Tuesday, September 17, 2019

SO HARD TO GET STRAIGHT

It's so difficult to understand this zany world.  Saudi Arabia gets involved in a Civil War in Yemen.  Their arch-rival in the Moslem world, Iran, becomes involved in the same civil war in which U.S. military now are serving tours of duty in order to assist an ally with whom we have no treaty obligation.  

Since the U.S. not only is self-sufficient in petroleum supplies, and, indeed, exports petroleum products to the rest of the world, in competition with Saudi Arabia, the recent alleged drone bombing attack on a Saudi refinery, in a narrow sense, actually benefits U.S. oil companies who peg their prices to the world price of petroleum which is rising.  Even as our own consumer prices are rising, oil company windfall profits will be rising in tandem.

China is probably the largest consumer of Saudi oil and although they may become the biggest beneficiary of our further intervention in this civil war, I doubt you will find their military involved, although we may have to borrow the money to fight it, from the Chinese.

Crazy world, indeed.


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