It looks like Vladimir Putin and the ayatollahs are preparing to corner the world’s oil supply – literally.
Last May I wrote on this site that Iran was in the process of surrounding the Saudi/Wahhabi oil reserves, along with those of the other Sunni Gulf petro-states. I added that, “Iran’s strategy to strangle Saudi/Wahhabi oil production also dovetails with Putin’s interests. As the ruler of the second largest exporter of oil, he would be delighted to see the Kingdom’s production eliminated or severely curtailed and global prices soar to unseen levels. No wonder he is so overtly supporting Iran.”
We’ve now seen Putin take a major, menacing step in support of the Iranians by introducing combat forces into Syria. Many analysts argue that he’s doing this both to protect his own naval base at Tartus and as some sort of favor to the Iranians. Are those really sufficient inducement for him to spend scarce resources and risk Russian lives, or does he have bigger ambitions in mind? Given the parlous state of Russia’s economy, thanks in very large part to the recent halving of oil prices, he must relish the opportunity now presented to him, in an axis with Iran, to drive those prices back to prior levels.
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