The Oil Weapon Comes Into Play

Is history doomed to repeat itself? I imagine more than a few of you have been pondering this question today after hearing about Iran’s call for a complete and immediate oil embargo on Israel... [Energy and Capital Header] Practical Investment Analysis for the New Energy Economy The Oil Weapon Comes Into Play Keith Kohl | Oct 19, 2023 Is history doomed to repeat itself? I imagine more than a few of you have been pondering this question today after hearing about Iran’s call for a complete and immediate oil embargo on Israel. The veteran members of our investment community may be getting flashbacks to the 1973–1974 oil embargo during the Arab-Israeli war, when OPEC oil was first wielded as a weapon. It was considered the first true “oil shock” in history that lasted for about six months and changed the shape of global politics from there on out. The significance of the October 7, 2023, attacks by Hamas in relation to the 50th anniversary of the Yom Kippur War shouldn’t be lost on anyone. In October 1973, an Arab coalition that was led primarily by Egypt and Syria launched a surprise attack on Israel that led to intense fighting over the next few weeks, and although it was well before my time, there are some eerie similarities between that oil crisis and the chaos taking place right now. Back then, the Soviet Union was supporting the Arab coalition by supplying it with arms and munitions, not unlike the billions of dollars of financial backing that Iran has given Hamas. On the flip side, the U.S. gave full-scale support of military equipment to Israel. Yesterday morning, President Biden not only gave his full-throated support to Israel in his speech but also gave a stark warning to Iran to be careful. [TOP-SECRET GOVT Base Sets Into Motion a $15.7 Trillion Wealth Explosion]( [ssf ai boom base grayscale](To the naked eye, it might look like a horse farm, a factory, or even a large estate. But behind miles of security fence patrolled by vicious dogs is a bootcamp for billionaires. [Now one small firm is the verge of an “AI monopoly.”]( In October 1973, OPEC imposed its oil embargo on any countries that supported Israel. This not only included the United States but also Canada, Japan, the Netherlands, and the United Kingdom. So it shouldn’t be much of a shock that oil would once again be used as a weapon. Except I have to ask… Is this time different? The First Oil Weapon When the 1973 oil embargo was in place, it led to a surge in crude oil prices. The cost for a barrel of oil back then soared 300% from $3 to $12. It was a natural weapon for the Saudis to take advantage of at the time, and it put a tremendous strain on the U.S. economy. And it’s the same playbook that Iran is trying to use today. Yesterday, Iran’s minister of foreign affairs called for a complete embargo against Israel. However, things are a little different this time around. Not only does Iran not have the support for an oil embargo within OPEC but the simple truth today is that this oil weapon wouldn’t be nearly as useful. To put any power behind this strategy, it would absolutely need Saudi Arabia's support — something it currently doesn’t have. But this isn’t 1973, and there’s an even bigger reason why an oil embargo today would be impotent. Tiny Stock Has 264 Patents on Groundbreaking AI Tech A little-known AI tech is becoming critical to the operations of 94% of corporations... It’s projected to be in nine out of every 10 cars by 2028... And is already essential to the workflow of 80% of hospitals. 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In 2007, we were addicted to OPEC oil to the tune of over 6 million barrels per day; today, that number has fallen to roughly 1.4 million barrels per day. Unshackling ourselves from that dependence on the Middle East for crude oil was the biggest benefit of the shale boom. Unfortunately, that doesn’t mean we’re completely free and clear of price shocks. You see, OPEC knows that it doesn’t have to impose an oil embargo to put us in a tight spot — we’re doing that to ourselves already. It’s hard not to be bullish on oil prices right now. Demand is strong, despite what the headlines report; crude inventories are declining during a period when they should be building. Most important of all is that we’ve lost the tools we’ve had — such as our strategic reserves — to help ease prices during a price shock. And it’s opening up a huge window of opportunity elsewhere. Stay tuned. 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