An Iranian military fighter plane flies past an oil tanker during naval manoeuvres in the Gulf and Sea of Oman April 5, 2006. REUTERS/Fars News/File Photo
Panos Mourdoukoutas, Forbes: The Coming War Between Saudi Arabia And Iran Will Make American Frackers Very Rich
Saudi Arabia and Iran are moving closer to a direct military confrontation that has the potential to disrupt Middle East oil supplies and push crude oil prices back towards the $60, even $100, level.
That’s a dream scenario for American frackers who will have to pump oil as fast as they can to make up any supply shortfall to America’s allies.
For several years, Saudi Arabia and Iran have been trying to resolve their religious and political differences by fighting proxy wars that had little impact on oil prices. For a simple reason: they didn't want to cause any disruptions in the flow of oil from the Persian Gulf. Besides, Washington has been the de facto guarantor of the free flow of oil from the Gulf to its Asian and European allies.
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WNU Editor: The ones who would benefit .... Russia. Venezuela, Nigeria, Libya, Canada's oil industry, industries in renewal industries, and yes .... American frackers. The ones who would lose .... well .... everyone else.
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