Re-reading the 2015 Iraq/Iran Oil Plot against Saudi Arabia diary linked below, helped me understand our present day Iranian Middle East situation. Iran has tons more oil in the ground than Saudi Arabia PERIOD!
Over at Reuters, John Kemp uses the data to take a look at Saudi Arabia, long thought to have a vast and seemingly endless pool of oil upon which to draw. He notes that the Saudi government suddenly upgraded its oil reserve estimates from 170 billion barrels in 1987 to 260 billion barrels in 1989.
Since then, Saudi oil reserves have been unchanged for more than 25 years at 260 billion barrels.
As Kemp wryly puts it, "If the government data is accurate, the kingdom has managed the remarkable feat of exactly replacing each produced barrel with new discoveries or increased estimates of the amount recoverable from existing fields."
www.businessinsider.com/...
Years ago, Iraq and Iran plotted to wrestle OPEC control from Saudi Arabia. The plot was exposed.
When I compiled this 2015 Diary, I was admittedly speculating based on some facts that presented themselves from various sources. In retrospect…...?
Now that it is clear that:
Russia is cozy with Iran;
Trump seems cozy with Russia;
Trump needs distractions from his mired mess of misdeeds;
Bolton the PNAC hawk is back;
Bibi is beating the Iran Nuclear threat drum a g a i n (has been since early 1990s);
We have sold huge amounts of weaponry/fighter jets to Saudi Arabia; and
There is a huge amount of oil ($$$) in the ground bordering Iraq and Iran ready to enrich the winners, the world be damned, the hawks, zealots, and end of times hawkers may win the word war.
Today, higher oil prices are a win win win for all monied oil interests and a loss for cash-strapped ordinary people.
Perhaps the diary’s insights were closer to the truth after all.
Here is the link
www.dailykos.com/...
For history buffs, here’s background history of Iran’s nuclear program
www.dailykos.com/...