A Quote by Andrew Nikiforuk
There are two perspectives on the oil sands. You have companies that want to make it the next Saudi Arabia. The other is that it's a transitional resource to a low-carbon economy, and to regard it as anything else is to drain the continent's financial resources.
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There's no question that tar sands in Canada are probably the largest source of oil available to the U.S. over a long period of time. There's as much oil in the tar sands probably as there is in Saudi Arabia. The problem is, there's a huge capital requirement to develop that.
Americans want to democratise us. OK, but why not go and democratise Saudi Arabia. Are we anything like Saudi Arabia? No, we are far from that. So why aren't they democratising Saudi Arabia? Because they are bastards, but they are their bastards.
High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
Traditionally, all the kings of Saudi Arabia have been sons of the founder of Saudi Arabia, and they've gone from one son to the next.
So, I think even in Saudi Arabia there is movement. And we have to remember that over the years they've stabilized the oil price and that is tremendously important for the economies of the world. I think we have no choice but to work with the government of Saudi Arabia.
The U.S. economy will tank if either China withdraws its money from the U.S. Banks, or Saudi Arabia stops depositing its oil money in U.S. bonds, or even if the oil trade goes off the dollar.
State oil companies in Saudi Arabia, Africa, Iran, and Mexico have often been intelligence targets for the United States.
Saudi Arabia is, of course, the keystone of OPEC. Saudi Arabia has had the distinction of remaining stable through all the escalating tumult of recent decades, reliably pumping out its roughly 10 million barrels a day like Bossy the cow in America's oil import barn.
Who on earth do the Americans suppose their allies are amongst the Arab world? Even Saudi Arabia they seem to regard as nothing more than a resevoir of oil and money.
Tar sands oil is the dirtiest fuel on Earth. Because producing it consumes so much energy, a gallon of tar sands crude generates 17 percent more carbon pollution than conventional crude oil.
When the Industrial Revolution started, the amount of carbon sitting underneath Britain in the form of coal was as big as the amount of carbon sitting under Saudi Arabia in the form of oil, and this carbon powered the Industrial Revolution, it put the 'Great' in Great Britain, and led to Britain's temporary world domination.
The big risk in Saudi Arabia is that Ghawar's rate of decline increases to an alarming point. That will set bells ringing all over the oil world because Ghawar underpins Saudi output and Saudi undergirds worldwide production.
What are the prospects for an Arab state serving a leading role comparable to the role that other states place in other regions? There is no obvious candidate. Saudi Arabia has the money but a relatively small population. Iraq was a great potential leader, as a sizable country with great oil resources and a highly educated population, but it went off in the wrong direction.
Financial service providers act as the lubricating oil in the economy. They link consumers who want to invest their savings for a good return with companies who want to borrow on best terms for expansion.
Saudi Arabia is the bulwark of our relationship, especially when it comes to Iran, and without the partnership of Saudi Arabia and our other Gulf allies, we would not be able to have the maximum economic pressure campaign that we have.
Many other countries in the region also have money and oil, but they haven't done much good with it - at least not enough to stop the Middle East's disastrous wars. Saudi Arabia at least has something else: stability, a scarce commodity in the region.
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