The British Empire's "Lawrence of Arabia" made a deal with the family of Saud after WW1. While Europe carved up the Middle East, Great Britain made a deal with a ruthless warlord family that the British Empire would recognize the House of Saud as the supreme rulers of Saudi Arabia, and help them develop their oil wealth, if he would support the British Pound as the world reserve currency. Then following WW2 and later in the 1970's globalist deals were made with Saudi Arabia to prop up the US Dollar as the World Reserve Currency. The US agreed to buy all the Saudi Arabian oil, and not tap domestic oil reserves in ANWR and Bakken (National Park Act) if Saudi Arabia invested in US TBills and helped to float the enormous US Budget Deficits. Or, at least, they agreed to deposit their wealth in big globalist banks who via fractional reserve lending buy 10x the US TBills. Whenever the US was in trouble economically, Saudi Arabia responded by increasing oil supply and decreasing gasoline prices.
However, for the first time ever, Saudi Arabia has decided to cut oil production claiming that there is an oversupply of oil in the market. Heading into summer time with gas prices already at 3-4$/gal, and oil at 104$/barrel, I can only suspect gas hitting 5-6$/gal this summer. So, why has Saudi Arabia turned it's back on America during a time of critical economic crisis?
It turns out that when oil prices were up at 140$/barrel a few years ago in 2008, many Middle East countries like Saudi Arabia took out big loans which required at least 85$/barrel oil to repay. When globalist speculators then tanked the price of oil down to 40$/barrel, this left many Middle East countries in a lurch. Dubai, as you will remember, nearly went bankrupt last year. As prices have come up, investors have continued to suppress oil prices and keep them under 85$/barrel.
Then to top it all off. True or not, all the Middle East countries are convinced, CIA/MI6/Massad, are behind the recent protests and civil unrest in Egypt, Lybia, Syria, Yemen, Tunisia, Bahrain, etc, etc. Saudi Arabia had to put down its own protests last March during the so-called "Day of Rage." Together with the WikiLeaks cables, it seems clear that Saudi Arabia feels that they have been "double crossed". Consequently, they have turned on the US and have made new deals with China and Russia. The long and short of it is, that the US has just alienated our #1 source of oil. Sure, Saudi Arabia will still sell us oil, but from here on out, I don't see Saudi Arabia doing the US any more favors. Saudia Arabia seems to be wanting to make up for lost profits over the last 2 years. And, I see no reason why Saudi Arabia doesn't just begin to charge whatever they can squeeze out of the US before we go bankrupt, descend into civil war, and then are attacked and invaded by China and Russia who we have also been provoking (Belarus Bombing, South Osetia Invasion, Poland Leadership Decapitation, Russian Drought and Fire, Chechnyan Terrorism, Dollar Devaluation, etc.)