Can the World Survive without Saudi Oil?

[TT7 0]

saudi is lider Arab countries ، 

it's impossible

[Mohammed Abou Bakr 0]

No.

[Refman + 207]

On 10/14/2018 at 12:05 AM, Marina Schwarz said:

Can the World Survive without Saudi Oil?

Let's turn it around, can Saudi survive without selling the world oil?

They've been running a sizeable deficit for quite a few years now, despite selling oil way above it's extraction cost.

Maybe they need the world more than the world needs Saudi oil

[Dan Warnick + 6,100]

8 minutes ago, Refman said:

Let's turn it around, can Saudi survive without selling the world oil?

They've been running a sizeable deficit for quite a few years now, despite selling oil way above it's extraction cost.

Maybe they need the world more than the world needs Saudi oil

Ever heard of a ghetto millionaire?  That's when you drive through the ghetto and count how many houses have Lincoln cars out front, up on wood/concrete blocks!  I imagine for the Saudis it would be more like Mercedes-Benz' on blocks!

[Guillaume Albasini + 851]

Saudi oil production was 12,8% of the world oil production in 2017.

Can we live without that oil ?

The answer is yes. We only need to improve fuel efficiency and reduce consumption.

Some basic tips can help you to reduce the gas consumption of your car

- Keeping your car well tuned and the tires properly inflated :  economy 1 or 2%

- Removing from your car the items you carry and you don't need : economy 1 or 2 % for every 100 pounds of weight

- Reducing the speed : economy 20% for going 65 mph on the highway instead of 75 mph.

- Adopting "stop-start" technology : economy 5%

These are just some of the tips listed here :

https://www.ucsusa.org/clean-vehicles/fuel-efficiency/how-to-maximize-fuel-economy#.W8eUIWNoRPY

 

There is room for improving fuel savings in transportation but also oil use in heating of manufacturing.

So... reducing world oil consumption by 12,8% is possible

[Tomasz + 1,608]

Do you really want to start global revolution in oil industry because one journalist was probably killed?

And apart from that West actually is in conflict with Russia, Iran and Venezuela. Western community destroyed also Libya and Iraq and Trump plan to destroy Iran.

 

 

 

 

[NatGasDude + 94]

9% of our imports come from Saudi Arabia, 40% from Canada, the rest are single digits from others. Oil prices would sky rocket, but it would not be intolerable. It may be time to start aggressively developing alternatives, LNG/renewable natural gas engines/freight propulsion(already taking over the ship industry with MEGI/XDF/dual fuel diesel engines..)

My point being that the US economy is not a one trick pony, and there would be PRICE pain as opposed to actual full blown shortages like the 1970's embargo. Soaring global prices would lead to US energy companies making more profit per Boe, but petroleum/commodity consumers would face much higher costs as well.

It is also worth considering the fact that Saudis contribute to terrorism behind the scenes, and conducting a massive amount of arms trade with them is not necessarily a positive for global security.

There is no 'good' solution to this issue, but I don't like the fact that we are directly benefiting and backing morally bankrupt regimes.

[AE911truth.org + 17]

On 10/16/2018 at 8:24 PM, mthebold said:

I don't think anyone cares about genocide in the Old Testament, that being ancient history.  It does, however, illustrate their morals.  Their God directly commanded them, the Chosen People, to kill others.  Would they do that again?  I don't know.  I haven't heard them renounce that particular piece of their scripture, nor have I seen anything resembling contrition.

A major branch of Judaism (Reform) basically renounces "any fixed, permanent set of beliefs, laws or practices... All the People Israel are a further link in the chain of revelation, capable of reaching new insights: religion can be renewed without necessarily being dependent on past conventions." https://en.wikipedia.org/wiki/Reform_Judaism

 

[Marina Schwarz + 1,576]

10 hours ago, Refman said:

Let's turn it around, can Saudi survive without selling the world oil?

Nope. My point exactly.

[NatGasDude + 94]

13 hours ago, Marina Schwarz said:

Nope. My point exactly.

I agree as well. This is precisely why they are getting desperate to diversify into Russian LNG projects.

[Jan van Eck + 7,558]

On 10/17/2018 at 10:05 PM, mthebold said:

Well, there it is: Judaism is non-static and possibly quite diverse.  Additional perspective gained; issue resolved. 

I learned something today.  Thank you, @AE911truth.org

Nope, you didn't learn anything today.  Issue not resolved. 

I wrote you a long post on this but it mysteriously vaporized.  I shall attempt to recall the thread soonish. 

[Guillaume Albasini + 851]

A good article on why it wouldn't be a good idea for KSA to weaponize oil with hike threats...

https://www.politico.com/magazine/amp/story/2018/10/18/saudi-arabia-oil-221612

[Jan van Eck + 7,558]

5 hours ago, mthebold said:

Standing by...

Sorry, dropping out of the Forum.  See my post on the juvenile food fight.

[TraderTate + 186]

On 10/15/2018 at 3:54 AM, Jan van Eck said:

Marina, you are not being realistic.  The USA under The Donald is quite capable of anything.  If The Donald decides that KSA needs a serious reprimand, he can do so by instituting a tariff on all incoming Saudi Oil in the amount of $50/bbl.  He can also saber-rattle, and he can create blackballs of multiple Saudis, including MbS himself  (and that would be interesting, considering that then you have two narcissistic personalities at direct loggerheads, and neither is going to back down.) 

Now, ask yourself this: does this somehow "punish" the American consumer?  Of course not!  Yes, it blocks all Saudi oil into the US, as a practical matter, as nobody is going to pay the tariff premium.  The US will be buying more oil from others.  The Saudis will continue to sell oil, but I hazard the guess that it would be at a discount, the discount being the amount that would entice a buyer or broker to risk buying the oil only to have it intercepted at sea by the US Navy and impounded, or worse, expropriated  (hey, could happen).  Saudi cargoes would become pariahs and uninsurable. 

Meanwhile, the US consumers will be going to product substitution, including trucking companies reducing speed to increase fleet mpg, and homeowners going to alternative heating fuels, specifically wood pellet stoves, which have achieved a high degree of efficiency. Even cow manure will be reprocessed into boiler fuel. 

The net result, other than product substitution, is a re-shuffling of the deck chairs as to who buys what, and a serious drop in the receipts for the same oil it previously sold to the USA, and now has to discount to find buyers for.  Given the deficit spending of the KSA, it is not realistic for them to withdraw from the oil markets and leave their oil shut in.  They have to sell, the oil is radioactive to traders, and KSA has to discount. Ouch. 

Except that Trump is foaming at the mouth over MbS very lucrative reform plan, which the hardline opponents to MbS are now doing everything in their power to derail--taking ultimate advantage of this situation. 

[Dan Warnick + 6,100]

2 hours ago, Jan van Eck said:

Sorry, dropping out of the Forum.  See my post on the juvenile food fight.

That's no solution, Jan.  The forum was joined by a few people that more or less want to question all things carbon, stridently and even childishly at times, and rebuttals were given to highlight the stridency and childishness of the comments.  As it stands, both sides have calmed down and the discussion is continuing in a more balanced manner.  Your points are well taken, as they should be, and we all have had time to reflect.  It serves no-one, especially the greater forum participants and readers, to lose your very insightful and intelligent input.  I hope you will reconsider.

[Dan Warnick + 6,100]

7 minutes ago, mthebold said:

I'm not familiar with that post.  Link?

Scroll down to Jan's comments to let you know his thoughts.

Then you would need to go to this thread to see what he is talking about.  The thread was officially locked today.

[PeterfromCalgary + 60]

The world can survive without Saudi oil as the sun will still rise and set.  However, it's loss would create a humanitarian and economic crises.  Fast developing but still poor countries without much of their own oil like India and Turkey would be hit hardest as their currencies and economies collapse.   In the long run the world would recover as new oil development and conservation get priority.  I not sure Saudi Arabia would ever recover as this would destroy demand for it's product.

The good news is some pipelines would finally be built to get Alberta oil out to market.  I can see the Energy East getting priority as it would take Alberta oil to Canada east coast which currently imports oil from the Middle East.  Canada's anti fossil fuel Prime Minister Justin Trudeau would pay a heavy political price for his decision to kill that and other pipelines with devastating over regulation.  Hopefully this event would destroy anti fossil fuel politicians everywhere! 

[Kristian Solberg 0]

Can Saudi Arabia continue to grow without Western USA/EU aid?

[John Foote + 1,135]

Resigning from NEOM is to resign from what we used to call in high tech, "vapor ware." It's not going to happen anyway.