• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 17 hours How Far Have We Really Gotten With Alternative Energy
  • 9 days What fool thought this was a good idea...
  • 11 days Why does this keep coming up? (The Renewable Energy Land Rush Could Threaten Food Security)
  • 7 days A question...
  • 12 days They pay YOU to TAKE Natural Gas
  • 18 days The United States produced more crude oil than any nation, at any time.
Editorial Dept

Editorial Dept

More Info

Premium Content

Saudi Arabia’s Attack On The U.S. Shale Patch

Saudi Oil

Tankers carrying some 35 million barrels of Saudi oil are about to hit the shore of the United States, dealing another blow to the US shale patch, while the administration in Washington watches and hopes that the unfolding drama does not gain too much attention ahead of November elections. The oil and gas industry, of course, thinks that if it’s not getting any sort of bailout, it should at least be protected from cheap oil dumping by foreign countries in a time of desperate need. 

That situation led on Thursday to rumors that Trump was threatening to withdraw military support for Saudi Arabia over the Kingdom’s role in the oil price war, ongoing production battles, and the 35 million barrels about to be dumped on US soil. 

Speaking on national television, Trump was vague about any measures to be taken against this greatest of US allies. When asked to confirm, Trump said, “I don’t want to talk about it”, and noted that the administration was “doing some things”, though he continued to defend the Kingdom: “Saudi Arabia is a very wealthy country and they’ve agreed to help defray some of the costs, which nobody else would ever ask for,” the President said about the alleged military moves, adding that “if we’re going to defend countries, they should also respect us by making a contribution.”

Behind the vague “doing some things” is this, and the devil, as always, is in the details: The US is withdrawing two Patriot missile batteries and some fighter aircraft from…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News