Saudis Set To Bankrupt Iran With Flood Of Oil

soooooooo.... theyre going to try to do to Iran what Reagan and the Sauds did to the Soviet Union bankrupting them ?

Saudis have no spare capacity and its been proven....their biggest field Ghawar (biggest in the world) has over 60% seawater pumped in to get the last dregs and the rest of their capacity is heavy sour crude.

Let the oil wars begin.






Saudis Set To Bankrupt Iran With Flood Of Oil
Jun. 22 2011 - 11:24 am | 3,175 views | 0 recommendations | By CHRISTOPHER HELMAN

Prince Turki al Faisal. Image via Wikipedia


Today the Wall Street Journal has a fascinating piece describing a speech given this month by Saudi Prince Turki Al-Faisal. The prince, speaking to a group of U.S. and British servicemen at an airbase near London, explained that Saudi Arabia was so concerned about Iran’s continued march toward attaining nuclear weapons that it was considering opening its oil spigots and swamping the world with oil in the interest of gutting Tehran’s government revenue. The prince insisted that the Saudis still have sufficient spare production capacity that, if need be, “we could almost instantly replace all of Iran’s oil production” of roughly 4 million bpd. Assume for the sake of argument that he’s right and that the Saudis could manage upwards of 14 million bpd. It means that in a worst case scenario


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