War! - September 14, 2019

Americans distracted by:

• college football
• back-to-school shopping
• new Apple products

We need some good analogies to help people understand how big a story this is.

Let's see if the Permian, Bakken, and Eagle Ford can respond!

My hunch: by Monday, production back to normal. [Later, okay, Wednesday.]

Quick, before we get started: which US state is most dependent on Saudi oil? California.

Let's see what twitter has to say about that:

Yes, just as I expected. But we will see. If not back on line by Monday morning, we will see a $10-spike in price.

Disclaimer: this is not an investment site. Do not make any investment, financial, job, travel, career, or relationship decisions based on what you read here or what you think you may have read here.

War! Edwin Starr   *********************************************
Mideast On The Brink

Abqaiq back in the news.

We talked about Abqaiq eight years ago:

June 15, 2011: Saudi oil terminal vulnerable to terrorism.

When al-Qaida suicide bombers tried on Feb. 24, 2006, to blow up Saudi Arabia's Abqaiq oil processing facility, arguably the world's most important petroleum hub, it was taken as a sign of strength that internal security had foiled the attack. Secret U.S. State Department cables obtained by WikiLeaks and shared with news organizations show otherwise. Even though 70 percent of Saudi Arabia's oil exports flow through the Abqaiq facility, Saudi security forces were woefully ill-prepared to defend it, investigations into the attack found, according to the cables.