September 4, 2013
On the stock market, oil has had recent and severe ups and downs which correlates with the threat of a military strike from the US. The price of oil has become the focus of investors as it has also become the preferred hard asset of choice.
John Kilduff, partner at Again Capital LLC, a hedge fund that deals primarily with energy commodities, said : “The market is processing what appears to be a slow grind to military action against Syria. There’s headline risk ahead of us. The reaction to the Israeli missile test is an example of what we will be seeing until the Syria situation is resolved.”
Syrian oil production is estimated at 401,000 barrels a day as of 2010.
Sanctions placed on Syria by the US and European Union (EU) have slowed the security of oil as a major source of trade for Syria.
Because of the proximity of Syria to sea routes that transport most of the world’s crude oil, the Suez Canal in the Mediterranean Sea has proved to be a much sought after area of control.
UN General-Secretary Ban Ki-moon said that President Obama’s plan to use military action against Syria is only legal by international standards if Syria poses a viable threat to the US.
Ban said: “The use of force is lawful only when in exercise of self-defense in accordance with Article 51 of the United Nations charter and/or when the Security Council approves of such action. That is a firm principle of the United Nations.”
With respect to the future use of chemical weapons, Ban said: “I take note of the argument for action to prevent future uses of chemical weapons. At the same time, we must consider the impact of any punitive measure on efforts to prevent further bloodshed and facilitate a political resolution of the conflict.”
Obama demanded that Congress back him in punishing Syrian President Bashar al-Assad for the alleged use of sarin nerve gas on Syrian civilians which killed 1,400; including women and children.
House Speaker John Boehner said he is in support of Obama’s scheme to strike Syria and asserted that his fellow Republicans should as well.
Boehner said: “This is something that the United States as a country needs to do.”
Senator Eric Cantor also stands beside Obama in support for military action.
In any event, Obama can order a limited strike without Congressional approval.
Facts surrounding the sarin gas are being ignored for the sake of beating the drums of war.
Sarin gas was used by the Free Syrian Army (FSA), according to Carla del Ponte, a member of the UN Independent International Commission of Inquiry (IICI) on Syria.
Ponte said that “her panel had not yet seen any evidence of Syrian government forces using chemical weapons, but that more investigation was needed.”
Donald Rumsfeld, future Defense Secretary under the George W. Bush administration, was sent by the Reagan administration to Saddam Hussein wherein a deal to sell sarin gas was made.
With the help of Rumsfeld, sarin was used in Iraq and killed nearly 5,000 in the Kurd city of Halabja.
Later, those same stockpiles sold to Saddam by Rumsfeld became the controversy and the weapons of mass destruction that led to the war, capture and execution of Saddam.
Some of those stockpiles mysteriously made their way to Libya and came under the control of Muammar Gaddafi.
Last May, The Obama administration has sent covert agents to deliver weapons purchased “from the stockpiles of Libya’s former dictator Muammar Gaddafi” to the Salafi extremists known as the Free Syrian Army (FSA).
The UK government claims that they allowed a British-based corporation to sell sarin gas to Syria. Although permits for commerce were revoked last July, the UK Department for Business, Innovation and Skills (DBIS) stated that they granted an unnamed chemical company the right to sell substances that could be mixed to produce sarin gas to Syria.
The Syrian National Council (SNC) claims that Assad plans to use chemical weapons again; based on intelligence provided by an anonymous source in Turkey.
Israel and the US have performed joint missile testing in anticipation of Congressional approval for war.
Testing of the Arrow 3 missile-defense system was performed by the Israeli Defense Ministry (IDM) and the Department of Defense (DoD).