Saudi Arabia Drone Attack Is a Strike at Oil’s Future
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Saudi Arabia said the attack affected 5.7 million barrels a day of output, or roughly half their production. The more important issue is how long any disruption lasts. It is unclear whether the strike involved drone-fired weapons or missiles or a combination of them. The Abqaiq facility’s sheer size, covering more than a square mile, makes it hard to imagine that anything but an overwhelming or extraordinarily sophisticated attack could keep it offline for long. But we just don’t know at present. That alone should add some risk premium to oil prices.
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Drones = missiles that can be leisurely guided right to a target. Or.... drones that carry missiles, like the US Predator. Man, this is almost a replay of the advent of the submarine in 1914, a small platform that is a threat to large systems. I would love to learn, how are these drones controlled? What are the weaknesses, what are the capabilities? Could a well-funded group terrorists or paramilitary group afford to make 10, 20, 100 of them and use them in a swarm attack on an aircraft carrier? Nuclear power plant? Political rally?
Wonder what Saudi's response will be? Lie back and take it or respond against Iran with force? Vote now.
I wonder of the climate change warriors will freak out now, look at all that pollution!