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OpEdNews Op Eds    H3'ed 1/6/16

Saudi-Iranian spat: Another skirmish in the oil war

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Pepe Escobar
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The problem is, according to Persian Gulf traders, an annual oil depletion of seven million barrels a day, and that cannot be replaced with the collapse in drilling. What this means is that all surplus oil could be wiped out in the first or second quarters of 2016. By mid-2016, oil prices should start surging dramatically, even with additional oil from Iran.

So the US government strategy has now metastasized into trying to destroy the Russian economy before the oil price inevitably recovers. That would give the US government a window of opportunity spanning only the next six months.

How this could have been pulled off so far is a testament, once again, to the irresistible force of Wall Street manipulators using cash settlement; they are able to create a crash where there is hardly any surplus oil at all. Yet even as the Empire of Chaos frantically manipulates the oil price down, it may not go down fast enough to destroy the Russian economy.

Even Reuters was forced to admit briefly the oil surplus was less than two million barrels a day, and may even be alarmingly less than a million barrels a day before returning to the usual oil-at-an-all-time-low story. This information on the real oil surplus so far had been completely censored. It confronts head on the hegemonic US narrative of surpluses lasting forever and the imminent collapse of the Russian economy.

As for Saudi Arabia, it's just a mere pawn in a much nastier game. Common sense now rules that it's essentially a matter of Black Daesh (the fake "Caliphate") and White Daesh (the House of Saud). After all, the ideological matrix is the same, beheadings included. It's the next stage of the oil war that may well decide which Daesh will be the first to fall.

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Pepe Escobar is an independent geopolitical analyst. He writes for RT, Sputnik and TomDispatch, and is a frequent contributor to websites and radio and TV shows ranging from the US to East Asia. He is the former roving correspondent for Asia (more...)
 

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