Iraq's biggest oil refinery at Baiji, 180 kilometers north of Baghdad, was blown up early Saturday, Feb. 26, by an Al Qaeda cell activated by the Iranian Revolutionary Guards Al Qods Brigades, debkafile's Middle East sources report. Tehran is using the Middle East turbulence to generate fuel shortages in Iraq and boost oil prices worldwide.
Thursday night, Feb. 24, saw the first signs of unrest in Saudi Arabia with demonstrations by young people demanding reforms of the kingdom's system of government and by Shiites living and working in the kingdom's oil-rich eastern regions.
The slightest sign of unrest in Saudi Arabia, the world's biggest oil exporter, is bound to affect the price of oil. Iran is the biggest beneficiary of soaring prices.If Saudi Arabia falls, you can count on gas prices skyrocketing to even $10.00 per gallon. America will fall if prices exceed $5.00 per gallon.
Tuesday, March 1, 2011
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