$200 Oil as Middle East Braces for War?
Tensions in the Middle East are escalating quickly.
On Monday, four oil tankers off the coast of the United Arab Emirates were attacked in what the Associated Press says is “raising the risk” for global energy supplies.
On Tuesday, the Saudi Energy Minister Khalid Al Falih said two oil pumping stations for the East-West pipeline had been hit by explosive-laden drones forcing a shutdown.
And recently the Pentagon put forth a plan for deploying 120,000 troops as U.S.-Iranian relations continue to deteriorate.
Bottom line, this powder keg is about to explode. And when it does, energy analyst Christopher Page of Rystad Energy says: “Oil prices are likely to rise violently.”
And according to MarketWatch, famed energy analyst Matt Badiali, says: “The U.S. and Saudi Arabia have backed Iran into a corner.”
“There is petty sabotage going on right now with tankers near the Strait of Hormuz and the drone attack on the Saudi pipeline … if that accelerates, we will see oil prices increase sharply.”
Badiali went on to say: “Any escalation could send oil prices skyrocketing to $200 or more.”
However, Badiali points out that “no matter how oil prices go, American’s won’t feel it at the pump like we did the last time oil prices hit shocking highs.”
In a brief new video(click here to view), Badiali lays out how America is no longer under the thumb of Saudi Arabia and OPEC, thanks to a new technology that is taking America from energy independence to total energy dominance.
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