Interesting to note that Qatar, Kuwait & Saudi Arabia are mentioned pledging to pump more oil to drive down the price, to the mid $20s.
Could these regimes survive without the implicit support of the US? Kuwait thankfully paid for the previous war, and wrote a cheque for about $100 billion to preserve their privileges, and Saudi Arabia would pay much much more. The Saudi Kingdom supports the King royally, as well as 7,000 Princes. These guys are all on super welfare plus, and look ultimately to the US to maintain their positions. And the bombings in Saudi Arabia strikes fear in the collective soft royal heart, and as they cast their eyes upon their protector, they know what he demands.
It is no wonder the average Arab, looking at his own drab existence, is fed up and is susceptible to terror recruitment. He would probably like to see $100/ bbl., and hope that a few cents might find its way into his pockets.
A revolution in the oil producing Arab countries would be a catastrophe for the US and the West. The next leader, like in Iran, may not be so easily controlled and bribed with untold riches. He might not be amenable to pump out his oil fields for cheap dollars. He might figure out that although he is getting paid now, when its all gone the United States will treat him like a whore, and say "thanks, it was good for me".
But I must be dreaming. The Iraqi war had nothing to do with oil, right?
I predict the US will leave Iraq just before the last barrel of oil is pumped out of the middle east. |
