Oil Prices Spike After Attack on Saudi Facilities but Lasting Disruption Seen Unlikely

Well that’s one way to make money

Never allow a crisis to be wasted, the saying goes. An attack on Saudi oil facilities provides a(other!) legitimate reason for the US to drop those bunker busters on Iranian nuclear facilities. But will Trump do a(other!) Obama and kick the ball down the road yet again for some future President to deal with?

Trump could be caught up in Saudi turning into a Black Swan. All OPEC oil money creates US wealth by creating dollars of real value (rather than the monopoly money printed by the Fed) backed by other people's hard work and enterprise in other countries to buy that oil worldwide, which pours through New York and magically levitates the US economy. That's why the US puts up with OPEC. Now those billions could stop pouring through with such voracity and the waterfall might become less of a torrent. Moreover, Saudi is close on technically bankrupt already. Which is why it needed $100 oil. Even if oil gets to that, they will have a much reduced quantity to sell at that price. Indeed, the surprisingly small 15% spike helps little if quantities sold halve. Saudi was already becoming a credit risk considering its spending, now they could begin defaulting big time.... Saudi could very soon become the biggest bankrupt in history, given its already on a financial tightrope. Imagine the financial crisis that could create... Oh, and why have the Saudi's not mentioned Al-Qaeda as possibly involved? I guess it might be embarrassing to admit they have a local terrorist issue... but they do and we all know how accurate Al-Qaeda can be with flying objects... they hit not only the twin towers in New York with precision, but moreover the Pentagon of all places! Saudi is their own backyard. The timing so close to Trump's disclosure of killing Hamza Bin-Laden's death is uncanny....

Trump is going to try to talk down oil prices exactly as he does interest rate - he is for zero interest rates and cheap energy prices so consumers and investors will be happy.He sees this as his ticket to another term in the White House.We should be paying more for energy In the form of a tax to implement cleaner energy alternatives.No one is happy that a shortage of Saudi oil will mean ever more energetic fracking in the United States.If there were any planners in the government they could have seen this coming.

Poor Trump. The unintended consequences of his war with Iran might be to reduce carbon emissions by increasing prices of fossil fuel worldwide, without a carbon tax. Combine that with creating a global recession so nobody can afford fuel, and he might be able to run in 2020 as the environmental candidate.

Doesn’t matter to me. My cars are electric, my power company is green/alternative, my house is solar. Can I tell you how good it feels that oil prices have absolutely no effect on my family budget? Get smart people. Dump your polluting combustion engines and switch to green energy. You save a bundle, not to mention the planet. And suddenly no one will care about the dirty wars in Middle East at all.

Saudi Arabia is less trustworthy than Iran. I believe Iran when they say they had nothing to do with the attack. The US is quick to blame Iran in a proxy war supporting Yemen, while nobody dare mention the US supports the Saudis in the same proxy war.

Let us hope that the remnants of the ordinance used and the delivery systems are untraceable. Should the US/Saudi investigation find any hard evidence that other Western governments accept as Iranian-based, US and Saudi air forces will attack Iran. Worse, if the US or the Saudis have some Iranian parts in storage, perhaps the “evidence” will be manufactured. In this day, why should anyone trust either government? We live in dark times.

We need to be paying 5.00 dollars a gallon now for gas especially since we know that Trump caused this war with Iran. If he still has a GOP base at election time they are really enjoying the high prices and deserve to pay for it longer.

Let's see how many ways Trump and his sycophants spin this into blaming let's see; Iran of course, maybe Obama, the Democrats?

You bet...we, as citizens, would not want the wealthy to ever experience a decline in their investment passive income. They need support of our hungry children to fuel their jets and follow the sun!....No, the government must allow price gouging so they can be invited back to the club they so desperately want to join. Has anyone seen persons with real adult emotions be able to cope?.....We long for the life of the motion pictures promise that the party in power is said to be keeping from us! (Roadside Stand, Robert Frost)

Well of course they are. Funny how quick they are to rise at the slightest bump in the supply chain and how slow they are to fall in times of surplus. Guess this is good news for American oil. Gee, it's almost like if the US did this they'd get to invade Iran and see their oil pals make big profits.