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No Saudi Oil Says Trump; Saudi Arabia Fires Back
Imagine making the world’s largest oil exporter sweat it out. That’s exactly what Donald Trump is doing. The president-elect has said repeatedly that the U.S. needs to block all oil imports from Saudi Arabia.
During his campaign Trump vowed to secure U.S. energy independence from “our foes and the oil cartels,” while also creating “complete American energy independence.”
Are The Saudis About To Reveal The Best Kept Secret In Oil?
One of the oil world’s longest and best kept secrets may finally be revealed. Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades.
The decision to bring such important data to light comes as Saudi Aramco is preparing to partially privatize its assets, an IPO that could bring in some $100 billion. The IPO will be a monumental event, one that the Wall Street Journal says could offer Wall Street some of the largest fees in history.
...the collapse of oil prices since 2014 has pushed the Saudi budget deep into the red. The Deputy Crown Prince Mohammed bin Salman is undergoing an historic transformation of the Saudi economy, a multi-decade plan to diversify the country’s economic base and create new sources of revenue. At the heart of the plan is spinning off roughly 5 percent of Saudi Aramco, the most valuable oil company in the world. Saudi officials believe that the company is worth between $2 and $3 trillion.
But in order to settled on a valuation and launch an IPO of some of Aramco’s assets, investors need to get a look beneath the hood. That is why Saudi Arabia is now prepared to unveil not just its financials, but also the long sought after data surrounding its oil reserves.
originally posted by: BlueShaman
This is another reason why Trump's victory is the best thing to have happened.
With crooked Hillary at the helm, dependency on her Saudi buddies' oil would only increase.
Oil analyst: Here’s who Saudi Arabia wants as the next US president
According to Bob McNally, president of consulting firm Rapidan Group, countries in the oil-producing Middle East, including Saudi Arabia, are hoping for Hillary Clinton to become president.
originally posted by: eXia7
Man, I bet they are going to start re-thinking all those gold palaces and expensive cars now. They have wasted a great deal of their funds on useless crap. Some places have spent their oil money wisely and worked on boosting tourism.
This is good news for the US.
originally posted by: LifeMode
Tracking on this as well. Very interesting, especially the 800 billion dollar motherload believed to be in West TX.
The issue with that potential prospect though is quality being shale mostly (fracking). The oil is likely there but the cost to extract it way more expensive. Probably best scenario is to find some balance but not sure how. That light crude is cheap. I do think we have the upper hand though on Saudi. We could really hurt them. All they have is oil. Maybe they could pay us not to drill. I don't know?