Who’s funding the Funders of Muslim Terrorists?
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I was following a link from Instapundit and included in an article on another topic was this blurb:

By the end of November the US had already imported more than 450m (million) barrels of crude from Saudi Arabia, more than it imported from Riyadh in the whole of 2009, 2010 or 2011, according to figures from the US energy department. For the first time since 2003, Saudi imports accounted for more than 15 per cent of total US oil imports. The Gulf as a whole accounted for more than 25 per cent, a nine-year high. Other Gulf exporters are also seeing unusually strong US demand. By the end of November, Kuwait had shipped more oil to the US than in any year since 1998.

Can someone explain why this shift to further reliance on Mideast Oil sources is occuring? Is especially perplexing since we seem to produce lots of energy resources internally so I would think overall imports would be falling. So other sources we used to rely upon are taking a double hit it seems. It just doesn’t add up.

Comments

Who’s funding the Funders of Muslim Terrorists? — 10 Comments

  1. So they are forcing middle men to accept deliveries vs payment or future payment just to keep in storage? Why would the middlemen do this, are they captive companies? Who is financing the inventory sitting in storage? What you are saying is the Saudis et al need the cash, so if cash moves to the ME the risks are being shifted to someone. Who is it, why are they doing it and who is on the hook if oil prices plunge?

  2. The Gulf as a whole accounted for more than 25 per cent, a nine-year high.

    Huh. In addition to your own internal resources, if only there were a major oil producing nation, with a stable, reasonably friendly government, anxious to sell you her oil, anxious to build a pipeline in order to sell you her oil, and located nearby, say, right on your northern border.

    Nah, that’s just crazy talk.

  3. Those Saudi sales are being taken from three other usual suppliers: Nigeria, Mexico, and Venezuela, even while imports are down. The first is unstable and going through sectarian violence, the second is supplying increased domestic demand in a growing economy, and the third is a basket case with a dead/dying dictator. Meanwhile, the Saudis have extra capacity and like to use it to influence/bully OPEC. It’s a match made in Heaven!

  4. I believe Iranian oil is going to China.

    I don’t think there is any doubt about it. China has soaked up about a quarter of Iran’s petroleum exports for several years now, and there doesn’t seem to be any intention on China’s part to slow that level.

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