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Bombshell: King Of Jordan Blames Turkey For Terror In Europe, Says Israel “Looks Other Way” On Al-Qaeda

Bombshell: King Of Jordan Blames Turkey For Terror In Europe, Says Israel “Looks Other Way” On Al-Qaeda

When Vladimir Putin told the world that ISIS gets a significant portion of its funding by selling oil to Turkey, he had just finished meeting with Jordan’s King Abdullah.

The King is no stranger to confronting the jihadists. Last year, Abdullah threatened to fly combat missions against Islamic State himself following the release of a horrific video that depicted a Jordanian pilot being burned alive in a cage.

Here is the picture the King sent to the militants:

In January, Jordan agreed to share intelligence with Russia in the fight against ISIS and when the French began flying sorties against the extremists following the Paris attacks, their staging ground was an undisclosed Jordanian location.

In short, Jordan has at times appeared to be more genuine in its commitment to fighting extremism than say, the Saudis, whose determination to spread Wahhabism adds fuel to the ideological fire that drives the groups the kingdom claims to be fighting. “The global war — what I call the Third World War by other means — is one that is a generational one,” Abdullah told CNN in January. “Not only inside Islam, as we as Muslims gain the supremacy against the crazies, the outlaws, of our religion, but also reaching out to other religions that Islam is not what they have seen being perpetuated by 0.1% of our religion.”

On Friday, we learn that Abdullah met with US lawmakers in secret during the week of January 11 and disclosed that British SAS forces as well as Jordanian soldiers had been on the ground fighting ISIS in Libya since at least the beginning of the year. ”

…click on the above link to read the rest of the article…

The Coming Collapse of Saudi Arabia

The Coming Collapse of Saudi Arabia

 

They met in secret to plan a devastating attack…

Two powerful men, colluding at a palace in the Middle East.

In September 2014, U.S. Secretary of State John Kerry flew to Saudi Arabia. He was there to meet with King Abdullah, the country’s ruler and one of the richest men in the world.

Informed observers say Kerry and Abdullah drew up a plan at this meeting to destroy their common enemies: Russia and Iran.

To carry out the attack, they wouldn’t use fighter jets, tanks and ground troops. They would use a much more powerful weapon…

Oil.

Oil is the world’s most traded commodity. Saudi Arabia is the world’s largest oil exporter. It has arguably more control over the price of oil than any other country does.

Insiders say Saudi Arabia agreed to flood the oil market at this secret meeting. The purpose was to drive down the price of oil. This would hurt Russia’s and Iran’s economies. They both depend heavily on oil sales.

They wanted to hurt Russia for supporting their regional foe, Syrian President Bashar al-Assad. They wanted to hurt Iran for the same reason. Iran is the Saudis’ fierce geopolitical rival in the region.

Their strategy has had some success.

As you can see in the chart below, the price of oil has plummeted over 70% since John Kerry’s secret meeting with King Abdullah in September 2014.

There’s so much conflict in the Middle East—but oil prices are falling.

And despite China’s economic slowdown…it still imported more oil in 2015 than in 2014. China is the world’s number two oil consumer behind the U.S.

Turmoil plus demand says oil should be going up, not down. But the mystery is explained by the Saudis’ oil war and their strategy of flooding the market to bankrupt competitors.

…click on the above link to read the rest of the article…

Another Conspiracy Theory Becomes Fact: The Entire Oil Collapse Is All About Crushing Russian Control Over Syria

Another Conspiracy Theory Becomes Fact: The Entire Oil Collapse Is All About Crushing Russian Control Over Syria

While the markets are still debating whether the price of oil is more impacted by the excess pumping of crude here, or the lack of demand there, or if it is all just a mechanical squeeze by momentum-chasing HFT algos who also know to buy in the milliseconds before 2:30pm, we bring readers’ attention back to what several months ago was debunked as a deep conspiracy theory.

Back then we wrote about a certain visit by John Kerry to Saudi Arabia, on September 11 of all days, to negotiate a secret deal with the now late King Abdullah so as to get a “green light” in order “to launch its airstrikes against ISIS, or rather, parts of Iraq and Syria. And, not surprising, it is once again Assad whose fate was the bargaining chip to get the Saudis on the US’ side, because in order to launch the incursion into Syrian sovereign territory, it “took months of behind-the-scenes work by the U.S. and Arab leaders, who agreed on the need to cooperate against Islamic State, but not how or when. The process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority.

…click on the above link to read the rest of the article…

 

This Week In Energy: New Saudi King Can’t Save Oil Prices

This Week In Energy: New Saudi King Can’t Save Oil Prices

The major news story breaking in the oil space today is the passing of Saudi Arabia’s King Abdullah and the succession to the throne of King Salman bin Abdulaziz Al Saud. This comes at a time when oil prices have fallen over 60 percent since June 2014, aided substantially by OPEC’s decision in November not to cut crude oil production. In recent months, the rhetoric from Saudi Arabia’s oil minister Ali Al-Naimi has been that the Kingdom, home to more than a fifth of the world’s crude oil, would not intervene and instead allow the markets to decide the price of oil. However, traditionally, incoming kings have opted to appoint new ministers to key ministries such as oil and finance. While Al-Naimi has expressed his desire to retire soon, this is not expected until sometime after the June meeting of OPEC, a key catalyst for oil price recovery in 2015.

At present, the Saudi budget, which depends on petroleum exports for 85 percent of its annual revenues, balances at around $63 a barrel. This may partly explain Saudi Armaco’s latest decision to diversify its operations by, “investing big in gas,” at a field near Jordan according to its Chief Executive Officer Khalid Al-Falih. With oil prices hovering around $46 this morning and many predicting a prolonged period of depressed prices, Saudi Arabia will be forced to dip into its $800 billion dollar cash reserves to handle the largest deficit in its history of $38.6 billion. These domestic, fiscal problems, the oil price situation, coupled with regional conflicts and even minor ISIS incursions on the Saudi Arabian border all signal a baptism of fire for Saudi Arabia’s new King Salman.

Meanwhile, two fellow OPEC members are facing their own unique set of challenges. Firstly, Iraq has reportedly lost around 50 percent of its revenues from oil exports and has consequently had to boost output to record levels just to stay afloat, according to Bloomberg. This move saw OPEC’s overall output rise by 80,000 barrels a day last month reaching a total of 30.48 million, with the drop off in Libyan supply being covered by Iraq and then some. While some stability has returned to Iraq following a deal with the Kurdistan Regional Government, according to Iraqi Prime Minister Haidar al-Abadi, the loss of oil revenues greatly impedes the fight against ISIS and threatens the Iraqi oil industry’s long-term survival and ability to maintain capacity at such high levels.

…click on the above link to read the rest of the article…

 

The Saudi Succession: Its Impact On Oil, Markets And Politics

The Saudi Succession: Its Impact On Oil, Markets And Politics

As reported earlier, several hours ago Saudi Arabia announced that its 91-year-old King Abdullah had passed away, in the process setting off what may be a fascinating, and problematic, Saudi succession fight which impacts everything from oil, to markets to geopolitics, especially in the aftermath of the dramatic political coup in neighboring Yemen. As a reminder, it is Saudi Arabia whose insistence on not cutting oil production with the intent of hobbling the US shale industry has led to the splinter of OPEC, and to a Brent price south of $50. Which is why today’s event and its implications will be analyzed under a microscope by everyone: from politicians to energy traders.

Here, courtesy of Ecstrat’s Emad Mostaque, is an initial take at succession, the likely impact on oil, then the Saudi market & currency and finally regional politics.

Succession

The process of succession appears to have run smoothly with Prince Salman (79), Abdullah’s half-brother, being announced king and another half-brother and the youngest of his generation (at 69) Prince Muqrin being anointed the new Crown Prince as expected. King Salman has significant financial and power backing as one of 7 sons of Hassa al Sudairi (known as the “Sudairi Seven”) and King Abdulaziz and as such is unlikely to be challenged. Salman is commonly known for his charitable giving and conservative nature, please contact us for other details.

…click on the above link to read the rest of the article…

 

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