Crude Oil: Why the Story Matters... Or Does It?
Crude Oil took a sharp rise today in price, with the official story focused on an attack on Saudi Oil via drone strikes - which has destroyed an estimated 5% of the world's crude oil supply.
The news state that everything is under control, while at the same time throwing the blame on Iran, which is suspect - about as suspect as Iran being blamed for the mines that were placed on oil tankers earlier this year. Twitter disagrees with the news, with fresh pictures of the scene being uploaded constantly, showing that the situation is not "under control" in Saudi Arabia.
The first rule of war: all information that is freely given to the public is a deception. If you believe the news when they are reporting on any kind of military conflict, you aren't getting the full truth; ever. Sometimes you get outright lies, and sometimes the story gets twisted. More often than not the official story is a red herring meant to distract the public from looking deeper.
But let's say I had not heard about the Saudi Oil event, or the politics surrounding the event.
Let's say I was only watching the charts for crude oil:
Well, look at that, the price broke out of a pattern that was leaning towards an upward breakout in price, but it's a huge spike for a single day.
In fact, if I was living in a cave and the only information I had at my disposal was this chart, I would want to know the story behind such a big move for a Monday morning.
the problem with "the story" is that everyone has their own version of it.
The Houthi from Yemen claimed responsibility not long after, while the so-called "fake news" in the west claims it was Iran and Iraq because that is "the direction the drones came from."
Occam's Razor suggests that this attack is not a one-off, and Iran is probably trying to figure it out before Saudi Arabia gets its wish and the US attacks Iran.
Is the attack related in any way to Osama Bin Laden's son being killed a few days ago with the blessings of the US? It would be a stretch to say the two events are completely unrelated. The Bin Laden family just so happen to be wealthy and in the construction business. If you try to google which Saudi family owns the oil fields that were just attacked, you'll find nothing because it is state-owned, which means a lucrative contract to rebuild. It doesn't take a wild guess to see who could get such a lucrative construction contract.
Maybe no one is asking the question because the answer is obvious: the bin Laden family just so happens to be from Yemen, their estranged grandson that continues the family embarrassment just got wacked, and then Yemen Houthe's take credit for the oil attack. Coincidence?
So now Saudi Arabia's military, aka the US Military, is being squeezed to react to this incident and attack Iran on very little evidence, much like with Iraq under Bush Jr. Then there's Israel's involvement. It seems that it's either bone dry or flooding in the middle east, never any in between.
But the important take-away here is that the story does matter to some degree, even if none of us have the full story at this time, and maybe we never will. What I am certain of, is that someone is getting played on the world stage, and the US is certainly behaving like they are, as well as the media that must and will parrot the official story.
thanks for reading. Stay safe and keep your head up.