T. BOONE PICKENS- THE UNITED STATES SHOULD STOP PURCHASING MID EAST OIL!!!!!

T. Boone Pickens build a case for the United States to stop purchasing oil from our enemys in the mid-east.

https://www.facebook.com/Pickensplan/?fref=nf

It is hard to understand why the political climate does not understand the power of the United States

that now has the ability to produce our own energy needs.  Stopping fracking when our national debt is about to bury this country is tanamount to political suicide and cutting our own national throat.  

Something is so wrong with this picture that the only conclusion I can come to is that someone is being paid lots of money to make sure that this country does not understand the power of our own resource.

This is so amazing that it defies belief - this country is going broke- we pay huge amounts of money to purchase energy from our own enemies that we do not need to purchase.....!!!  We could change the whole balance of power and the administration and political hacks want to ban fracking?????

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Permalink Reply by Thomas Malcolm Pendergast on April 14, 2016 at 11:57am

Hi Jim!

When I worked at Morgan Stanley in Columbus, there was a lady there from the mideast that always wore a hajib and head covering.  I remember on the day I learned of the Green Uprising in Iran, and I raised my arms with a heartfelt Allahu Akbar!  Man, what a lost opportunity.

I lived in Tabriz one winter (coldest place I ever lived with really heavy snow) but the people there were wonderful.  That was before the fall of the Shah.  I'm sure the people are the same but the government is full of extremists.  There is hope.  The Iranian expats I've known in Japan and America, integrated well with society and don't live in enclaves.  Lots of really talented people.

The new Iranian Petroleum Contract models now circulating are a huge improvement over pre-sanctions contracts.  This is a work in progress but it's clear that "conservative" views led by Rafsanjhani are prevailing.  And here is the best part and you read it here first!

Oil and gas infrastructure in Iran has been neglected for at least 10 years.  As hard to believe as it is but even though Iran is reputed to have the 4th largest gas reserves in the world, it currently has to import natural gas.  I'm not sure but I think the sources are primarily from Azerbaijan and Turkmenistan.  And financing, including insurance, from conventional or traditional sources is practically non-existent.

The Pars gas field, mostly offshore Qatar, but a large share also belongs to Iran.  That field is right on Saudi Arabia's doorstep.

Saudi Arabia has virtually no natural gas reserves.  It needs nat gas for generating electricity, especially in the summer for air conditioning.  To keep up with demand, peak power is provided by burning crude which they'd prefer to export (higher returns, fewer emissions).

Saudi Arabia has excellent financial institutions, world-class really.  And, they can easily be Sharia-compliant-- a nice feature when you're dealing with Iranians.  Saudi's reserves are substantial:  $650 billion in foreign reserves plus several sovereign wealth funds and state pension funds.

Finally, Saudi Arabia has a world-class cadre of technocrats, best exemplified by my hero Ali Al Naimi.

Given all of the above, all we need is a short 60-mile gas pipeline to make landfall in Saudi Arabia from Iran.

These are perfect conditions for productive talks that can go far in tamping down bad relations and working toward practical solutions that benefit both parties.  Iran rebuilds its oil and gas infrastructure with the help of some of the finest oil and gas engineering talent you'll find anywhere in the world (the Iranians are no slouches, investments have just been holding them back.  I'd love to be a Saudi petroleum engineer working with Iranian engineers - - - they will be the most eager trainees you're likely to find anywhere in the world under any circumstances).

Saudi Arabia has been a model of stability in the mideast.  It is in the G20.  It has a vested interest in protecting its prosperity and promoting regional stability and prosperity.

I recommend re-reading Jean-Francois' article for changes that are taking place in the Royal Diwan (like the Privy Purse).  I think you'll see that the leading, most influential members of the royal family are open to change.  Keep in mind too that theirs is a very young country while Iran's civilization goes back almost 3,000 years!

Permalink Reply by Joseph-Ohio on April 14, 2016 at 11:11am

Lance,

Why should we care about what life is like living under the Mullahs thumb ?

I and mine don't really give a hoot about that.

Only those who are heavily invested there care.

I and mine are not.

If our allies there want our help we'll help per our agreements.

I think we have enough to worry about here in the West.

I think the only reason we're involved to the degree that we are is for the sake of the 1%ers and their investments.

If they want to invest heavily in the ME maybe they should re-patriate and live there too instead of throwing our country's freedoms and economy under their bus.

Based on what I've seen, heard, read here on these pages and elsewhere we don't need their oil and / or their Natural Gas as we have plenty of our own to the point of trying to sell some of it !

None of it adds up unless you're making money on it.

That's the way I see it anyway.

JMHO's (and perspectives)

Permalink Reply by Joseph-Ohio on April 14, 2016 at 12:48pm

Another set of those that gain are the hostiles that are funded by ME trading partners only masquerading as Western business partners.

How can anyone in our country miss that connection ? ?

It's okay to lie / cheat / take to market / even kill infidels remember.

We (our country and countrymen) need to be smarter to come out of this mess as winners if you ask me.

My most humble opinions.

Permalink Reply by Thomas Malcolm Pendergast on April 14, 2016 at 1:47pm

I just learned this about the Saudi Public Investment Fund (PIF):  originally envisioned to be set up in 2018; may be moved up to 2017.

Original funding for the PIF will likely come from an IPO of just 5% of Aramco which is expected to be roughly $2,000,000,000,000.

The fund is expected to acquire a wide variety of blue-chip Saudi firms such as the Al Marai Dairy (the largest integrated dairy in the world with 7 farms each with 20,000 head of milking cows), SABIC, the 2nd largest petrochemical firm in the world, the Bin Laden Group and the Al Rashid Trading and Contracting Co.  Prominent domestic wholesalers, retailers, banks and insurance firms can be expected to form prominent tranches in the PIF portfolio.  Beyond Saudi Arabia, the fund is likely to be attracted to foreign firms that have played a prominent role in the development of the economy over the past 75 years.  That would include such firms as Foster-Wheeler, Fluor Daniel, AirLiquide, Bechtel, Chicago Bridge and Iron, 3M, Asea-Brown-Boveri, Honeywell, Pfizer, P&G, Ingersoll-Rand, Boeing, Halliburton, Baker Hughes, and, of course all major U.S. integrated oil firms with which the Saudi government has always enjoyed especially amicable relations.  Undoubtedly, there will be some who see such connections as mideast-funded trading partners masquerading as Western business partners.  However, such entities have not been involved in building Potemkin villages such as the "ghost cities" constructed by state-owned firms in China, completely lacking in any international exposure. 

Actually I don't recall any instances of American employees of firms such as I mentioned above being lied to, cheated, taken to market or even executed because they were regarded as infidels.  Recently, however, I read of an expat in Saudi Arabia who was arrested for making home-brewed alcohol.  In Arabia, I believe it is common knowledge that you don't drink alcohol, eat pork or proseletize.  What's so difficult about that?

Permalink Reply by Joseph-Ohio on April 14, 2016 at 2:46pm

Good for them - they IMO are the lucky ones.

However, I'm guessing there are alot more people than they who are / were super adversely affected by chasing ME oil / profits.

Consider only the wars / nine-eleven to date.

Let's weigh the good against the bad.

More good or more bad.

Our economy - stagnant or burgeoning ?

I think stagnant myself.

Is that good or bad ?

I say bad - very bad overall.

Obviously we disagree - and that's alright with me.

JMHOs

Permalink Reply by Thomas Malcolm Pendergast on April 15, 2016 at 8:25am

Dear Joseph-Ohio,

I'd like to reply to your last post line by line:

Good for them - they IMO are the lucky ones.

I don't think it's luck.  The people that work in the companies that I mentioned in my last post, whether they are Saudis, Americans or any other nationality are dedicated professionals (engineers for the most part).  They studied in school to prepare for careers in companies like Honeywell, Halliburton, Foster-Wheeler, Bechtel and so on.  Over the past 35 years, those companies and their employees have made a lot of progress.  It is not luck that made them successful:  it's dedication and determination to persevere against any obstacles that came their way.  It's guts and drive, not luck.

However, I'm guessing there are alot more people than they who are / were super adversely affected by chasing ME oil / profits.

How can you say that?  There are at least 700 American companies, large and small, operating successfully in Saudi Arabia.  75 years ago when American companies first arrived in that nomadic, impoverished country, there were huge barriers to success.  But succeed they did.  Today, it is 200% easier for a foreign firm to set up business than it was 75 years ago.  They're not "chasing ME oil / profits"; they're building strong businesses.  Again, that takes guts and drive.  They love what they do.  It's not solely about money.  If that's all it were, I guarantee you, they'd fail.

Consider only the wars / nine-eleven to date.

Focus on the negative.  That's easy.  It's a lot harder to find anything positive.  I know from personal experience.  I've worked on projects that have had failure after failure after failure.  But after each failure, there is learning and improvement, until you reach the satisfaction of building a world-class product.  Again, that's not luck.  It's guts and drive.

Let's weigh the good against the bad.

75 years ago Saudi Arabia was a society of nomadic Bedouins living in tents heated by dried camel dung, no running water, no electricity and a population of 3,000,000.  Today it's 30,000,000 of which 9,000,000 are foreigners.  75 years ago, nobody considered them a threat.  Let's guesstimate that 15,000,000 Saudis are of working age and all 9,000,000 of the foreigners are of working age.  15 of the 19 9/11 hijackers that killed 3,000 people (Americans and foreigners) were Saudis.  So, 14,999,985 working age Saudis minus say 1,000 or 2,000 criminals who don't discriminate between native and foreigner.  Do you honestly think that the majority of Saudis are bad?

More good or more bad.

Our economy - stagnant or burgeoning ?

Ohio overall, not so good, not so bad.  But I don't care about Toledo, Columbus, Dayton and Cincinnati.  Let's just think about eastern Ohio from Mentor in the north to Marietta in the south.  Pretty darn good I'd say.  Compare the condition of Warren/Canton/Masillon/Akron of 2000 to today.  Look at all the new industries and expanded, reinvigorated industries there and the new infrastructure and housing to support it.  Travel through Carroll county today, all the county and township roads are freshly paved and you'll pass by many a new school building.  Where'd all the money come from to pay for that?

I think stagnant myself.

Is that good or bad ?

I say bad - very bad overall.

Obviously we disagree - and that's alright with me.

Permalink Reply by Joseph-Ohio on April 15, 2016 at 11:29am

We disagree.

That has not changed and won't.

Call it my fault that we do - I do not care.

Over and out TMP.

J-O

Permalink Reply by Thomas Malcolm Pendergast on April 15, 2016 at 12:09pm

Hi Joseph-Ohio!  I have been posting a lot of comments for this discussion in a very large part because of you.  You have said that you like to use Go Marcellus Shale to learn as much as you can.  I don't see any indication that you have learned much at all.  I suggested that you make use of EIA, IEA, NETL, Bricker and Eckler websites but it's not apparent to me that you've picked up much of anything or if you have, it's pretty much all rejection.

That's not humble opinion; it's rigid arrogance.  I'm very disappointed. 

Permalink Reply by Joseph-Ohio on April 15, 2016 at 12:46pm

I've learned enough about you to realize we see things from basically polar opposite positions and that's how it will remain.

Didn't you learn that too ? But, maybe not afterall ? If not you are the one who has not learned the most important lesson of our exchange.

Argument between polar opposite perspectves does nothing to educate beyond amplifying differences.

I'm smart enough to realize discussions with you serve no other purpose and teach either of us nothing new.

So have a good day dude - time to let it go.

These are of course on!y MHOs and perspectives.

Permalink Reply by Jim Litwinowicz on April 18, 2016 at 8:07am

You were warned........

Permalink Reply by Joseph-Ohio on April 19, 2016 at 2:28am

Wonder what those 28 pages would tell us about SA and 911 ? ?

Administration seems worried about sharing the facts based on what we're all reading / seeing / hearing said in the news.

How deeply is the 'Kingdom' involved in 911 I wonder ? ?

Plenty besides me and mine would like to know.

We need to be done with them IMHO.

Not thinking they're that friendly myself.

Good luck to all of us.

Permalink Reply by Joseph-Ohio on April 19, 2016 at 4:02pm

Hasn't it been said, that once the problem is identified, those who wish to solve it are half way there ? ?

Or something like that ? ?

Guess we'll have to wait and see.......

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