“It is perfectly indicative of the scramble that ensues when a mighty power like the United States withdraws, fatigued but undefeated, from much of the world, that . . . ” Conrad Black: The Saudis Fear Western Alliance With Iran; Crashing Oil Is Their Retaliation | Zero Hedge

It is perfectly indicative of the scramble that ensues when a mighty power like the United States withdraws, fatigued but undefeated, from much of the world, that Saudi Arabia, a joint venture between the nomadic and medieval House of Saud and the Wahhabi establishment that propagates jihadism with Saudi oil revenues, makes common cause with Israel in a way that inadvertently relieves much of the Russian pressure on Ukraine, which was not an objective in Saudi calculations at all. From the Western standpoint, this is a lucky bounce of the political football. But it is Saudi judgment of its self-interest opposite the contending factions in Syria and the hideous prospect of a nuclear-armed Iran that is discommoding the Saudi leaders, not the ineluctable exploitation by the United States of its own oil resources. It need hardly be added that any conventional definition of “speculation” has nothing to do with it; nor that the Western panic at the bonanza of a $500-billion reduction in the West’s energy costs or the obdurate failure of most Western commentators to understand the implications of the oil price reduction, are an unflattering reflection on the financial and political acuity of the pundits of our society.

via Conrad Black: The Saudis Fear Western Alliance With Iran; Crashing Oil Is Their Retaliation | Zero Hedge.

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