© Ya Libnan/Hani AmaraPrince Mohammed bin Salman
And while MBS is known to engage in hyperbole when it comes to the threat Iran poses, recent events suggest he may have a point here. But what are these unimaginably high numbers he is suggesting? $100 per barrel? $300 per barrel? And what would the world look like if prices really went that high?
The recent drone attacks on Saudi Aramco's oil facilities, which took 5.7 million bpd offline, have been largely attributed to Iran - even if the Houthis have claimed responsibility for them. This attack was evidence that Iran does have the means to strike at the heart of Saudi oil structure and, in an all-out war, it is reasonable to suggest a strike on those facilities could be far more devastating. In that scenario, those 5.7 million bpd could be taken offline permanently - leaving the global oil industry in a very precarious position.
Comment: Deterring Iran would be a long-term, full time job and a drain of resources without satisfactory conclusion. It is equal folly to believe the West will come to grips and achieve a pacific stasis if it continues on its present course of belligerence, economic chaos and threats of outright war. Simply put, there is more to lose than gain.
Comment: See also: