The U.S. response to the Abqaiq-Khurais attacks needs to be resolute and fast. Global security is at stake.
Saudi Arabia is the market maker of the world’s oil supply: it pumps an impressive 9.85 million barrels a day and exports most of it. Today the United States actually produces more crude than the Kingdom, but as the world’s largest consumer it is a net importer of petroleum products, taking in. Russia pumps an average of 11 mbd and accounts for 10% of global crude exports.
US Secretary of State Mike Pompeo has accused Iran of launching a targeted drone strike on Saudi Arabia's oil facilities which wiped out half of the kingdom's crude production capacityThe repercussions of the attack are dire. Oil is the lifeblood of the Kingdom, accounting for 70% of export revenues and over half of the country’s GDP. The U.S. is a diversified industrial and post-industrial economy. Saudi Arabia, on the other hand, does not export anything but oil, ore, and some dates.
If the U.S. oil industry was attacked by rockets and drones from, say, Mexico, with the help of Russia or China, the U.S. would likely to retaliate with overwhelming force. Saudi Arabia has prosecuted a mostly unsuccessful war against the Houthi rebels since 2009, and has an imperative to stop the attacks on its lifeblood.
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