Joseph P Farrell – Saudi Arabia opens the door, Russia says nyet, but wait… is nyet really nyet when the geopolitical stakes are so high? Here’s the Sputnik article:

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Russo-Saudi Oil Agreement May Leave US Hawks Out in the Cold

Sputnik News – “What if Russia joins OPEC and changes the established Anglo-American oil cartels’ global economic order?” F. William Engdahl asks.

If Russia and OPEC countries enter an alliance, the oil producing powers of the Middle East would significantly bolster the development of the China-led new Silk Road Economic Belt project, American-German economic researcher and historian F. William Engdahl suggests.

“That project, to recall, is already well underway, and Russia and the Eurasian Economic Union states have recently agreed with China to integrate the rail route development of both. The development of huge new sea ports in Myanmar and other sites around Eurasia and the Indian Ocean will directly link the Gulf countries to that Eurasian booming new economic market and beyond,” the author notes in his article for New Eastern Outlook.

Indeed, Engdahl’s suggestion is not groundless. Citing CEO of Russia’s state-owned oil company Rosneft Igor Sechin, the economic researcher called attention to the fact that Saudi Arabia is now seeking a “formal market-share agreement with Russia.”Riyadh even went so far as to offer Moscow membership in OPEC, Engdahl emphasized, adding that the move is aimed at stabilizing world oil markets. In response, Sechin hinted that OPEC’s “golden age” in the oil market has been lost, referring to the recent sharp fall in oil prices.

According to Engdahl, Western media has already jumped to the conclusion that Sechin rejected the offer.  However, quoting international affairs analyst Alexander Mercouris, the economic researcher suggested that “Sechin’s statement… can be seen as an opening Russian negotiating position with the Saudi OPEC offer.”

Remarkably, it is the US shale oil industry which is sustaining significant damage caused by the slump in oil prices.Back in September 2014, US Secretary of State John Kerry visited Saudi King Abdullah and reportedly urged the monarch to sharply lower oil prices in order to deal a heavy blow to Russia’s economy. However, the trick has not worked: Russian oil giant Rosneft is not hurting despite the sharp drop in oil prices. In contrast, the US shale industry is teetering on the brink of collapse.  Continue reading . . .

SF Source  Joseph Farrell

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