Saudis Have Lost the Oil War

http://journal-neo.org/2016/06/01/saudis-have-lost-the-oil-war/

Poor Saudi Arabia. They don’t
realize it yet but they have lost their oil war. The war in its current
phase began in September, 2014, when the dying King Abdullah and his
Minister of Petroleum, Ali Al-Naimi, told US Secretary of State John
Kerry they would gladly join Washington in plunging world oil prices. It
became clear the main Saudi motive was to eliminate the new growing
challenge to their control of world oil markets by forcing prices so low
that the US shale oil industry would soon go bankrupt. For Kerry and
Washington the focus, of course, was to economically cripple Russia in
the wake of new US sanctions by damaging their revenues from export of
oil. Neither achieved their aim.

Now, however, it’s clear that Saudi
Arabia, which along with Russia is the world’s largest oil producer, is
going down a dark road to ruin. Washington seems more than happy to
cheer them on.

The long-term Washington strategy since
at least 1992, well before September 11, 2001 and the Washington’s
declaration of its War on Terror, has been by hook or by crook, by color
revolution or outright invasion, to directly, with US
“boots-on-the-ground,” militarily control the vast oil reserves and
output of the major Arab OPEC oil countries. This is a long-standing
institutional consensus, regardless who is President.

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