|WORLD | BUSINESS|
|Wayne MADSEN | 20.12.2014 | 00:00|
Central Intelligence Agency director John Brennan's long familiarity with Saudi Arabia, owing to the time he spent there as the CIA station chief in Riyadh in the 1990s and his knowledge of Saudi oil operations, has paid off. Petroleum industry insiders claim that Brennan's agents inside Saudi Aramco convinced the firm's management and the Saudi Oil Ministry to begin fracking operations in order to stimulate production in Saudi Arabia's oldest oil fields. The Saudis, who are not known for their hands-on knowledge of their nation’s own oil industry, agreed to what became an oil pricing catastrophe which would not only affect Saudi Arabia but oil producing nations around the world from Russia and Venezuela to Nigeria and Indonesia.
By pumping high-pressure salt water into older wells, some at a depth of three to six thousand feet, an inordinate amount of pressure was built up. The CIA's oil industry implants knew what would occur when the fracking operations began. Due to the dangerously high water pressure, the Saudis were forced continuously pump oil until the pressure became equalized. That process is continuing. If the Saudis ceased pumping oil, they would permanently lose the wells to salt water contamination. In the current "pump it or lose it" situation, the Saudis are forced to pump at a rate that may take up to five years before they can slow down production rates to pre-glut levels.
The corporate media, including the Bloomberg and Dow Jones virtual business news monopolies, issued news reports claiming that the Saudis agreed to keep production high at the November meeting of the Organization of Petroleum Exporting Countries (OPEC) in order to retain their market share amid increased U.S. oil production from fracking.
The net result of the CIA-inspired fracking operations, which the Saudis were warned not to pursue by petroleum engineers working for some foreign-based firms like Schlumberger, is that there will be an oil supply glut for the next 5 years. The glut will be followed by a reduction in Saudi oil production unless new oil fields are brought on line. There is now a major push by U.S. and Canadian oil companies to bring online the Keystone XL pipeline from Canada to the United States to offset the expected sharp rise in oil prices in four to five years. But with Canada suffering financially from the drop in oil revenues, the Keystone XL project is also on financially shaky ground.
The CIA operation to frack Middle Eastern oil fields was not only limited to Saudi Arabia. Oil industry sources have revealed that similar fracking caused over production problems in Kuwait and Iraq.
The CIA’s sabotage of Saudi and other oil fields is not a first for the agency. In 1982, a massive and devastating explosion of the Trans-Siberian Pipeline was said to have been the work of Trojan horse software implanted by a Canadian company on behalf of the CIA. Former U.S. Air Force Secretary Thomas Reed, who served in the Ronald Reagan White House, confirmed the CIA’s role in the industrial sabotage. The CIA cooperated with the Israeli Mossad in creating the Flame computer virus that crippled Iran’s nuclear enrichment equipment. Another CIA-Mossad virus, Stuxnet, had wreaked havoc on nuclear power plants around the world.
The CIA is believed to have played a part in the crash of the Russian-made Sukhoi Superjet 100 in May 2012 in Indonesia. A Russian military intelligence spokesman said that U.S. industrial sabotage in downing the flight, which killed 45 Indonesian and Russian nationals, was considered a likely cause. The crash came after the head of the Russian space agency, Roskosmos, said he believed that it was possible that the failure of the Phobos-Grunt mission to the moons of Mars may have been caused by American sabotage.
The CIA’s use of industrial sabotage against the Cuban sugar industry, the Chilean and Zambian copper industries, and the Haitian rice industry is legendary. Explosions at oil refineries in Iran, Argentina, Mexico, Ecuador, and Venezuela, pipeline explosions in Syria and Libya, and a Brazilian Petrobras marine oil rig collapse, have been attributed to CIA proxy terrorist groups.
The result of the sudden decline in oil prices has resulted in heavy damage to the economies of the CIA-targeted countries of Russia, Iran, and Venezuela. Brennan and his economic warfare operatives absolutely banked on the Saudi over-production to harm the economies of all three countries and the CIA has not been disappointed. The CIA figures that «regime change» would bring to power pro-U.S. governments in Russia, Venezuela, and Iran.
Already, from his base in Switzerland, exiled Russian tax evader billionaire Mikhail Khodorkovsky has called for President Vladimir Putin's violent overthrow and even his assassination. Meanwhile, the U.S. Congress took its cues from the CIA and voted to impose devastating economic sanctions on both Russia and Venezuela. President Barack Obama approved the congressional sanctions. Similar congressional legislation to increase sanctions on Iran is pending.
Russia has been harmed the most by the CIA's Saudi oil production scheme. The Russian ruble fell 56 percent in value against the U.S. dollar while Russian interest rates climbed to 17 percent. The price of shares of Russia's largest lending bank, Sberbank, fell 18 percent. Although the Russian economic collapse has resulted in financial ripples around the world, with Austrian and French banks losing their stock values and the value of the Polish zloty and Hungarian forint falling against the dollar, the Obama administration says that there will be no easing on economic sanctions imposed on Russia over Ukraine. Obama has also put the individual and institutional investments of American holders of Russian bonds in dire jeopardy.
The Pacific Investment Management Company's (PEBIX) Emerging Markets Bond Fund, which holds over $800 million in Russian bonds, has lost almost 8 percent in value in the past few weeks.
Meanwhile, basic staples in Venezuela, including cooking oil, rice, and corn flour, are becoming hard to obtain. On the Venezuelan black market, the U.S. dollar has jumped 1700 percent in value against the Venezuelan bolivar. The CIA is using the financial collapse to push for an undemocratic overthrow of the Venezuelan government and CIA operatives are providing cash payments to Venezuelan opposition politicians and provocateurs.
Iran, which has been under punitive Western economic sanctions for a number of years over its nuclear power program, is probably best able to weather the storm. Iran has built up a rather impressive domestic food production, telecommunications, and oil industry infrastructure to survive the sanctions. However, Iranian President Hassan Rouhani appears very aware of the Saudi role in the conspiracy to drive down oil prices. Recently, Rouhani said of the drop in oil prices, "The main reason for [it] is political conspiracy by certain countries against the interest of the region and the Islamic world and it is only in the interest of some other countries . . . Iran and people of the region will not forget such conspiracies.»
The economic hardships imposed on oil-producing Indonesia, the world’s most populous Muslim country, has resulted in an opportunity for the Islamic State to gain adherents in the country, especially among the young and unemployed population. The economy of China, which is hoping to begin pumping oil from lucrative marine reserves in the South China Sea, is feeling the strain of lower oil prices. Mexico, wracked with social instability, has also suffered from the CIA’s machinations. However, instability in Mexico has always been advantageous for the CIA, which continues to benefit from the illegal drug trade that keeps the agency’s slush fund accounts flush with cash.
Brennan's and the CIA's industrial sabotage of the Saudi industry will continue to have far-reaching effects on the world economy. Oil industry insiders fear that the CIA has unleashed something that may deal a devastating blow to the global economy from which it will be difficult to recover.
|Tags: CIA OPEC Wall Street Russia US Venezuela|