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  • January 1, 2013

    Saudis Sweat Bullets As Energy Revolution Changes the Rules

    The American Interest

    The US shale gas boom, drastically cutting the cost of gas, is shaking the foundations of the Saudi Arabian economic model—and more is coming. The highly profitable $100bn Gulf petrochemical industry is taking a hit as its biggest customer—the U.S.—is importing less and relying instead on domestic production.

    US petrochemical companies, propelled by cheaper access to raw materials, are competing effectively against companies like the Saudi Basic Industries Corp (Sabic), the world’s largest chemical maker. Sabic also has some home-grown problems. The rapidly growing Saudi population wants to consume (subsidized) petrochemicals at home, air conditioning Saudi houses and running Saudi cars instead of exporting product abroad. Falling production, demand, and prices are beginning to hurt the once stalwart $89bn company.

    The Financial Times reports:

    “The cyclical Gulf petrochemicals industry is already suffering, as lower prices have coincided with higher raw material costs. Sabic…has reported declining profits in every quarter so far this year.

    In the third quarter net income fell 23 per cent from the year-earlier period; it fell 35 per cent in the second and 5 per cent in the first quarter.”

    US gas prices have plummeted due to new techniques, known as fracking and horizontal drilling, developed to extract the vast deposits of shale gas in the North American bedrock. Production has jumped by nearly a quarter since 2000, reducing demand for Saudi gas. If China figures out how to exploit its own shale gas reserves the Saudis will have every reason to be nervous. The two pillars of the Saudi economy—oil and petrochemical exports—will both be on shaky ground.

    But the changing energy landscape threatens more than economic consequences for the Gulf state. The US could surpass Saudi Arabia as the world’s leading oil producer by 2020, and this could mean big changes for US foreign policy and the domestic economy.

    Via Meadia recently wrote that the Gulf region, Russia, Venezuela, and other former oil monopolists will see their power and influence decrease in the face of a new American led energy order. Countries like Brazil, China, Canada, and Israel will also make gains due to the discovery of their own energy reserves.

    To add icing to the geopolitical cake, America’s energy revolution could jolt some much-needed life into the long term prospects of the US economy. Since the 2008 financial crisis, more than 600,000 new jobs have come from the fracking industry, and these jobs pay well. The new industry will draw workers away from the coasts and into the American heartland, reviving the surrounding states.

    As the energy revolution unfolds, the Saudis are likely to have less discretionary money for missionary projects and the United States will be in a stronger position to press its longtime partner on a variety of issues. Interesting times.

  • Posted by Ted Belman @ 6:38 am | 192 Comments »

    192 Comments to Saudis Sweat Bullets As Energy Revolution Changes the Rules

    1. yamit82 says:

      @ David Sternlight:

      I have met Yamani and he is not an anti-Semite

      Do you need to have someone with a black uniform and wearing a clipped Charlie Chaplin Mustache to recognize an anti-Semite or guys wearing white sheets? If he is a true believing Muslim he is an anti-Semite, if he is an apostate then he would not be accepted inside of the Kingdom no less be allowed to live. Your logic is illogical and if anything your basis of defense of Yamani but not just,.. is sophist apologetics. I have known many Jew Haters and many I have respected and even liked but I never fooled myself about they being Jew Haters. If you can’t distinguish between Jew Haters and non Jew haters then you are not only stupid but dangerous and not just to yourself.

    2. yamit82 says:

      @ David Sternlight:

      If I would wish to demonize another (I do not) an example would be by seizing on another’s bodyguard and intervention boasts with “Once a thug, always a thug”. But that would be akin to smearing the JDL or Betar rather than addressing their specific advocacies.

      “Once a thug, always a thug”

      Historian Robert Rockaway notes that German-American Bund rallies in the New York City area posed a dilemma for mainstream Jewish leaders. They wanted the rallies stopped but had no legal grounds on which to do so. New York state judge Nathan Perlman personally contacted Meyer Lansky and asked him to disrupt the Bund rallies, provided that Lansky’s henchmen stopped short of killing any Bundists. Enthusiastic for the assignment if disappointed by the restraints, Lansky accepted all of Perlman’s terms except for one: he would take no money for the work. Lansky later observed, “I was a Jew and felt for those Jews in Europe who were suffering. They were my brothers.” For months, Lansky’s workmen effectively broke up one Nazi rally after another. As Rockaway notes, “Nazi arms, legs, and ribs were broken, and skulls were cracked, but no one died.”

      Lansky recalled breaking up a Brown Shirt rally in the Yorkville section of Manhattan: “The stage was decorated with a swastika and a picture of Hitler. The speakers started ranting. There were only fifteen of us, but we went into action. We … threw some of them out the windows…Most of the Nazis panicked and ran out. We chased them and beat them up…We wanted to show them that Jews would not always sit back and accept insults.”

      AND NOT A Phd AMONG THEM :( Jews need more thugs and much fewer PHD’s

    3. yamit82 says:

      My comment is in Spam dump. Software working on steroids tonight?

    4. Dr. Honey Bee Ph.D says:

      @ David Sternlight:

      Porque azul

    5. Check out Bill O’Reilly’s New Year’s resolution on his show a few days ago.i am always willing to adopt someone else’s good idea.

      By the way, standard usage is either the prefix or suffix but not both.

      @ Dr. Honey Bee Ph.D:

    6. Dr. Honey Bee Ph.D says:

      @ David Sternlight:

      Nada palabras coloroso mas. Soy una Ph.D ahora, demasiada inteligente que Yamit y Bernardo.

    7. Dr. Honey Bee Ph.D says:

      @ David Sternlight:

      Despensame coloroso, que barracha

    8. Bernard Ross says:

      David Sternlight Said:

      Blue.

      Its a pity you are feeling blue; perhaps its that guilty conscience.

    9. Bernard Ross says:

      yamit82 Said:

      azul…Here is a good idea for you to adopt

      I think he has adopted that idea already.

    10. yamit82 says:

      @ Bernard Ross:

      Bernard Ross Said:

      I think he has adopted that idea already.

      FRIENDS OF DAVE and GEORGE

    11. Michael Devolin says:

      Imagine kissing that repulsive face?!! That Saudi is uglier than a hunting accident!!

    12. “Jews need more thugs and much fewer PHD’s”
      Blue

      @ yamit82:

    13. Andy Lewis says:

      @ David Sternlight:

      The purpose of lobbying is to provide expertise in a field when legislation is involved.

      Haw haw haw.

    14. Dr Honey Bee Ph.D says:

      @ yamit82:

      If renouce my Ph.D will that make you happy. “I’m a lions cub”, but I would make a lousy thug. All I ever had was my mouth, did you watch “Boardwalk Empire”.

    15. Dr Honey Bee Ph.D says:

      @ David Sternlight:

      Coloroso on the border can mean any number of things drunk,tan,bad language, rowdy behavior,provocative, sexy bushing drunken nose.

    16. Bernard Ross says:

      Andy Lewis Said:

      @ David Sternlight:
      The purpose of lobbying is to provide expertise in a field when legislation is involved.
      Haw haw haw.

      best comment award!

    17. Bernard Ross says:

      yamit82 Said:

      FRIENDS OF DAVE and GEORGE

      LOLROF, Stop it , you’re killing me!

    18. I guess I’m slang-challenged in Latin American Spanish. :-)
      @ Dr Honey Bee Ph.D:

    19. Dr Honey Bee Ph.D says:

      @ David Sternlight:

      Tienen una alma colorosos, los Mexicanos

    20. yamit82 says:

      @ Dr Honey Bee Ph.D:

      If renouce my Ph.D will that make you happy.

      HB I am happy just the way you are.

      “I’m a lions cub”, but I would make a lousy thug.

      You sound like a tough Texas broad to me. I’ll bet you can take care of yourself and in a pinch you got Cowboy backup.

      All I ever had was my mouth,

      emitting pearls and diamonds.

      did you watch “Boardwalk Empire”.

      No.

    21. Michael Devolin says:

      I’m from rural Ontario, Canada, Honey Bee. I forgot to answer your question earlier on.

    22. yamit82 says:

      @ David Sternlight:

      I guess I’m slang-challenged in Latin American Spanish. :-)

      You’re being challenged on everything. To-bad you have been found to be incompetent and gutless in your non responses. Is that what you learned in PHD school?

      Yellow

    23. Dr Honey Bee Ph.D says:

      @ yamit82:

      Para su comento, gracias. Tu es un corazon dulce.
      Cowboy pretty mellow, today a man danced th polka with me,at the flea market, without asking Cowboy’s permission and Cowboy was cool.

    24. Dr Honey Bee Ph.D says:

      @o David Sternlight:

      Claro que si, I’m use to vaqueros y vendores del marcado

      \

    25. yamit82 says:

      @ Dr Honey Bee Ph.D:
      Dr Honey Bee Ph.D Said:

      Para su comento, gracias. Tu es un corazon dulce.

      vainas que no era nada

      Cowboy pretty mellow, today a man danced th polka with me,at the flea market,

      what kind of flea market y’all got down there?

      without asking Cowboy’s permission and Cowboy was cool.

      Describe the man?

    26. Vendoras del mercado sounds like the Romney joke. He went shopping at Costco today and bought five stores.

      @ Dr Honey Bee Ph.D:

    27. yamit82 says:

      @ David Sternlight:
      David Sternlight Said:

      Your logic is faulty. I have met Yamani and he is not an anti-Semite The thing that drives Wahabi attitudes is less anti- Judaism than their fundamental principle that once a land is Islamic ( has been conquered) it is forever Islamic.

      That makes them an enemy of Western values, but not as a matter of anti- semitism. The extremists would just as soon murder Christians or Ba’hai. To see this through a prism of anti- semitism misses an opportunity to make many alliances. the Israeli government is smart enough to act on that insight

      “O Believers, take neither Jews nor Christians as your friends; they are friends of each other. Whoever of you makes them his friends is one of them! God guides not the people of the Evildoers!” — Koran, Sura 5 “The Dinner Table” at 51; and

      “… [Jews are] those whom Allah has cursed and with whom He has been angry, [consequently] transforming them into apes and pigs, and [into] those who serve Satan.” — Koran, Sura 5 “The Dinner Table” at 60; and

      “You will see many among them [the Jews] competing with each other in sin and wickedness and in practicing that which is unlawful. Evil is what they do. Why do their rabbis and leaders not forbid them to blaspheme and practice that which is unlawful? Evil indeed are their doings. The Jews say, ‘Allah’s Hand is chained.’ May their own hands be chained! May they be cursed for what they say. …” — Koran, Sura 5 “The Dinner Table” at 62-64; and

      “You will find that the most implacable of men in their hostility to the faithful [followers of Allah] are the Jews and the pagans; and that the nearest in affection to the faithful [followers of Allah] are those who say: ‘We are Christians.’ …” — Koran, Sura 5 “The Dinner Table” at 82; and

      “The Jews say: ‘Ezra is the Son of God.’ The Christians say: ‘The Messiah is the Son of God.’ That is the utterance of their mouths, conforming with the [false doctrines of the] unbelievers before them. God assail them! How they are perverted!” — Koran, Sura 9 “The Immunity” at 30.

      “The Resurrection of the Dead will not come until the Muslims will war with the Jews, and the Muslims will kill them; … the trees and rocks will say, ‘O Muslim, O Servant of Allah, there is a Jew behind me. Come and kill him.’” (see Hadith compilations of Sahih Bukhari: Volume 4, Book 52, Number 176 as narrated by Abdullah bin Umar, and Volume 4, Book 52, Number 177 as narrated by Abu Huraira).

      I won’t comment on your logic but your knowledge and understanding is deficient. I would expect a Phd to check out his subject before opening big trap.

    28. Dr Honey Bee Ph.D says:

      @ yamit82:

      That’s why West Texas is so safe for Jews, no trees no rocks!!!!!!!!!!

    29. Andy Lewis says:

      @ yamit82:

      I would expect a Phd to check out his subject before opening big trap.

      Confucius say, Internet PhD equal vocational college dropuut.

    30. Dr Honey Bee Ph.D says:

      @ yamit82:

      We have alot of fun, the seller was playing music to attract customers and asked cowboy to dance , he woudn’t, so I danced with the selller. Cowboy was talking football serves right! The seller was not up to cowboys standards.

      In “Broadwalk Empire” the actor playing Meyer Lansky is an Israeli. There is an Israeli at the flea market, he was helping a man translate Hebrew into English. The ederly man says he has a 2000 yr old Hebrew prophicity that Obama is the anti-Christ I said the Obama is the anti-Moses, try to return the Jews to Egypt.

    31. Dr Honey Bee Ph.D says:

      @ Andy Lewis:

      Are you denegrating my flea market Ph.D?

    32. Andy Lewis says:

      @ Dr Honey Bee Ph.D:

      Absolutely not, Dr. My jest was individually targeted.

    33. Dr Honey Bee Ph.D says:

      @ Andy Lewis:

      Good cause the only way you get respect on a Jewish site is to have at lest one Ph.D. Mine is letting hot air out of over inflated ballons!!!!!!!!!!!!!

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