When What Couldn’t Happen… Happened!
Rafe Mair (Canada)
Strategic Culture Foundation
Tuesday January 23, 2013.
Today, with the weather was cold and clear in Washington, D.C. as Barak Obama was sworn in for his second term after a landslide victory where he carried all but two states. He had capitalized on his stern warnings that the United States had to get, in American football parlance, into a “hurry up offence” to wean itself off its reliance on oil as offshore supplies were looking less and less reliable.
That very afternoon, reminiscent of the day Jimmy Carter heard on the day his hated rival Ronald Reagan was inaugurated that on Iran had released its American hostages, the new fundamentalist Peoples Islamic Republic of Arabia (formerly Saudi Arabia) announced it was reducing its oil exports to the US 10% each month until the US withdrew all support, financial and military, of Israel. Mr. Obama pointed out that while out of the 30 million barrels a day the US consumes (up since he first became president in spite of efforts to reduce consumption) Saudi Arabia supplied 1.5 million barrels slightly more than Venezuela and about the same as Mexico. That day oil traded just under $200 per barrel but instantly went up to $225 on the news from Arabia. The president, in warning about the crisis, took solace in the fact that its largest supplier at just under 3 million bbls, was their old and faithful friend, Canada...