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Recent strikes on Saudi oil production are a global concern

By Scott Taylor      

Canada has no dog in this fight, but everyone on the planet will have a stake in the outcome of the latest Middle East proxy war between Saudi Arabia and Iran.

In the wake of the latest strike on Saudi oil production, U.S. Secretary of State Mike Pompeo, pictured at a press conference in Ottawa with Foreign Affairs Minister Chrystia Freeland in August, has reaffirmed the position that America is firmly backing Saudi Arabia and that all possible means of military retaliation against Iran are on the table. The Hill Times photograph by Andrew Meade

OTTAWA—On Sept. 14, there were a series of missile and drone attacks that struck Saudi Arabian oil processing facilities near the city of Abqaiq. The result of the impact by an estimated 17 warheads was to cut Saudi oil production in half, taking nearly five million barrels a day off the world market. This of course caused speculators to drive up the price of oil, and within hours this was reflected in a spike in prices at gas pumps across Canada.

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