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Saudi Oil May be Over

Five foreign oil workers were recently killed in Saudi Arabia, meaning terrorists may get control of the oil industry there. This is undoubtedly one of the reasons the U.S. is in Iraq. If this keeps occurring, expect to see even higher oil prices. Meanwhile, according to Whitley, we have a disaster in the Middle East.

Mark Shenk writes in Bloomberg News that the slain men were engineers working for the Swiss company ABB Ltd. Two of the victims were Americans, two were British and one was an Australian. Futures researcher Bill O'Grady says the Saudi shootings were "an inside job. This means that the Saudi industry has been infiltrated." U.S. ambassador James Oberwetter has warned Americans working in area to leave the country because their security can't be guaranteed. About 100,000 Westerners, mainly American and British, live in Saudi Arabia.

"I think a lot of American families are moving out of Saudi Arabia right now,'' says oil consultant Youssef Ibrahim. "This is the first time in Saudi Arabia that an oil facility has been targeted. And these guys worked there?This is a qualitative and quantitative change in the pattern of attacks against American interests in the Middle East. We are losing the Gulf. We have lost Iran since the Iranian revolution. We are losing our footing in Saudi Arabia.''

Oil investment expert Joshua Sadler says, "The violence in Saudi Arabia occurring near oil assets, combined with refinery glitches here, is pushing prices higher. Any possible problems with the Saudi oil industry are going to move the markets.'' The price of crude oil has risen to $38.21 a barrel, the highest since Oct. 16, 1990, when Iraqi troops occupied Kuwait.

When we read about today's terrorism, we contemplate the mystery of death. Peter Novak has written a book that shows how ancient ideas of a dual soul relate to modern scientific discoveries and the development of a healthy inner life.

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