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Thread: US buys more Saudi Oil

  1. #31
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    Re: US buys more Saudi Oil

    Quote Originally Posted by clownboy View Post
    The unification happened the same time as oil was first discovered (by SoCal - Standard Oil of California), 1932. That began a year long negotiation for contract, SoCal got preference and beat out the other competitors, chief among them the Iraq Petroleum Company.
    Saudi unification was largely completed by the 1920's. The final area that was taken was the Asir and Najran provinces near Yemen in 1934. The region known today as the Eastern Province which contains almost all of Saudi Arabia's hydrocarbons was conquered by 1913, with the Rashidi's finally capitulating with what was left of their territory in 1921. More than a decade before oil was even discovered in Saudi territory. Furthermore the primary point I was disputing was that oil companies facilitated Saudi unification. This is untrue and makes no sense with the chronology. Saudi finances for decades relied almost exclusively on British subsidies of 5,000 pounds a month, and pilgrimage revenues.

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    Re: US buys more Saudi Oil

    Again, the same quote from the wiki:

    On 10 January 1926 Abdul-Aziz declared himself King of the Hejaz and, then, on 27 January 1927 he took the title of King of Nejd (his previous title having been 'Sultan').[19] After the conquest of the Hejaz, the Ikhwan leaders wanted to continue the expansion of the Wahhabist realm into the British protectorates of Transjordan, Iraq and Kuwait, and began raiding those territories. Abdul-Aziz, however, refused to agree to this, recognizing the danger of a direct conflict with the British. The Ikhwan therefore revolted but were defeated in the Battle of Sabilla in 1930, where the Ikhwan leadership were massacred.[35]

    In 1932, the two kingdoms of the Hejaz and Nejd were united as the Kingdom of Saudi Arabia.[19]

  3. #33
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    Re: US buys more Saudi Oil

    Quote Originally Posted by clownboy View Post
    Again, the same quote from the wiki:
    I don't understand what your point is. As the article demonstrates, and again as I had said, the Hijaz was conquered after World War I and the Hashemite dominion was overthrown. Official unification occurred several years after the regions were conquered. Also there was no oil or gas discovered in the Hijaz which in case you were not aware refers to the West Coast of Saudi Arabia primarily around Jeddah, Mecca, and Medina. The Hail refers to the Eastern Coast of Saudi Arabia and is where oil was discovered. The Hail was conquered in 1914, with the final remnants of the Rashidi clan surrendered in the early 1920's as they gave up the pieces of southern Jemash they still retained.

    You keep going round and round the fact that the country and region was united before oil became a factor, you have made no effort to link or demonstrate how oil fueled Saudi and tribal coffers during the unification wars.

    I study and work with the Persian Gulf and specifically Saudi Arabia for a living, originally I was just trying to explain that you had confused the chronology. Oil played a role in the development of the Saudi state, not in its unification. But now I'm not sure why you are being so stubborn about it. It is an objective fact that oil revenues did not play a role in unification and came after Saudi dominion had been established over the majority of its territory minus the Asir and Najran provinces in the Yemenite wars with the Zaydi Imamate.

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    Re: US buys more Saudi Oil

    Quote Originally Posted by Sherman123 View Post
    Yeah, there is no way. The peak exporters are Saudi Arabia and Russia which can put out around 7-12 mmbd and 7-9 mmbd respectively. I think we are something like 1.8mmbd.
    The US produces around 9 million barrels a day
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    Re: US buys more Saudi Oil

    Quote Originally Posted by Lord Tammerlain View Post
    The US produces around 9 million barrels a day
    We were talking about export I thought?

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    Re: US buys more Saudi Oil

    Quote Originally Posted by Sherman123 View Post
    We were talking about export I thought?
    The US is a net importer of oil
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    Re: US buys more Saudi Oil

    Quote Originally Posted by Lord Tammerlain View Post
    The US produces around 9 million barrels a day
    Also I double checked because I thought US actual production was around 1.9 mmbd but according to the US Energy Information Agency total US output for the past two years has averaged around 2 mmbd. U.S. Field Production of Crude Oil (Thousand Barrels)

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    Re: US buys more Saudi Oil

    Quote Originally Posted by Lord Tammerlain View Post
    The US is a net importer of oil
    According to the World Bank the US exports around 1.9 mmbd https://www.cia.gov/library/publicat.../2176rank.html. This is explained by the export of NGL, petroleum byproducts, diesel, and other associated products that are counted under exports. In fact at times it has resulted on a 'net' US export: U.S. Was Net Oil-Product Exporter for First Time Since 1949 - Bloomberg. Additionally you can be a net importer of petroleum and still export, the energy market operates as a global basket and the hydrocarbon market is more complex than just net crude import/export.
    Last edited by Sherman123; 08-18-12 at 07:16 PM.

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    Re: US buys more Saudi Oil

    As you might expect, just to add, most of our exports come from refined products and fuels. I can dig up the EIA chart breaking it down if you give me a little time.

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    Re: US buys more Saudi Oil

    Quote Originally Posted by Sherman123 View Post
    Also I double checked because I thought US actual production was around 1.9 mmbd but according to the US Energy Information Agency total US output for the past two years has averaged around 2 mmbd. U.S. Field Production of Crude Oil (Thousand Barrels)
    We are both right and both wrong

    Neither of our number included all and just crude oil. Mine include crude oil equivalents,


    Crude Oil Production

    For crude oil the number is 5.9 million
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