ALL EYES on Saudi Arabia: No Saudi Oil Says Trump

As everyone is aware, the world is changing, and in the Middle East this is particularly true for the Saudis. With the election of Donald Trump, it looks like they are really freaking out.

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.”

See also: Saudi Arabia warns Trump on blocking oil imports: Kingdom’s energy minister says move would risk damaging the US economy

Isn't that nice they have such concern for our economy?

Meanwhile, it was announced yesterday: USGS Announces Its Largest Oil And Gas Discovery Ever In The States

Predictably, the Saudis aren't very happy about how things are going.

Saudi Arabia admits owing billions of dollars to contractors over oil slump

Iran overtakes Saudi Arabia as top oil supplier to India

This article explains:

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.

These are certainly interesting times. All of the 20th century paradigms seem to be shifting, and nowhere is that more true than in the Middle East.

a reply to: loam

Screw them and their Wahhabi beliefs .

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.

I agree with trump, let's leave the Middle East alone. OPEC has been messing with our economy for a long time, time for some pay back.

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.

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?

a reply to: loam

I think everyone can get behind the idea of energy independence.


Saudi's can suck it!

a reply to: BlueShaman

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.

To add weight to your comment:

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.

Seems that has always been somewhere in the background, that is using middle east oil up and saving ours for ourselves. Kind of like the tirade in the movie Syriana, where the American tells the Prince that he has saved for nothing, not schools nor hospitals and some day that they would be left in ruin.

www.youtube.com...

Could very likely just be the art of the deal on Trump's part. Spewing threats gives him leverage when he comes to the negotiating table.

Saudi oil is inexpensive and the Saudis are complaining about how they're not making enough money *eyes tearing up* so NOW they've decided to pair up with Wall Street for a company that's supposedly worth 2 to 3 TRILLION dollars?!? How come i have a feeling that when the actual remaining oil "supplies available* will be released will be like 10 to 20 years worth globally. WooHoo mega super psychotic greed and panic time!!! Of course once their coffers are overflowing with shiny trinkets and human souls some Saudi oil minister is going to realize that a zero was accidentally forgotten in the actual remaining oil supplies.
Garbage attitude if you ask me. But then again the Koran says it's cool to take as much possible from nonbelievers/infidels or whatever you want to call us.

a reply to: loam

I wonder if some big donors to the Clinton Foundation (*Saudi Arabia*) are now asking for refunds?
They were probably establishing their deals in advance of a Clinton presidency.

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.

As beautiful looking and interesting as those places might be. Abu Dhabi for example they're still not very Western/*sigh*white culture friendly. Bikinis, hand holding kissing in public talking to their ladies... And god forbid you accidentally touch one with your left hand show the soles of your footwear while sitting they'll definitely going to give you an earful and don't forget about "morality police" F-it if i can't get a pulled pork sandwich or a rack of ribs and if you're gonna be a pain in the butt about in the procuring and drinking of a beer/vodka tonic or nice whiskey then i think you've made it clear that i am not a very desired tourist.

a reply to: loam

About time! It's so nice to see an American leader (or soon-to-be leader) stand up to the Saudis, instead of just taking whatever they decide to dish out.

It's also nice to see that Trump has noticed that the oil industry stateside is in trouble and people are struggling...none of our other leaders ever mention us, unless it's to announce new regulations or to talk about putting fossil fuels out of business.

(Venezuela needs to tell the Saudis to get bent, too. Those poor people...)

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?

It is offset by not having to transport it halfway across the world with shipping, paying other countries fees etc.

Big Oil and the kingdom of Saud are way to embedded imo, for that to ever change. Simpler, stop shipping arms to them.

They may not run out of oil anytime soon, but if they ran out of ammo, things might take a turn for the worse for them. They have lots of enemies in the ME. If the UK and US Factories for War stopped shipping to them, they might find themselves boiling in their own juices.

a reply to: loam

Ok, I'm way off with having a source to back up this thought, but I read somewhere that Saud were in the space race, pumping trillions into a space exploration - as I recall it was with regard to comet mining...

So what if the depression in the price of oil is an attack on their ability to make moves in this field?

I know, I know, clutching at straws at best!

a reply to: loam

money.cnn.com...

When it comes to oil production. The USA is right behind Saudi Arabia.

Why do we need to buy oil from them?

originally posted by: hutch622
a reply to: loam

Screw them and their Wahhabi beliefs .

For the record, they're not all Wahhabis. There are Shiites, Sunnis, and even Christians there (though admitting it in public is a crime). Their powerbrokers and royal family are allied with the Wahhabis, though.

a reply to: loam

This hit the news yesterday and certainly doesn't hurt that position.

And who knows, the info may have been known and factored in...

Largest US oil and gas field ever assessed found in TX