September 16, 2012 • From theTrumpet.com
With Saudi oil running dry sooner than expected, Iran is sure to capitalize on the demand for oil.Saudi Minister of Petroleum and Mineral Resources Ali Ibrahim Al-Naimi
(FAYEZ NURELDINE/AFP/Getty Images)
According to a report released by Citigroup this month, Saudi Arabia may run out of oil to export within 20 years—much sooner than previously thought. This is a worrisome development, as Saudi Arabia is currently the world’s greatest net exporter of crude oil.
Making the situation worse, local consumption in Saudi Arabia is rocketing, reports Telegraph business editor Ambrose Evans-Pritchard.http://blogs.telegraph.co.uk/finance/am ... -dries-up/
With less available oil to satiate its growing national appetite, Saudi Arabia may begin protecting its own energy interests, giving other oil-producing nations like Iran and Iraq a chance to dominate the market.
Last year Saudi Arabia was the top oil exporter of the world, with Iran coming in at third.http://www.eia.gov/countries/index.cfm?topL=exp
As Saudi oil becomes harder to come by, Iranian oil will become a more favorable option. This oil crunch, along with controlling sea lanes through which the precious commodity ships, places Iran’s hands firmly on the oil spigot coming out of the Middle East.
Highlighting a prophecy found in Daniel 11:40, Trumpet editor in chief Gerald Flurry wrote in 1998, “The king of the south [Iran] will most likely use oil as a big part of his push. Europe is almost totally dependent on Middle East oil! So the push will likely involve a cutting off of their oil supply.”
There are two vital points to notice here. One: The king of the south will most likely use oil as a big part of his push. And two: Europe is almost totally dependent on Middle East oil.
Mr. Flurry continued, “Daniel 11:40‑43 is an end-time prophecy. It is about a nation that is always pushy in its foreign policy. It pushes until it starts a war. Having such power means that it must be a large oil-producing country” (emphasis added).
The fact that Saudi Arabia’s demand for oil is increasing while its own supply runs dry will only help make Iran’s oil to be in greater demand. That might be the worst news oil-dependent Europe will ever hear.
Evans-Pritchard continued, “Jeremy Leggett, the head of the UK Taskforce on Peak Oil and Energy Security, says Britain is sleepwalking into a potential disaster by failing to prepare fully for a global supply crunch.”
Britain may be sleepwalking into a disaster, but you can be sure that on the mainland countries are fully aware of the potential oil shortage and will not allow themselves to be held over a barrel by Iran.
For more information on how Iran is using oil as its stepping stone to a bigger push against Europe, read The King of the South.http://www.thetrumpet.com/literature/30 ... -the-south