Saudi Energy Minister’s Threat and Blackmail Must be SLAMMED

Hossein Askari
4 min readOct 26, 2022

The United States Has to Make Credible Threats Now

On October 25, Reuters reported “Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said on Tuesday [October 25] that some countries were using their emergency stocks to manipulate markets when their purpose should be to mitigate any shortages of supply … “It is my profound duty to make clear to the world that losing (releasing) emergency stocks may be painful in the months to come,” the Saudi minister told the Future Initiative Investment (FII) conference in Riyadh.

The Saudi minister was blackmailing the U.S. with a direct threat — If you add to supplies now from your strategic reserves and later you are short and need more oil, then good luck because we won’t do a damn thing. You can freeze! It’s your problem.

It’s high time for the United States to get tough and stop pussyfooting around with Saudi Arabia.

The U.S. should immediately convey the following message in private to Mohammed bin Salman (MBS) and his brother, Abdulaziz:

“President Biden was shocked by the oil minister’s threats delivered in Riyadh on October 25th.

The United States is not the market manipulator, in fact OPEC and its leader, Saudi Arabia, are the market manipulators par excellence.”

The message should continue: “We have put you in this leadership position in OPEC, which has enabled you to manipulate oil supplies and markets. We have isolated Iran to support you and the rest of the Gulf Cooperation countries’ (GCC) national interests. Our major instrument has been economic sanctions on Iran. We have sanctioned investment in Iran’s energy sector and sanctioned the sale of Iran’s oil and gas. If we had not done this, Iran could possibly be exporting an additional 4 million barrels a day right now. And even if we lifted sanctions today Iran could immediately export an additional 1–1.5 MBD. We would have the oil we want with lower prices and Europe would by now be getting all the natural gas it desperately needs. We have been cautious and not done these to safeguard your security and protect your position in the region. We have also sold you our top-of-the-line weaponry, maintained them, trained your…

Hossein Askari

MIT engineer-economist. Prof: Tufts, UT-Austin, GW. IMF Board. Mediator Iran, Saudi Arabia, Kuwait. Writing: Econ-Finance, Oil, Sanctions, Mid-East, Islam.