#saudioilfieldattackYour morning briefing...yesterday Saudi Arabia did something very courageous. They cut oil prices 30%. Saudi Arabia has massive amounts of crude oil in the ground. It is also is the lowest cost producer of oil in the world. I emphasize to people that one needs to always think in three dimensions. When you take a bold and controversial action, you have to carefully consider how those hurt by your action will react. In this case two countries that will be deeply hurt by the Saudi action are Iran and Russia. These two countries are allies. Some months ago, Iranian-backed militias attacked a Saudi oil production facility and put it out of action for several weeks. The US and Saudi Arabia took no military action against Iran. This has made the Iranians bold. They could launch a major attack on the Saudi oilfields and knock them out. They would not fear a military response from the Saudi Arabia or the US.
Good that's fantastic, now the Globalist will have to stop trying to destroy the economy. They thought they could hedge their loses on $200 bbl Oil and $5.00++ gallon gas.
That didn't happen. Look for a quick and painless recovery. And I suspect the worse of the Corona hype is well placed solid in our rear view mirrors. We will start seeing this being treated no different than the Common Cold or Flu Season.
I emphasize to people that one needs to always think in three dimensions. When you take a bold and controversial action, you have to carefully consider how those hurt by your action will react. In this case two countries that will be deeply hurt by the Saudi action are Iran and Russia. These two countries are allies.
Some months ago, Iranian-backed militias attacked a Saudi oil production facility and put it out of action for several weeks. The US and Saudi Arabia took no military action against Iran. This has made the Iranians bold. They could launch a major attack on the Saudi oilfields and knock them out. They would not fear a military response from the Saudi Arabia or the US.