RE:A few drones take outdivime1 wrote: 50 % of Saudi's oil production . Imagine what a war with Iran would do . They would be shipping nothing for years . Meanwhile Canadian oil is land locked by Skippy and a few tree huggers .
1. There will be no war with Iran. Saudi ruler of all people doesn't want it because he has the most to lose. This will stay a Saudi-Yemen war and Iran will continue to provoke and nobody will do a thing to Iran, except outside of Iran.
2. There is excess capacity for oil production. Russia has already brought theirs online after many months of maintenance of its sour contamination fiasco last year. Iraq and Nigeria are already exceeding their quota as of last month. Iran is getting creative in selling its oil mid-water and eventually their production will inevitablly come back to the market one way or the other.
3. The new Saudi oil minister has a job. And it's not continuing the old minister action of losing market share and bankrupting the country. Saudi Arabia has big fiscal difficulties right now producing 8M bbl/d when their capacity is 11M bbl/d. Why should they cede market share to US shale whose cost is $50/bbl when their own is $8/bbl?
4. Skippy is Pierre Poilievre. Don't get your nicknames mixed