Many had wondered why Saudi Arabia was supporting United
States in keeping oil prices high. Now it has become evident that the US wanted
to keep crude oil prices high as it was working on shale oil extraction. In
this exercise first Iraq was encouraged to attack on Iran and war continued for
almost a decade. Then sanctions were imposed on Iran to curb its oil export.
Turmoil was created in Iraq in the name of regime change to disrupt its oil
export. Libya was also a victim of oil vultures. And the latest drama is being
staged with the connivance of ISIS. Many of the countries are facing US
bombardment in the name of demolishing ISIS hideouts. Have the Muslims ever
bothered to find out the rise of ISIS, its funding and colossal military might.
The reply is simple ISIS has not emerged overnight but part of the Zionist
agenda to destroy Muslim countries, particularly those producing oil and Saudi
Arabia is the prime target
Ironically Saudi Arabia still suffers from a dilemma that
United States is its best friend. Saudis have been completely brain washed as
they say ‘Iran is a bigger enemy as compared to Israel’. This perception has also enabled the US to
sell billions of dollars arms to Saudi Arabia. Oil prices were kept high to
facilitate Saudi Arabia to earn more of petrodollars that were taken back as
price of arms. Saudis were annoyed when the US refused to attack Syria, mainly
due to the opposition of Russia. The breach between Saudi Arabia and the US
further widened after the super powers arrived at an agreement to ease sanctions
on Iran.
While Arabs remained engrossed in their petty matters, the
work on shale oil continued at full swing and the result is that today United
States has emerged as world’s largest oil producers. This means that not only
the biggest oil market will be lost but United States will also emerge as the
biggest competitor of Saudi Arabia in the global oil market. The signs of oil
glut have already started appearing, oil
prices have plunged substantially and the fall is likely to continue because the
US does not seem in a mood to curtail shale oil production.
The US cronies have already started putting pressure on OPEC
to curtail production to resist further fall in oil prices. As opposed to this
Saudi Arabia, the biggest oil supplier among OPEC members seems adamant to
retain its share in the global market by selling oil to Asian buyers at a
discount. This is killing two birds with one stone, retain its petro dollar
income and snatch share of Iranian market, Iran supplies oil to Asian buyers
that include China, India, Korea and Japan.
In the prevailing scenario it seems that Saudi Arabia has no
solution, except drift with the tide. If it considers that it has got the muscles
and can also afford to flow against the tides, it has to let oil prices slip to
a level where production of shale oil becomes uneconomical.
It is true that in the short-term Saudi Arabia may emerge as
the biggest looser and other OPEC members may not subscribe to the strategy.
However, it is the question of collective survival of OPEC members who control
40 percent of global oil production.
Muslim countries, particularly Arab monarchs have to come
out of ‘Iran phobia’ and identity their real enemies. They have wasted
trillions of dollars in fighting US proxy war and the time has come to protect the
interest of Muslim collectively irrespective of which language they speak or
sect they belong to. The enemies have prevailed over by deepening the sectarian
divide and spreading animosity in the name of Islam. The enemies are trying to
portray killing as prime mission of Islam, which is totally incorrect. Islam is
religion of love and peace for all irrespective of faith, cast and creed.
