“Half of Saudi oil production wiped out” was the headliner. I predicted that Saudi Arabia had shut down a lot of their processing and storage facilities simply as a precaution while inspections were underway. Saudi Arabia yesterday announced that 70% of their production was restored. They are able to maintained contracted tanker liftings using their reserve oil. WTI oil prices are around $58/bbl, about what they were before the attack.
The question still remains, as to whether the Houthis or the Iranians were behind the attack. I don’t know. Our President is a non-stop liar. According to politifact.com, 69% of the 720 statements he has made were in the category of Mostly false, false or pants on fire. Only 4% of his statements were true.
If you work with Donald Trump, then you have to toe the line, and you better find a way to support him, or you will be out the door in a second. So, I guess the question keeps coming around, who do you believe?
Not Trump nor Prince Mohammed Bin Salman of Saudi Arabia. And that doesn’t leave me believing the Iranians either. I believe more in that the drones or any missiles were not sent from Iran, because it is not in Iran’s national interest to provoke a war with the Saudi’s. But, there are a number of UN inspectors, which I feel will be far more impartial.
It definitely was the crisis that wasn’t. The petroleum industry including oil rigs, processing and export facilities, refineries and petrochemical plants are all vulnerable to drone attacks. They were before the attack, but the public awareness wasn’t there.
It is easy to accuse Iran, but as I said, it just doesn’t make any sense they would provoke a war with the Saudis. Of course, the Houthis are completely different. They are already at war with Saudi Arabia.