being run at speeds of 120+ RPM in often abrasive environments, for days on end.
(Specifically, PDC bits which could survive in carbonate formations and siliciclastics. )
Top drive rigs (as opposed to Kelly Rigs) and changes in drilling techniques which saved time.
Later, walking rigs which could move from wellhead to wellhead on a multi well production pad without being dismantled.
I worked my first horizontal well with MWD in 1990, a lot later than 1947, although the tech we used was used in the 80s.
Consider we were using the 'cutting edge' laptops and desktop computers available then, commonly running Windows 3.11 or 95 or 98SE. Now you can almost do more faster with a decent smart phone.
While there were directional drilling techniques prior to the development of MWD tools (which required computer development only dreamed of in the 40s), they used mechanical or film type survey tools which required a considerable wait as the tools were sent to bottom and extracted on wirelines inside the drill pipe before drilling could proceed. Drilling a directional or horizontal well back then was an expensive proposition, today the frac job costs more than the hole.
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Iraqi prime minister receives phone call from U.S. secretary of state
by Mohammed Ebraheem Sep 16, 2019, 12:20 pm
(https://www.iraqinews.com/wp-content/uploads/2018/10/5bae50cb95a597623d8b4620.png)
Iraqi Prime Minister Adil Abdul-Mahdi
Baghdad (IraqiNews.com) – Iraqi Prime Minister Adil Abdul Mahdi has received a phone call from U.S. Secretary of State Mike Pompeo on Monday, his office said in a brief statement on Monday.
Abdul Mahdi’s office did not specify what was discussed in the phone call.
Read more at: https://www.iraqinews.com/features/iraqi-prime-minister-receives-phone-call-from-u-s-secretary-of-state/ (https://www.iraqinews.com/features/iraqi-prime-minister-receives-phone-call-from-u-s-secretary-of-state/)
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That's the thing, where the refinery was hit came from the North, Yemen is to the South. They are sizing up the "impact" points.
One official said there were 19 points of impact on the targets and the attacks had come from a west-north-west direction - not Houthi-controlled territory in Yemen, which lies to the south-west of the Saudi oil facilities.
...
Officials quoted by the New York Times said a mix of drones and cruise missiles might have been deployed,
https://www.bbc.com/news/world-middle-east-49712417 (https://www.bbc.com/news/world-middle-east-49712417)
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Kuwait says it's probing drone sighting, working with Riyadh
Thomson Reuters Foundation
DUBAI, Sept 15 (Reuters) - Kuwait is investigating the sighting of a drone over its territory and coordinating with Saudi Arabia and other countries after Saturday's attacks on Saudi oil plants, the cabinet said on Sunday.
"The security leadership has started the necessary investigations over the sighting of a drone over the coastline of Kuwait City and what measures were taken to confront it," the cabinet said on Twitter account.
It said Prime Minister Sheikh Jaber al-Mubarak al-Sabah directed military and security officers to tighten security at vital installations in the Gulf OPEC producer and to take all necessary measures "to protect Kuwait's security".
http://news.trust.org/item/20190915145937-8xvxw (http://news.trust.org/item/20190915145937-8xvxw)
Again, a possible indication the attack did not come from the South but the North, on top of that, we are in Iraq, if it could have come from there. Making things hotter to begin with.
No endorsement here, just some tweets to see what people are thinking:
Tulsi Gabbard
@TulsiGabbard
.@realDonaldTrump
Trump awaits instructions from his Saudi masters. Having our country act as Saudi Arabia's bitch is not "America First."
Donald J. Trump
@realDonaldTrump
· 13h
Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are waiting to hear from the Kingdom as to who they believe was the cause of this attack, and under what terms we would proceed!
https://twitter.com/TulsiGabbard/status/1173434704302751744 (https://twitter.com/TulsiGabbard/status/1173434704302751744)
Glenn Kirschner
@glennkirschner2
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18m
Strange, indeed. How is it that 10 drones in a coordinated attack could not be detected and stopped by Saudi Arabia’s defenses? Was this an oil-price manipulation by Saudi Arabia? Before any investigation was conducted, before any reliable evidence was developed . . .
BLACKSTEM Global
💡
🔬
🌼
@BLACKSTEMUSA
· 46m
Replying to @glennkirschner2
We think there's something strange about this Saudi attack. People are jumping on the bandwagon that Iran attacked the oli storage w/out a single piece of evidence. Drone experts haven't definitively said what path was flown to attack. No one has explained anything.
https://twitter.com/glennkirschner2/status/1173564139236728837 (https://twitter.com/glennkirschner2/status/1173564139236728837)
Strikes all in identical areas, that is kind of interesting:
(https://pbs.twimg.com/media/EEk5tVrXsAAuD_g?format=jpg&name=small)
Beto O'Rourke
@BetoORourke
As President I will not go to war for Saudi Arabia, nor will I let Saudi Arabia dictate our foreign policy.
https://twitter.com/BetoORourke/status/1173429569120026624 (https://twitter.com/BetoORourke/status/1173429569120026624)
Who's that guy?
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And we can thank President Trump that the United States is a net exporter of oil today. :yowsa:
We are an exporter of oil and oil products. We are NOT a NET exporter of oil, or of oil and oil products.
U.S. Net Imports of Crude Oil and Petroleum Products
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M)
U.S. Net Imports of Crude Oil
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRNTUS2&f=M)
@DCPatriot
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----------------------------------
We are a net exporter of both oil and LNG because of two technological breakthroughs:
* the development of hydraulic fracturing of shale, using liquids rather than explosives and
* the development of both diagonal and horizontal drilling techniques.
Both occurred around 1947 when Trump was 1 years old!!!!!
We are an exporter of oil and oil products. We are NOT a NET exporter of oil, or of oil and oil products.
U.S. Net Imports of Crude Oil and Petroleum Products
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M)
U.S. Net Imports of Crude Oil
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRNTUS2&f=M)
@Absalom
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Any surprise US retaliation will be coordinated and executed by the new security advisor, Mike Pounce.
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That's the thing, where the refinery was hit came from the North, Yemen is to the South. They are sizing up the "impact" points.
I know a lot of reports are calling this a refinery but it is not. It is an oil processing center. It is not a part of the business making fuels. It is a chokepoint for getting oil to any market, export or domestic refinery. The plant has a crude oil processing capacity of more than 7 million b/d.
A refinery would have a smaller impact to the global market than this oil processing center.
(https://www.eia.gov/beta/international/analysis_includes/countries_long/Saudi_Arabia/images/oil_gas_infrastructure_map.png)
SAUDI ARABIA
Overview
https://www.eia.gov/beta/international/analysis.php?iso=SAU (https://www.eia.gov/beta/international/analysis.php?iso=SAU)
then scroll down to:
Petroleum and other liquid fuels
Oil processing
Refining and petrochemicals
There are no refineries in Abqaiq. Abqaiq is the world's largest oil processing facility and crude oil stabilization plant.
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Aramco now focused on restoring production
http://saudigazette.com.sa/article/577398/SAUDI-ARABIA/Aramco-now-focused-on-restoring-production (http://saudigazette.com.sa/article/577398/SAUDI-ARABIA/Aramco-now-focused-on-restoring-production)
...The latest attacks on the Kingdom's oil facilities in the Eastern Province resulted in the halt of an estimated 5.7 million barrels of crude oil supplies, or about 50 percent of Aramco’s production, Energy Minister Prince Abdulaziz Bin Salman said on Sunday.
The attacks also caused a halt in associated gas production of about two billion cubic feet per day, he confirmed in a statement carried by the Saudi Press Agency....
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@thackney
The US has enough oil production not to need oil from Saudi Arabia. Countries France and England, others, cannot exist without Aramco's oil. Appears it is Iran who sent missiles (not drones) to the Aramco oil production/processing. Iran has to be stopped or they will do this again at any time. I am sure we and our allies, including Israel, are developing plans to take out Iran's ability to send missiles. This will either be a "small" war or "larger" war.
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Any surprise US retaliation will be coordinated and executed by the new security advisor, Mike Pounce.
Actually any US involvement will be coordinated with the Saudis and executed on the CIC's instructions.
I have my doubts that the Saudis will be flying sorties with the US Air Force. I think we'll be behind the scenes augmenting the war machines of SA and other ME nations (sans Israel ... for the same reason the Saudis won't be seen fighting side by side with the US).
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Donald Trump Authorizes Release of Strategic Oil Reserves After Attacks on Saudi Oil
https://www.breitbart.com/politics/2019/09/15/donald-trump-authorizes-release-strategic-oil-reserves-after-attacks-saudi-oil/ (https://www.breitbart.com/politics/2019/09/15/donald-trump-authorizes-release-strategic-oil-reserves-after-attacks-saudi-oil/)
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From yesterday ...
(https://pbs.twimg.com/profile_images/874276197357596672/kUuht00m_bigger.jpg) Donald J. Trump
Verified account @realDonaldTrump
Based on the attack on Saudi Arabia, which may have an impact on oil prices, I have authorized the release of oil from the Strategic Petroleum Reserve, if needed, in a to-be-determined amount....
....sufficient to keep the markets well-supplied. I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States.
2:55 PM - 15 Sep 2019
https://twitter.com/realDonaldTrump/status/1173354645642764289
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@thackney
The US has enough oil production not to need oil from Saudi Arabia. Countries France and England, others, cannot exist without Aramco's oil. Appears it is Iran who sent missiles (not drones) to the Aramco oil production/processing. Iran has to be stopped or they will do this again at any time. I am sure we and our allies, including Israel, are developing plans to take out Iran's ability to send missiles. This will either be a "small" war or "larger" war.
We still get about 500 thousand barrels a day, but yes, that oil can be replaced. Easily drawn from Strategic Petroleum Reserve as an immediate replacement. Plenty of oil for that to long term replace while they make repairs. And of course, other domestic production currently being export but most of that is light, sweet. Most of the Saudi oil is sour.
Asia will see a much bigger impact, far larger than Europe, which is still larger than the US.
(https://www.eia.gov/beta/international/analysis_includes/countries_long/Saudi_Arabia/images/crude_oil_exports.png)
(https://www.eia.gov/beta/international/analysis_includes/countries_long/Saudi_Arabia/images/refined_product_exports.png)
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US said to accuse Iran of launching cruise missiles, drones at Saudi oil sites
By TOI staff and AP 9/16/2019
https://www.timesofisrael.com/us-said-to-accuse-iran-of-launching-cruise-missiles-drones-at-saudi-oil-sites/ (https://www.timesofisrael.com/us-said-to-accuse-iran-of-launching-cruise-missiles-drones-at-saudi-oil-sites/)
The official claimed that about a dozen cruise missiles and 20 drones were launched from Iran in the attack.
The US government produced satellite photos Sunday showing what officials said were at least 19 points of impact at two Saudi energy facilities, including damage at the heart of the kingdom’s crucial oil processing plant at Abqaiq. Officials said the photos show impacts consistent with the attack coming from the direction of Iran or Iraq, rather than from Yemen to the south.
The US officials said additional devices, which apparently didn’t reach their targets, were recovered northwest of the facilities and are being jointly analyzed by Saudi and American intelligence.
More at link.
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(https://pbs.twimg.com/profile_images/874276197357596672/kUuht00m_bigger.jpg) Donald J. Trump
Verified account @realDonaldTrump
Remember when Iran shot down a drone, saying knowingly that it was in their “airspace†when, in fact, it was nowhere close. They stuck strongly to that story knowing that it was a very big lie. Now they say that they had nothing to do with the attack on Saudi Arabia. We’ll see?
6:15 AM - 16 Sep 2019
https://twitter.com/realDonaldTrump/status/1173586320943456258
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Even if he's a Dem, this is probably correct. There have been a lot of complaints about how the Saudis have run the war in Yemen, even UAE pulled out:
Chris Murphy
@ChrisMurphyCT
11/ Bottom line: the Saudis sowed the seeds of this mess. They marginalized the Houthis in the 80s and thru the 2000s wars. They bungled the prosecution of the post 2015 conflict. Houthis/Iranians have blood on their hands too, but the U.S. should not be a part of this disaster.
10/ Over time, a dangerous game of escalating behavior has developed. Saudis kill a bunch of Houthi civilians, then the Houthis launch an attack in Saudi Arabia. The latest attack on the Saudi refinery follows a Saudi attack on Dhamar prison which killed 100 people.
...
5/ In the 2000s, Saudi backed Yemeni governments carried out 6 separate wars against the now rebelling Houthis. Bush opposed most of these wars, believing the anti-Houthi campaigns to be doing more harm than good, especially as the Houthis began to reach out to Iran for help.
...
3/ The Houthis are a group of Shia tribes in northern Yemen who practice a distinct form of Islam called Zaidism. In the 1980s, the Saudis began a campaign to push Sunni Wahabism into Houthi areas, creating massive friction with Houthi communities.
Show this thread
2/ The conflict btwn Saudi Arabia and Yemen roughly dates from the 1932 founding of Saudi Arabia, when the new kingdom took territory from Yemen in a war set off by a border dispute. The Saudis has attempted to influence Yemeni affairs every since.
1/ Okay, in a few tweets I'm going to try to explain what's going on in Yemen today, so you have some knowledge to counter this claim that America needs to bomb Iran because the Houthis bombed Saudi Arabia. It's complicated, but now you need to know.
Full series at: https://twitter.com/ChrisMurphyCT
Debka posted that Houthis did this from Iraq. It's a very coordinated attack.
Out of Yemen, we've heard of famine, cholera as Murphy refers too and a number of bombing strikes hitting civilians. Saudis egged on this strike. The Houthis haven't been doing this for no reason at all.
It is important to note, what the prologue of all this is.
And so we lost about 5% of what the world uses for oil and fairly quickly, the Saudis will be able to restore about a 3rd of that.
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Donald J. Trump
@realDonaldTrump
Because we have done so well with Energy over the last few years (thank you, Mr. President!), we are a net Energy Exporter, & now the Number One Energy Producer in the World. We don’t need Middle Eastern Oil & Gas, & in fact have very few tankers there, but will help our Allies!
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𝕮𝖍𝖎
🛢ï¸
@chigrl
#China is the largest customer impacted by these events, accounting for 1.7MMbls/d or 24.5% of #Saudi exports. China has been building up strategic reserves and currently has 1,095MMBls of commercial and strategic reserves, enough to cover 644 days of Saudi imports (Bernstein)
https://twitter.com/chigrl/status/1173565610766360576 (https://twitter.com/chigrl/status/1173565610766360576)
I think India also gets quite a bit of it... But China?? And that's a bad thing?
Saudi assures India of no oil supply shortage: Oil Min
New Delhi: the world's third-largest oil consumer, will not face any supply disruption after a reduction in production at its No. 2 supplier Saudi Arabia, Oil Minister Dharmendra Pradhan said on Monday.
https://www.asianage.com/business/economy/160919/saudi-assures-india-of-no-oil-supply-shortage-oil-min.html (https://www.asianage.com/business/economy/160919/saudi-assures-india-of-no-oil-supply-shortage-oil-min.html)
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I'm gonna fill up my 18 gallon tank today @ $2.18, just as a precaution.
$1.97 in Palestine, Texas
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I know a lot of reports are calling this a refinery but it is not. It is an oil processing center. It is not a part of the business making fuels. It is a chokepoint for getting oil to any market, export or domestic refinery. The plant has a crude oil processing capacity of more than 7 million b/d.
And it is my experience, that the down time associated with repari of a pipeline station will substantaily less than it would have been for a refinery. This shutdown may not be as lengthy or impactful as many had estimated
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We still get about 500 thousand barrels a day, but yes, that oil can be replaced. Easily drawn from Strategic Petroleum Reserve as an immediate replacement. Plenty of oil for that to long term replace while they make repairs. And of course, other domestic production currently being export but most of that is light, sweet. Most of the Saudi oil is sour.
Asia will see a much bigger impact, far larger than Europe, which is still larger than the US.
(https://www.eia.gov/beta/international/analysis_includes/countries_long/Saudi_Arabia/images/crude_oil_exports.png)
(https://www.eia.gov/beta/international/analysis_includes/countries_long/Saudi_Arabia/images/refined_product_exports.png)
I heard most of the imported oil goes to the west coast anyway. Those left coasters don't need no stinkin oil...lol.
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(https://pbs.twimg.com/profile_images/874276197357596672/kUuht00m_bigger.jpg) Donald J. Trump
Verified account @realDonaldTrump
Remember when Iran shot down a drone, saying knowingly that it was in their “airspace†when, in fact, it was nowhere close. They stuck strongly to that story knowing that it was a very big lie. Now they say that they had nothing to do with the attack on Saudi Arabia. We’ll see?
6:15 AM - 16 Sep 2019
https://twitter.com/realDonaldTrump/status/1173586320943456258
BFD - he canceled the supposed retaliation strike, because it was ‘disproportionate’ and would result in deaths, when no loss of life occured, with the drone’s destruction. What’s changed?
Also, it’s a bit amusing for him to accuse Iran of sticking to a story that was ‘a very big lie,’ while defending Saudi Arabia. I guess he’s forgotten all about Khashoggi?
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Strikes all in identical areas, that is kind of interesting:
(https://pbs.twimg.com/media/EEk5tVrXsAAuD_g?format=jpg&name=small)
Who's that guy?
If that picture depicts what was hit then it is LPG and not oil which fits with what I know about what happens in Abqaiq.
Unless things have changed radically in the years since I was there, there is no oil refining capability there.
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And it is my experience, that the down time associated with repari of a pipeline station will substantaily less than it would have been for a refinery. This shutdown may not be as lengthy or impactful as many had estimated
This is not a pipeline station. It is a crude processing facility. Simple type operation separating oil, gas and water, along with other minor work.
Far less complicated than a refinery, but it is massive, the largest in the world. Over 5 million barrels per day.
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I don't think Trump's "lock and load" is in error, it's too bad, some are making political hay of it as if KSA dictates what we do but maybe they could have been expressed better. He could have said we are watching it closely.
Wendy Acho:
Khamenei and Soleimani, Iran wanted "peace" #JCPOA #IranDeal was
piece of Yemen
piece of Iraq
piece of Syria
piece of Gaza
piece of Lebanon
piece of North Africa
piece of Afghanistan
blackmail Oman
weaken KSA Egypt Jordan Bahrain
—Same goals ISIS/ISIL #40YearsNotANormalCountry
https://twitter.com/Acho_Wendy/status/1172931968125808641 (https://twitter.com/Acho_Wendy/status/1172931968125808641)
Iran piece deal.
000hehehehe
It's a joke but is Iran really in North Africa? Afghanistan? That seems to be stretching it a bit.
Pulled this up, not be forgotten:
Iran-linked terrorists caught stockpiling explosives in London
by Zachary Halaschak
| June 10, 2019 11:01 AM
Just months after signing on to the Iran nuclear deal, authorities in London reportedly discovered that an Iran-linked group was stockpiling tons of the same explosive used in the Oklahoma City bombing.
In 2015, police in London raided four properties associated with the Lebanese terrorist organization Hezbollah and discovered thousands of disposable ice packs filled ammonium nitrate, a chemical used in rudimentary bombs. During the raids, a man in his 40s was arrested, according to the Telegraph.
Despite the gravity of the discovery, the public and lawmakers were kept in the dark about the matter for years as the U.K. continued to support the nuclear deal. During that time there was also a debate whether to label the entirety of Hezbollah, which has support and funding from Iran, as a terrorist group.
https://www.washingtonexaminer.com/news/iran-linked-terrorists-caught-stockpiling-explosives-in-london (https://www.washingtonexaminer.com/news/iran-linked-terrorists-caught-stockpiling-explosives-in-london)
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If that picture depicts what was hit then it is LPG and not oil which fits with what I know about what happens in Abqaiq.
Unless things have changed radically in the years since I was there, there is no oil refining capability there.
This facility typically separates oil, gas and water. They probably also take some basic cuts getting the natural gas liquids separated from the gas and/or condensates. I had similar thoughts as we have similar tanks at our Natural Gas Liquids terminal.
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This is not a pipeline station. It is a crude processing facility. Simple type operation separating oil, gas and water, along with other minor work.
Far less complicated than a refinery, but it is massive, the largest in the world. Over 5 million barrels per day.
IIRC there are several GOSPs (Gas /Oil Separation Plants) and some LPG processing in Abqiaq along with the associated pipelines. No Oil refining at all.
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With no care or empathy for your fellow countryman.... many of whom make their living via either delivering goods or in mobile service industries, not to mention already struggling middle class workers having to go into debt just to gas up their vehicles to get to work...?
Add to that the rising cost of food and other necessities that will result from higher gas prices (to cover the increased costs of producers to consumers). People at poverty level incomes will be hurt the most. But you'd be dancing?
Disclaimer: I worked for oil companies most of my career too.
That logic of yours won't cut it.
Take that another way say, in any healthcare worker who make their living when people are sick becoming unemployed as people are too healthy.
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It's a joke but is Iran really in North Africa? Afghanistan? That seems to be stretching it a bit.
It’s no joke. Iran has been attempting to spread their influence, throughout the region. Many of the more deadly IEDs in Iraq and Afghanistan were explosively formed penetrators (EFPs), supplied by Iran.
The Islamist PJD party in Morocco warned recently of a “sectarian Shia invasion;†the Grand Mufti of Mauritania called on his country’s leaders to resist the “rising Shia tide.†One North African government minister I interviewed denounced “the intrusion of Shiism through social media, university dormitories, high schools and even qur’anic schools,†concluding gravely, “I ask myself whether the Persians want to dominate the Arab world.â€
After Iraq, Yemen, Syria, Lebanon and Bahrein, is North Africa the next realm of a more assertive Iranian foreign policy? These fears come from Iran’s attempt to expand its influence in Algeria, Mauritania, Morocco, Tunisia – and its “backyard:†Senegal, Niger, Guinea and Mali.
https://www.middleeastmonitor.com/20171027-in-sunni-north-africa-fears-of-irans-shiite-shadow/ (https://www.middleeastmonitor.com/20171027-in-sunni-north-africa-fears-of-irans-shiite-shadow/)
At least 500 U.S. military deaths in Iraq and Afghanistan were directly linked to Iran and its support for anti-American militants — a newly disclosed statistic that offers grim context for the Obama administration's diplomatic deal with the Iranian regime aimed at curtailing the rogue nation's nuclear ambitions.
[snip]
Scores of American personnel were killed or maimed by highly lethal bombs, known as explosively formed penetrators, or EFPs, that Iran manufactured and supplied to Shiite militias across the border in Iraq. Many EFPs were powerful enough to destroy U.S. Humvees and breach tank hulls.
https://www.militarytimes.com/news/pentagon-congress/2015/07/14/iran-linked-to-deaths-of-500-u-s-troops-in-iraq-afghanistan/ (https://www.militarytimes.com/news/pentagon-congress/2015/07/14/iran-linked-to-deaths-of-500-u-s-troops-in-iraq-afghanistan/)
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----------------------------------
We are a net exporter of both oil and LNG because of two technological breakthroughs:
* the development of hydraulic fracturing of shale, using liquids rather than explosives and
* the development of both diagonal and horizontal drilling techniques.
Both occurred around 1947 when Trump was 1 years old!!!!!
Nope. Not that simple.
We have greatly produced more oil and gas because of a combination of horizontal drilling and staged hydraulic fracturing.
We are a not a net exporter of oil. We are a net exporter of oil and refined products.
The reason we are exporting more oil now is the ban on oil exports made under Carter in 1977 was lifted in 2015.
The reason we are exporting more refined products is due to the continued success of US refining capability to expand and the inherent lack of success in other countries to do the same.
-
It’s no joke. Iran has been attempting to spread their influence, throughout the region. Many of the more deadly IEDs in Iraq and Afghanistan were explosively formed penetrators (EFPs), supplied by Iran.
The Islamist PJD party in Morocco warned recently of a “sectarian Shia invasion;†the Grand Mufti of Mauritania called on his country’s leaders to resist the “rising Shia tide.†One North African government minister I interviewed denounced “the intrusion of Shiism through social media, university dormitories, high schools and even qur’anic schools,†concluding gravely, “I ask myself whether the Persians want to dominate the Arab world.â€
After Iraq, Yemen, Syria, Lebanon and Bahrein, is North Africa the next realm of a more assertive Iranian foreign policy? These fears come from Iran’s attempt to expand its influence in Algeria, Mauritania, Morocco, Tunisia – and its “backyard:†Senegal, Niger, Guinea and Mali.
https://www.middleeastmonitor.com/20171027-in-sunni-north-africa-fears-of-irans-shiite-shadow/ (https://www.middleeastmonitor.com/20171027-in-sunni-north-africa-fears-of-irans-shiite-shadow/)
At least 500 U.S. military deaths in Iraq and Afghanistan were directly linked to Iran and its support for anti-American militants — a newly disclosed statistic that offers grim context for the Obama administration's diplomatic deal with the Iranian regime aimed at curtailing the rogue nation's nuclear ambitions.
[snip]
Scores of American personnel were killed or maimed by highly lethal bombs, known as explosively formed penetrators, or EFPs, that Iran manufactured and supplied to Shiite militias across the border in Iraq. Many EFPs were powerful enough to destroy U.S. Humvees and breach tank hulls.
https://www.militarytimes.com/news/pentagon-congress/2015/07/14/iran-linked-to-deaths-of-500-u-s-troops-in-iraq-afghanistan/ (https://www.militarytimes.com/news/pentagon-congress/2015/07/14/iran-linked-to-deaths-of-500-u-s-troops-in-iraq-afghanistan/)
Thanks, very useful answer. That's how we learn.
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How we know Iran attacked Saudi Arabia
by Tom Rogan
| September 16, 2019 11:49 AM
https://www.washingtonexaminer.com/opinion/how-we-know-iran-attacked-saudi-arabia (https://www.washingtonexaminer.com/opinion/how-we-know-iran-attacked-saudi-arabia)
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One more time for emphasis. Jimmy Carter allowed the Mullahs back into Iran and NOTHING has been the same in the Middle East since. And the line under that is that for so long as the Mullahs remain in control of the Iranian government there will be no stability in that region.
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One more time for emphasis. Jimmy Carter allowed the Mullahs back into Iran and NOTHING has been the same in the Middle East since. And the line under that is that for so long as the Mullahs remain in control of the Iranian government there will be no stability in that region.
People often talk about '68 being the country's low point in the last half of the century.
That's garbage. What that feckless POS Carter did to this country in the late '70's wins hands down.
I remember both.
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Nope. Not that simple.
We have greatly produced more oil and gas because of a combination of horizontal drilling and staged hydraulic fracturing.
We are a not a net exporter of oil. We are a net exporter of oil and refined products.
The reason we are exporting more oil now is the ban on oil exports made under Carter in 1977 was lifted in 2015.
The reason we are exporting more refined products is due to the continued success of US refining capability to expand and the inherent lack of success in other countries to do the same.
Not even with products combined, but it is getting close.
U.S. Net Imports of Crude Oil and Petroleum Products
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M)
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Not even with products combined, but it is getting close.
U.S. Net Imports of Crude Oil and Petroleum Products
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTTNTUS2&f=M)
It was for awhile
U.S. Becomes Net Exporter of Oil, Fuels for First Time in Decades
https://www.wsj.com/articles/u-s-becomes-net-exporter-of-oil-fuels-for-first-time-in-decades-1544128404 (https://www.wsj.com/articles/u-s-becomes-net-exporter-of-oil-fuels-for-first-time-in-decades-1544128404)
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How we know Iran attacked Saudi Arabia
by Tom Rogan
| September 16, 2019 11:49 AM
https://www.washingtonexaminer.com/opinion/how-we-know-iran-attacked-saudi-arabia (https://www.washingtonexaminer.com/opinion/how-we-know-iran-attacked-saudi-arabia)
First, the technical skill required to accurately hit these targets is significantly beyond the proven capability of the Houthis. And the Saudis — with advanced U.S. support — have a large number of advanced radar and ballistic missile tracking capabilities focused on missiles launched from Yemen. They would have detected at least some of these weapons in flight. But as Secretary of State Mike Pompeo noted on Sunday, there is "no evidence" of a Yemeni launch.
Foreign purchasers don’t get the full capabilities of our military hardware. Also, any system is only as good as the personnel manning it. The military of Saudi Arabia isn’t a merit based system based on competency and performance. Much of the leadership is either composed of the royal family members or those with close ties.
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What that feckless POS Carter did to this country in the late '70's wins hands down.
Don’t underrate Clinton. He’s directly responsible for many of the national security problems we have today, when it comes to Iran, North Korea, and China.
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It was for awhile
U.S. Becomes Net Exporter of Oil, Fuels for First Time in Decades
https://www.wsj.com/articles/u-s-becomes-net-exporter-of-oil-fuels-for-first-time-in-decades-1544128404 (https://www.wsj.com/articles/u-s-becomes-net-exporter-of-oil-fuels-for-first-time-in-decades-1544128404)
Looks like timing of weekly spike when imports go low and exports go high. Timing of shipping that cancels out when looking at the monthly data. Still hard to find matching data. I wonder if this was preliminary data corrected to not be true?
Weekly U.S. Net Imports of Crude Oil
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRNTUS2&f=W (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRNTUS2&f=W)
Weekly U.S. Net Imports of Total Petroleum Products
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WRPNTUS2&f=W (https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WRPNTUS2&f=W)
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Don’t underrate Clinton. He’s directly responsible for many of the national security problems we have today, when it comes to Iran, North Korea, and China.
Entirely true but Carter is the guy who opened the door for him in Iran.
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Beto O'Rourke
@BetoORourke
As President I will not go to war for Saudi Arabia, nor will I let Saudi Arabia dictate our foreign policy.
https://twitter.com/BetoORourke/status/1173429569120026624
Who's that guy?
@TomSea
A guy that is finally right about something,and who is proving that it really IS true that even a broken clock is right twice a day. I personally think he needs a lot of "work" before he thinks and functions as well as a broken clock,though.
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One more time for emphasis. Jimmy Carter allowed the Mullahs back into Iran and NOTHING has been the same in the Middle East since. And the line under that is that for so long as the Mullahs remain in control of the Iranian government there will be no stability in that region.
@Bigun
There is no hope for peace anywhere in the world where a Mullah is left living.
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Don’t underrate Clinton. He’s directly responsible for many of the national security problems we have today, when it comes to Iran, North Korea, and China.
@edpc
I know this is going to make your head explode,but do NOT dismiss the involvement of the Bush Crime Family with the Clinton Crime Family. They have been in business together since Poppy opened the Chinese-American Chamber of Commerce in China ,with his uncle at the head of it,and with Bubba as the Governor of Arkansas and Bubbette! with a seat on the Wal-Mart Board of Directors. They have been getting a cut of every deal any US company has made with China ever since,and this is why Babs loved the Clinton's so much.
BTW,the Bush family has been involved in treason going all the way back to WW-2,when Prescott Bush Sr was working for the Harriman Bank as an account executive,and was caught and convicted of helping the Nazi's launder money while we were still at war with them.
Know what his punishment was for pleading guilty and taking all the blame away from the Harriman's? He was elected to the US Senate in 1954.
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...The estimated 5.7 million barrels a day of lost Saudi oil is the single biggest sudden disruption ever, surpassing the loss of Kuwaiti and Iraqi supply in August 1990 and Iranian output in 1979 during the Islamic Revolution, according to data from the International Energy Agency....
...Brent oil, the global benchmark, jumped more than 19% when markets opened Monday. In dollar terms, the nearly $12 a barrel surge was the biggest intraday rise since trading began in 1988. Futures paired those gains to trade up $6.47, or 11%, at $66.69 a barrel as of 6:48 a.m. in London.
“We expect oil to rise by more than 5% in the short term or more than 20% if impact is protracted,†analysts at Sanford C. Bernstein & Co. wrote in a note. “But much depends on what Aramco says around how quickly production can be restored.â€...
https://www.bloomberg.com/news/articles/2019-09-15/saudis-race-to-restore-oil-output-after-crippling-aramco-attack (https://www.bloomberg.com/news/articles/2019-09-15/saudis-race-to-restore-oil-output-after-crippling-aramco-attack)
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Entirely true but Carter is the guy who opened the door for him in Iran.
(http://www.booknotes.org/ImagesSite/Authors/GarySick_(125x140).jpg)
According to this, Gary Sick helped formulate this with Iran. I've heard of the guy, I can barely know from where but a household name.
Gary Sick, Portrait of an American Architect of Khomeinism
https://thefreeiranian.org/corruption-in-iran/the-case-of-the-american-architect-of-khomeinism (https://thefreeiranian.org/corruption-in-iran/the-case-of-the-american-architect-of-khomeinism)
I think Carter must have brought on that Camp David Peace Agreement. If so, that does seemed to have worked out. Note, I"m not plugging Carter here, this is just how history looks to me. If anyone knows different, I welcome their view. Egypt, Jordan, Israel, all pretty peaceful since, Israel gave Egypt the Sinai peninsula.
Then, Carter gave away the Panama Canal, big mistake there.
Gary Sick, Discredited but Honored
by Emanuele Ottolenghi Middle East Quarterly
Spring 2012, pp. 73-79 (view PDF)
https://www.meforum.org/3219/gary-sick (https://www.meforum.org/3219/gary-sick)
Carter Administration can't be worse than Obama's.
For all we know, if Saudi Arabia wasn't confronting Iran, they'd be confronting ISrael.
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Attacks in Saudi Arabia rock oil market
https://www.ogj.com/general-interest/economics-markets/article/14039984/attacks-in-saudi-arabia-rock-oil-market (https://www.ogj.com/general-interest/economics-markets/article/14039984/attacks-in-saudi-arabia-rock-oil-market)
Sep 16th, 2019
...Saudi officials said they expected to be able to restore 1.9 million b/d of production quickly but offered no prediction about when full operations might resume.
Supplemental supply can come from storage and spare production capacity outside Saudi Arabia.
The kingdom has about 130 million bbl of oil in storage....
...esides stock withdrawal, supplemental supply also can come from production capacity now idle, especially among other members of the Organization of Petroleum Exporting Countries. Eleven OPEC members participate in the agreement to limit production in effect since January 2017.
According to IEA, OPEC members with significant spare capacity are the UAE, 330,000 b/d; Kuwait, 290,000 b/d; and Angola, 150,000 b/d.
August production by Russia, the most important of 10 non-OPEC countries collaborating with OPEC on supply restraint, was, at 11.6 million b/d, nearly 200,000 b/d below a recent high point recorded in October 2018....
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$1.97 in Palestine, Texas
I'd just about kill for those prices. Gas here is $2.69.
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I'd just about kill for those prices. Gas here is $2.69.
It's a COLD Climate tax rebate us Texans get, because we live in this oppressive heat we get cheap Gas. @Smokin Joe
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With no care or empathy for your fellow countryman.... many of whom make their living via either delivering goods or in mobile service industries, not to mention already struggling middle class workers having to go into debt just to gas up their vehicles to get to work...?
Add to that the rising cost of food and other necessities that will result from higher gas prices (to cover the increased costs of producers to consumers). People at poverty level incomes will be hurt the most. But you'd be dancing?
Disclaimer: I worked for oil companies most of my career too.
When The "Tax simplification" eliminated Form 2106 deductions for all but a select few people, that had a greater impact on those who make their living delivering goods and in mobile service industries, unless they are doing so under a LLC. Many 'brands' people deliver for have those employees use their own vehicles, especially in the prepared food delivery business.
The tax code changes cause more pain there than the price, because those employees don't even have the choice to deduct standard mileage rates or actual fuel/oil/repairs/tires and depreciation any more, they have to eat that cost and be taxed on it.
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I'd just about kill for those prices. Gas here is $2.69.
Just filled up today in Austin for $1.99 at Sams. Figured it would be going up some.
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...Brent oil, the global benchmark, jumped more than 19% when markets opened Monday. In dollar terms, the nearly $12 a barrel surge was the biggest intraday rise since trading began in 1988. Futures paired those gains to trade up $6.47, or 11%, at $66.69 a barrel as of 6:48 a.m. in London.
“We expect oil to rise by more than 5% in the short term or more than 20% if impact is protracted,†analysts at Sanford C. Bernstein & Co. wrote in a note. “But much depends on what Aramco says around how quickly production can be restored.â€...
Yet the price is still far less than what this recent forecast said it would be. http://www.gopbriefingroom.com/index.php/topic,357805.msg1953921.html#msg1953921 (http://www.gopbriefingroom.com/index.php/topic,357805.msg1953921.html#msg1953921)
Why? Because the US is pumping more crude, more than thought we could do.
And that is the reason we need to continue shoring up the energy industry by reducing burdens of government interference and opening up more areas of potential supply.
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Mike Pence's chief of staff improbably claims Trump's 'locked and loaded' tweet refers to energy independence
After President Trump's tweet that the U.S. is "locked and loaded" following drone attacks on a Saudi Arabia oil site, one White House official is suggesting we take that phrase seriously, but not literally.
Marc Short, Vice President Mike Pence's Chief of Staff, claimed Monday in response to questions about Trump's tweet that "locked and loaded is a broad term and talks about the realities that we're all far safer and more secure domestically from energy independence," CNN reports.
https://www.msn.com/en-gb/news/politics/mike-pences-chief-of-staff-improbably-claims-trumps-locked-and-loaded-tweet-refers-to-energy-independence/ar-AAHnKGk (https://www.msn.com/en-gb/news/politics/mike-pences-chief-of-staff-improbably-claims-trumps-locked-and-loaded-tweet-refers-to-energy-independence/ar-AAHnKGk)
IOW, the president has been talking (tweeting) out of his ass - again. The admin had to get out there to tell us we didn’t actually hear what we thought.