For most of this channel’s existence I’ve worked to remain fairly non-partisan. I’m generally uninterested in the whole performative, substance-free mess of party politics in the United States. I’ve adopted the understandably popular “pox on both their houses” approach. Obama’s foreign policy left plenty for me to bitch about, and it’s easy to cover Trump as if he’s some unique biblical plague, somehow distinct from the party he leads.
But at a certain point you’ve got to acknowledge facts. The Democrats are an uninspiring bunch of managerial, condescending twerps. But if your expectations are low, they can be trusted to be reasonably honest and competent. 20 years, and four disasters have shown us that the Republican party is filled with dangerous anarchists, and even worse, people who pretend to be principled, but are eager to bow down to the dangerous anarchists in charge. This video chronicles the 9-11, Iraq war, 2008, and Coronavirus disasters and the political party that brought them all to us. It also lays out why no other media outlet will talk about this…
This Coronavirus thing impacts everything. The oil market is no exception. I’ve committed to some pretty strong predictions about the future of the oil market and how it means the end of the current regime in Saudi Arabia. I still stand by all of those predictions, but it’s hard to say whether this current crisis accelerates the timeline, or slows it down. Starting March 6th, Saudi Arabia went to war against every other producer in the world.
I believe that the US oil industry will be the most prominent victim. The sustained period of low oil and gas prices we are about to experience may bring us to an inevitable future more quickly. Saudi Arabia will be the last oil producer. The crucial question remains the price at which they are able to sell that oil for. It’s now possible to envision a future where Saudi Arabia controls price again… but only briefly. Today’s video explains…
One of the best things about doing commentary on YouTube is the feedback. Tuesday’s video is the second installment of my series on Algeria. It covers a lot of the same territory as my first video on Algeria, which was mostly just an appreciation of the country’s amazing history. But by posting that first video, I got a ton of comments that helped to guide some reading on my part, that helped me form more confirmed opinions on the country and its history. Tuesday’s video has gotten some very flattering appreciation. A handful of Algerian commentators have pointed out that my coverage is worlds better than any other English language source. This is less a celebration of my work than an indication of how bad US coverage of the country is more generally. I read two books, one of which I don’t find particularly trustworthy, and read about 1,000 YouTube comments, half of which were one sentence critiques of my figures and my neglect of the Berber population. With just that, I was able to do a better job talking about the country than almost any English language journalist. I’m kind of proud of that, but it’s also pretty sad.
All that said, while I’ve gotten a few very positive comments on this video, I’ve gotten many more that are pretty negative. Now that I’m diving deeper into the politics of the country, and making opinions, I’ve triggered a negative reaction. But I take heart from the fact that most of what people are complaining about is my read on the politics of the moment, and what people think of the current president. Nobody is complaining about my take on the history leading up to this year anymore. And with my next video on Algeria, probably a year or so from now, I’ll be able to incorporate criticisms of others. Iterative analysis. I like it.
I can’t believe people don’t spend more time talking about the 666 Fifth Avenue bribe (alleged). It’s one of the most perplexing things to me in US politics. The general impression seems to be that it’s kind of funny?! The President’s son-in-law got an absurd bail out on a losing real estate deal, to the tune of over a billion dollars, and the consequences appear to be nil. When he was trying to get the money from China it was rightly condemned, but now that he got the money from Qatar, through Canada, it’s somehow OK? It’s just a thing that happened? As I point out in today’s video, I think Joe Biden and the political culture that he exemplifies has a lot to do with this…
I dislike reacting to events quickly, the way that this video does. But this channel obviously couldn’t let the attack on the Abqaiq refinery go uncommented on. Saudi Arabia is sort of my bread and butter, and this could very well be the biggest thing that has happened to Saudi Arabia since it’s idiotic decision to invade Yemen back in 2015. Two weeks later, I’m pretty pleased with my coverage. In the video I referred to my surprise that the oil price spike had been so small. My surprise has only grown.
As of today, the price of Brent Crude oil fell back below the 60 dollars a barrel mark. Two weeks after an attack disrupting half of Saudi Arabia’s production, oil prices are back where they were before the attack, but the oil market has changed irrevocably. In the comments, and unfortunately in the video itself, there is a lot of emphasis on how quickly or slowly Saudi production resumes. That’s important, but it’s not that important. Two weeks later, it’s still not entirely clear what the on the ground impact is. The important thing is that the market no longer seems to really care that much. Reading articles on outlets like www.oilprice.com has gotten seriously depressing. It’s become clear that high prices, not really seen since 2014, are not returning any time soon. I said it in the video, and I’ll say it again now, with two weeks of reinforcement: This is HUGE. Ten years ago, even if Saudi Arabia restored full production the within hours, prices would have spiked, and wouldn’t have come down for months. The attack itself would have sent a message of risk and worry that would jack up prices for weeks.
Now that the worst has happened, and prices haven’t gone up at all, a different message is being sent, loud and clear: Saudi Arabia just doesn’t matter that much anymore.
Man, this video just gets more and more right with time. When I uploaded this one just over two months ago, it presented three reasons why Saudi Arabia should get the heck out of Yemen as soon as possible. Today I would add at least two more. First, the war is putting the safety and security of Saudi Arabia itself in more and more jeopardy by the day. Just a few weeks ago, the Yemenis pulled off history’s most devastating attack on Saudi oil infrastructure. This attack, and the indifference of world oil markets to it, both gravely undermine the Saudis. Over this past weekend, confused reports emerged that the Saudis may be losing large battles on or distressingly close to their own territory. Whether those reports are true or not, the fact that they can be believed should be terrifying to the Saudis.
There is an out from all of this. The Houthis are aware that their complete dominance of the battle space is actually a problem for them. If they push their advantage, and make real inroads in to Saudi territory, they could prompt a US response. They have proved their independence, and remain more interested in peace than the Saudis are. The Houthis have offered to cease attacks on Saudi territory, if the Saudis will agree to do the same. This is a real opportunity. So far, the Saudis have reacted by murdering a bunch of Yemeni families from the air. They should really start pursuing peace before it’s too late.
I like this video, but it also reminds me of some missed opportunities. For over two years now I’ve been putting out this “Everybody’s Lying About Islam” series, but I think I’ve been falling down on one of the most central points I was trying to make. I am grateful to Ilhan Omar for giving me the opportunity to make that point more forcefully. Throughout the series I vaguely allude to the ways that Islamophobia serves the US government, even as the US government’s most prominent figures preach peace and tolerance.
In this video, I make the connection crystal clear, in ways that I should have done long ago. Islamophobia allows the US government to shield their Saudi partners from blame for 9-11, while also providing an endless series of countries to be lucratively bombed and destroyed. Ilhan Omar is the subject of extraordinary hate and vilification because she points out the facts of Islamophobia, and the ways it is used by our government. I adore her for it. Her outspoken presence in congress, and the fact of her presence alone, is a sign that the US public is tiring of this old Islamophobic ploy, which is inspiring a high degree of panic in Washington, DC.
It’s becoming clear, also, that Ms. Omar may be quite the fallible human being. The questions surrounding immigration fraud she may have committed remain. I looked at those allegations, and why the statute of limitations means they won’t prove to be Omar’s kryptonite the way many in the swamp hope in a tweet storm back when I published this video. It has since been fairly credibly alleged that Omar may be getting a little bit Trumpy with her personal behavior. Her supposed seduction of (by?) a married, very non-Muslim campaign consultant doesn’t fit with the “fanatical jihadist” slurs we find on right wing radio, but it could present an interesting, and very current campaign finance challenge. With growing rumors of petty illegality, campaign finance irregularities, and moral failings, Ilhan Omar sounds a lot like… a congress person. In the world before Trump, who knows, perhaps I’d be bothered by all this. In 2019, I’m not. Let whatever proceedings are appropriate proceed, but I don’t yet see anything that’s likely to derail this vitally important voice in Congress.
This video has turned out to be quite prescient. Closing in on two months ago, when it became clear that the UAE was withdrawing some troops from Yemen, I proposed three possible scenarios for what it would mean. All three are still worth considering, but it’s looking like the one I flagged as most likely is the one that’s happening. It’s a sort of Vietnam 1973 scenario. The Saudis have lost, but they won’t acknowledge it yet, and there is plenty of murder and destruction to come before it becomes obvious to everyone with a 1975 style “helicopters on rooftops” moment.
I didn’t anticipate how quickly things would fall apart, however, with Saudi and UAE proxies engaging in open warfare in the only major Yemeni city that their “coalition” has managed to take. I think the Vietnam parallel stands though. Since World War II we have been lucky enough to see very little inter-state war. Much of the suffering in the world has come in the context of civil wars. This Saudi invasion of its neighbor is only one of a handful of such examples since the 1940s. Vietnam is one of those examples, and the parallels will just get more and more obvious. As sad as this is, it is a bit heartening to see that the US failure in Vietnam wasn’t some unique failure of will, it’s just really fricking hard to invade a country in the modern context. The Saudis are doing even worse than we did, much more quickly.
The US invasion of Iraq also fits into the Vietnam structure pretty well, as I documented five years ago…
Saudi Arabia is in a terrible trap. Even the things that it thinks will help threaten its demise. As I pointed out in this video’s companion video, they want a US war with Iran because it would lead to a spike in oil prices, and more damage to competitors in Kuwait and Iraq than to themselves. But even this strategy comes with risks, whether they are caught up in the war or not.
I don’t have a ton of sympathy for the Saudi royal family, obviously, but it’s a situation worth appreciating. It’s Kafkaesque. They’ve constructed a paradise that no longer works. Every ploy they employ gets them closer to the edge. This video lays out the problem of the war with Iran, and this series lays out the broader problem.
This video connects a few concepts to the possibility of US war with Iran that should be getting more attention. It’s quite well known that Saudi Arabia dislikes Iran, and wants the US to confront that country. But we rarely dive into why that may be. A lot of time and effort is put in to the Sunni vs. Shia myth, something I’ve dismantled elsewhere. When we want to blame religion, it’s almost always politics that’s really to blame.
And when politics are screwing something up, it’s very often economics at the bottom of it as well. That’s certainly the case for the Saudis enthusiasm for US war with Iran. This video lays out how directly this is linked to the price of oil. Simply put, war with Iran could be an economic bonanza for Saudi Arabia…