Saudi Arabia pledges to make up for Iranian Oil pulled from the Market due to Sanctions

Posted by PITHOCRATES - January 15th, 2012

Week in Review

New Iranian sanctions may take their oil off the market.  No worries, though.  For our friends the Saudis will make up for that lost oil (see ‘Saudis have enough oil to make up for Iran’ by Reuters posted 1/14/2012 on The Jerusalem Post).

Saudi Arabia says it has enough oil output capacity to meet global customers’ needs if new sanctions keep Iran from exporting oil, a top US Republican lawmaker said on Friday.

House of Representatives Majority Leader Eric Cantor spoke to Reuters by telephone from Europe after several days of meetings in the Middle East, including Saudi Arabia. Saudi oil minister Ali al-Naimi was among the officials he met.

“The Saudi government indicated that it was ready and able to meet needs of its customers,” Cantor told Reuters. Saudi Arabia is the world’s largest oil exporter. Its top customers include the United States, Japan, China and South Korea.

Saudi Arabia is a friend of peace and stability.  And of the United States.  Like Egypt used to be.  Before we asked Hosni Mubarak to step down before giving him a chance to introduce reforms.  Now Egypt may go Islamist.  And be friendlier to Iran.  Something neither the United States nor the Saudis want.  Because a larger Iranian influence in the Middle East will not promote peace and stability.  The common goal of the United States.  Saudi Arabia.  And pretty much every nation not aligned with Iran.

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