Two years ago, Saudi Arabia and the other OPEC nations declared an oil
war with America…
On November 30th OPEC will meet to admit they have lost that conflict…
ENERGY WAR GUEST: Dan Perkins, is a Registered Investment Adviser with over 40 years of investments experience investing in all asset classes all over the world. Energy has been a core investment for Mr. Perkins and his clients for the last 25 years. His energy experience includes direct ownership oil, natural gas wells and drillers, pipeline companies, and royalty trusts along with Master Limited Partnership. In recent years he has invested in Compressed Natural Gas conversion of trucking and public transportation fleets away from diesel fuel.
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“At this month’s meeting OPEC will try to decide about the possibility of a global production cut or even a freeze in crude oil production in order to raise prices. The speculation about this conference is the fact that the production increase war failed and OPEC is on the verge of extinction.
The Saudi’s and OPEC thought by flooding world markets with oil, they could eliminate competition and also put oil companies in America out of business. Having done so, they would gain a larger market share and reassert their power to control global economies. There is no question that many people lost billions of dollars in this power play by the OPEC countries.
The mistake that OPEC and the Saudis made, in my opinion, was the failure to understand the resolve of American oilmen. This foreign effort did shut down production, closed down a number of rigs drilling for oil, and in some cases, caused companies to go out of business. While successful in the short term, Saudi Arabia and OPEC may have paid a very high price for this war
On Thanksgiving Day 2014, Saudi Arabia and OPEC declared war on the American oil fracking industry. I watched as on that Thanksgiving Day, the price of crude oil dropped by almost five dollars a barrel.
Later that weekend the Saudi oil ministry told us that they had declared war on American oil companies. They wanted to drive these upstarts in the Dakota’s and in other parts of the country out of business. I first wrote about this attack the following week, long before anyone else was writing about this new war.
Saudi Arabia, who was the leader of this war, didn’t count on the possibility that Saudi Arabia and many of the OPEC nations would see the devastation to their own economies. The revenue loss from the reduced sale of crude oil put enormous pressure on the financial reserves of all the OPEC nations.
The International Monetary Fund, IMF, said earlier this year that a drastic reduction of oil revenue could create such a significant problem for Saudi Arabia that this once mighty nation could be bankrupt by the year 2020.
Other nations in OPEC like Venezuela and Nigeria are probably already bankrupt, and the remaining members of OPEC are rapidly moving towards their own bankruptcies if oil doesn’t get above $60 a barrel. The “Independent” projected that Russia, if oil prices continued to stay low, would run out of financial reserves by the end of 2017.
How ironic that just two years ago Saudi Arabia thought they could conquer the world by driving down prices, and now they desperately need prices to go up in order to have a chance of survival.”
READ MORE: dailycaller.com/2016/11/28/the-oil-war-is-over-and-america-has-won/
PLUG BOOK: http://www.amazon.com/The-Brotherhood-Red-Nile-Responds/dp/1460251008/ref=pd_rhf_ee_s_cp_1?ie=UTF8&refRID=1SJ574PKMZ7Q0S351GAC
BIO: Author and master storyteller Dan Perkins presents the first book in his trilogy about terrorism against the United States. The first in the series, The Brotherhood of the Red Nile, A Terrorist Perspective, has propelled him to national acclaim with interviews on radio, television and in-print. With the second installment, The Brotherhood of the Red Nile, America Rebuilds, we get a closer look into the mind of an ingenious writer. Picking up where book one ends, book two delivers more intrigue and mystery while striking terror in the hearts of readers as we ask the question: How in the world can we stop this from happening?
WEBSITE: danperkins.guru
TWITTER: @dansbeak
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