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Campaign Against Saudi Oil
Randa Takieddine Al-Hayat 2004/03/3
When Iraq invaded Kuwait, and Saddam Hussein set Kuwaiti oil fields on fire, prices rose to over $49 per barrel. However, Saudi Arabia swiftly interfered to make up for the shortage in international oil supply, in order to maintain prices and prevent an international economic crisis.
When the Venezuelan oil sector went on strike, in protest to the policy of Venezuelan President Hugo Chavez, Saudi Arabia immediately made up for the shortage, in order to maintain the prices.
In addition, when Iraqi oil supplies decreased due to Saddam Hussein's policy, and later because of the American war on Iraq, Saudi Arabia was always the main back-up source of the international market, in an attempt to maintain stability of markets and prices, and prevent an international crisis.
However, since 9/11, an American campaign against Saudi oil was launched. During the 2002 Osaka conference, an American Department of Energy official presented a list of countries that would supply oil to the United States in the coming ten years. Oddly, Middle Eastern oil was not included. Moreover, chairman of Simmons and Company International - independent investment bank specializing in the energy industry - Matthew Simmons claimed that Saudi Arabia is incapable of maintaining and developing its oil reserve on the long run, due to the decreasing capacity of its production fields.
These claims triggered the suspicions of famous New York oil dealer linked to Zionists, Ed Morris, concerning the Saudi production power. It is known for all reliable oil markets, that in case Venezuelan oil is once again interrupted due to the political situation in the country, or Nigerian oil is interrupted, or something prevents the Basra ports from exporting, only Saudi Arabia would be capable of making up for the international oil shortage.
Within 48 hours, Saudi Arabia could increase its production of 1 million barrels a day, knowing that the current production is of 2 million barrels. Within a short period, it could also produce 10 million barrels, since its real production power exceeds that, according to officials of Saudi Aramco. Saudi Arabia also confirmed oil reserves of more than 260 billion barrels, something that many non-political international companies' experts, agree with.
With a clever strategy, Aramco officials uncovered information made public for the first time. During a conference in Washington, they affirmed that Aramco is capable of producing 51 million barrels per day, based on the current Saudi reserve, and according to a production scenario covering 51 years. They assured that the company maintains its excessive power, currently between 1 and 1,5 million barrels per day, in order to use it in sustaining oil prices case of emergency. Aramco officials showed that the highest level in the Saudi fields flow does not exceed its average of 2%, while the average in American fields, North Sea, and others, varies between 2,4 and 6,9% from their production power.
However, American neo-conservatives and the Zionist lobby wish to ignite a campaign against Saudi Arabia. Oil experts around the world know that Saudi Arabia was capable, thanks to the speed of its production, and its use of the Sheba mine, which provides light oil and has large revenues, of making the Saudi oil greatly available. Moreover, the cost of its production is very low, and the technologies for its use and production are available, unlike Oklahoma or Texas oils for example, or the North Sea which needs additional technologies, and higher prices due to the increase in the cost of its production.
According to director of the Institut Français du Pétrole (French Oil Institute) Olivier Appert, in all cases, and knowing the importance of the Saudi reserve, the "last" drop of oil will come from Saudi Arabia… and this is a long time from now.
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