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marketmaven

05/11/05 4:18 PM

#390589 RE: Zeev Hed #390588

Saudis Rig Oil Infrastructure to Blow if they fall?
A Saudi Doomsday Plan?

Daniel Pipes looks at a new book by investigative writer Gerald Posner, who alleges that the Saudi royal family has a “Doomsday plan:” Will the Saudis Blow Up Their Own Oil Infrastructure?

Investigative writer Gerald Posner reveals something most extraordinary in Secrets of the Kingdom: The Inside Story of the Saudi-U.S. Connection, his book to be published by Random House later this month: that the Saudi government may have rigged its oil and gas infrastructure with a self-destruct system that would keep it out of commission for decades. If true, this could undermine the world economy at any time.

Posner starts by recalling various hints that Americans dropped back in the 1970s, that the high price and limited production of oil might lead to a U.S. invasion of Saudi Arabia and a seizure of its oil fields. For example, in 1975, Secretary of State Henry Kissinger murkily threatened the Saudis with a double-negative: “I am not saying that there’s no circumstances where we would not use force” against them.

In response, Posner shows, the Saudi leadership began to think of ways to prevent such an occurrence. They could not do so the usual way, by building up their military, for that would be futile against the much stronger U.S. forces. So the monarchy – one of the most creative and underestimated political forces in modern history – set out instead to use indirection and deterrence. Rather than mount defenses of its oil installations, it did just the opposite, inserting a clandestine network of explosives designed to render the vast oil and gas infrastructure inoperable – and not just temporarily but for a long period.

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MyHunch

05/11/05 4:34 PM

#390594 RE: Zeev Hed #390588

Hopefully, cover in the 15.75-15.85 area, sometime tomorrw, if not the day after(g)!! What are your plans??