Bush, Saudis Clash Over Oil Prices

Saudi Oil Minister Rebuffs President's Plea To OPEC Giant For Oil Production Increase

(CBS/AP)  President Bush urged OPEC nations on Tuesday to put more oil on the world market and warned that soaring prices could cause an economic slowdown in the United States.

"High energy prices can damage consuming economies," the president told a small group of reporters traveling with him in the Mideast.

"It's affected our families. Paying more for gasoline hurts some of the American families, and I'll make that clear to him," said Mr. Bush, heading into more talks with Saudi King Abdullah. Shortly after Mr. Bush spoke, the Saudi oil minister said the kingdom, responsible for almost one-third of the cartel's total output, would raise oil production when the market justified it.

"Our interest is to keep oil supplies matching demand with minimum volatility in the oil market," Oil Minister Ali Naimi told reporters. "We will raise production when the market justifies it. This is our policy."

Naimi said inventory levels appear to be "normal," adding, "we want the inventories to be healthful, but we don't want it to be extremely high or extremely low."

Naimi said the U.S. economy is significant to the oil market and demand. "I'm sure no one will look with pleasure on a recession in the U.S. On the contrary, all our effort is to maintain prosperity and growth in all countries, particularly the number one consuming nation in the world," he said.

But the minister said oil is not the only reason for the slowing U.S. economy. "The concern for the U.S. economy is valid, but what affects the U.S. economy is more than the supply of oil," he said.

In a stern warning to Iran days after a Jan. 6 confrontation with U.S. warships in the Persian Gulf, Mr. Bush put Tehran on notice that it needs to be careful. The president said it would not matter to him whether an attack against an American vessel resulted from an order by the government in Iran or a rash decision by an Iranian boat captain.

"It's not going to matter to me one way or another," Mr. Bush said. If the Iranians hit a U.S. ship, "there are going to be serious consequences," he said.

U.S. officials claim Iranian speedboats swarmed three Navy warships in the Strait of Hormuz, the narrow waterway that is the only entry and exit to the Persian Gulf. They said U.S. Navy commanders were considering firing warning shots, before the retreat of the five Iranian speedboats, which the Pentagon said were operated by the elite Revolutionary Guards.

Iran has denied that its boats threatened the U.S. vessels, saying the incident was a normal occurrence, and accused Washington of fabricating video and audio it released. Iran's government has released its own video, which appeared to be shot from a small boat bobbing at least 100 yards from the American warships.

The president spoke to reporters before meeting late Tuesday with Abdullah, whose country holds the world's largest supply of oil. Mr. Bush said U.S. consumers are feeling the pain of rising oil prices, which topped $100 a barrel this month.

"When consumers have less purchasing power, it could cause the economy to slow down," Mr. Bush said. "I hope OPEC nations put more supply on the market," he added. "It would be helpful."

The Organization of Petroleum Exporting Countries next meets Feb. 1 in Vienna, Austria, to consider increasing output. OPEC oil accounts for about 40 percent of the world's needs, and OPEC ministers often follow the lead of the Saudis when discussing whether to increase production to take the pressure off rising prices. The Saudis' views carry great weight because of its large share of output.

At the same time, he acknowledged that the higher prices reflect supply and demand, and that there is little excess capacity in the marketplace. Mr. Bush said a growing demand for oil, especially from fast-growing India and China, is straining supply and lifting prices.

"Oil is commodity," he said. "It isn't something that you just turn on a tap. It requires investment, exploration, a lot of capital."

"A lot of these oil producing countries are full out" in terms of what they can produce, he said.

Asked whether he thought the U.S. economy was sliding toward recession, as some economists predict, Mr. Bush said, "These are times of economic uncertainty, but I have confidence in the future." He said the underpinnings of the economy were strong, and "I'm optimistic."

His administration and Congress are looking at ways to give the economy a boost. Options include tax cuts, tax rebates and other incentives. Asked what steps he believed were necessary, Mr. Bush said: "We're going to watch very carefully."

The pressure over oil prices came a day after President Bush delivered a sophisticated weapons sale for Saudi Arabia, trying to bolster defenses against threats from Iran and muster support in the oil-rich kingdom for a long-stalled Mideast peace agreement.

Meanwhile, Secretary of State Condoleezza Rice, traveling with Mr. Bush in the Mideast, slipped away from the Saudi capital at 6:40 a.m. Tuesday for a quick trip to Iraq. Mr. Bush said he had been encouraged by signs of progress in Baghdad and decided that she could "help push the momentum by her very presence."

Mr. Bush said he would not go to Iraq while traveling in the region. There had been widespread speculation he would make a visit.

One of the primary objectives of trip is to build support for the Israeli-Palestinian peace process. He said that Abdullah asked him why he was optimistic about securing an agreement before his White House term ends in January 2009.

"Part of my mission was to make clear why talks failed in the past. There wasn't participation by the neighbors," Mr. Bush said, referring to Arab countries that have kept an arm's length from the negotiations.

Mr. Bush said he was convinced that the Arab leaders want to see the creation of a Palestinian state in a peace agreement with Israel. "They definitely want it to happen," he said, "and they questioned the seriousness of the United States to remain involved in what has been a long and frustrating process."

"They want to see a deal done," he said. "The issue frustrates them."

Mr. Bush spoke to the group of reporters while sitting in a chair under a gold and crystal chandelier in an ornate room of the kingdom's guest palace. Mr. Bush said he has faced persistent questions during his trip about a new U.S. intelligence estimate that said Iran had abandoned its nuclear weapons program in 2003. That conclusion contradicted Mr. Bush's claim that Iran was pursuing nuclear weapons and raised questions in the Mideast about U.S. intentions toward Iran.

Earlier, Mr. Bush spoke before meeting with Saudi business owners, many of them young and educated in the United States. He then visited al-Murabba Palace and The National Museum, stopping in a gallery describing the Prophet Muhammad's life.

Afterward, he was traveling to Al Janadriyah Farm, the king's country retreat where he maintains 150 Arabian stallions. That trip repays the two visits that the king, while crown prince, made to Bush's ranch in Crawford, Texas, in 2002 and 2005.

[Con Mohrat]

Like good capitalists, oil producers also should be able to get market prices. As President Vladimir Vladimirovich said if he wanted to buy a new Chrysler and said he wants it at half market price because he is a friend, the salesman would tell him to go away. End of story.

[watcher269-2009]

"It''s tough on our economy," Mr. Bush said before he began a roundtable with Saudi business people.

-------------------

Bushit takes his concerns to the Saudis about the high Oil prices - 5 years after the prices increased.

This shows a "REAL" concern. Doesn''t it?

Then in the next sentence - he asks for the Saudis to invest more money in his Daddy''s businesses.

[mrconservatv]

We should all be worried; where is CHENEY?

[brianbwb-2009]

"I would hope that as OPEC considers (its response to higher prices) that they understand when their biggest consumer''s economy suffers, it means less purchases, less oil and gas sold."

And their response? "So what, we will sell today, or tomorrow, doesn''t matter to us, we are rich enough to wait. And don''t forget, we can sell to China all that you don''t want."

Bush; "I was just kidding, actually if we can start a war with Iraq, and bump it up to $150 to $200, We will all make out like bandits..."

Opec; "We only sell oil, you are the bandit..."

[ontheleft]

"It''s tough on our economy," Mr. Bush said

No kidding. It''s also one of the factors that drove us into the recession we''re now in.

[juwboy]

Why haven''t there ever been any attempts to break the OPEC cartel?

Normally, commodity-importing countries would put pressure on a vulnerable cartel member with a shaky economy by offering to buy all, or the bulk, of their entire annual output at a price below the cartel''s set price. In the present situation, Nigeria would be a candidate.

Why hasn''t this happened?

[smirk5]

I''m sure rattling the saber at Iran sure helps the price of oil.

[juwboy]

Jerry O''Mara, the Nigerians certainly aren''t as drunk as you are, as evidenced by your reply to me in the "Missouri Mayor ... " Comment string.

Lay off the Bushmills for once in your life, my little leprechaun.

[piercetheval]

Grab a six-pack, go sit in your Hummer with the DVD player, pop in a copy of "Vanishing Point" and live it up one last time. The next vanishing point is where gasoline finally vanishes as a commodity. Turn your SUVs into chicken coups and start producing methane. The party''s over. Go Green!

[g-gfather]

When the commodity that is being sold is not widely held and is running out, the price is not, lowered. WHAT A DISGRACE TO HAVE THIS TREASOUS *** BUSH, PROSITUTING AMERICA BEFORE THE KING OF UNCARING AND BUSHES OPEC BED PARTNERS. YES TOUGH ON AMERICA, BUT A BOON TO BUSH AND ACCOMPLICES OF WAR STREETS NEW WORLD ORDER. GETS SOME GUTS AND INTREGRITY AMERICA, READ AND INVOKE THE DECLARATION OF INDEPENDENCE...Great-grandfather.

[piercetheval]

Ever since the Federal Reserve Bank [Read: European Banking Cartel] has been in place, we the American People [whom came to this continent to escape the opression, religious, political and economic, of Europe], have been hog-tied and swindled and they''re trying to beat us back into submission. It''s time to take this country back before it''s lost for good [or worse].

[mcvet]

I have but one question... Did Bush hold hands with them this time. I mean when you are getting screwed like we are it would be nice if Sir Lies-A-Lot was getting his hand held.

[brianbwb-2009]

"Lay off the Bushmills for once in your life, my little leprechaun."
Posted by juwboy

He might be drunk, but he is right, dude. Ask yourself if some one is buying something you have at $100, and some one comes to you and asks to buy it for 50$, what would your answer be? Especially as it is not in your interest to buck the price trend, as the current price is already very good for you?

[brianbwb-2009]

"I have but one question... Did Bush hold hands with them this time. I mean when you are getting screwed like we are it would be nice if Sir Lies-A-Lot was getting his hand held."
Posted by MCVet

No, but they bought him a drink, and gave him a couple of lines of good Peruvian flake...

[samsel3]

Reuters uk-business: January 14, 2008 reported that US/Iran tensions over it''s nuclear programs may cause Iran to retaliate by cutting oil production. This will cause the price of oil to go even higher. More profits for BIG OIL.

[samsel3]

If Bush gets his Saudi friends to increase production he will not worry about the squeeze he is putting on Iran. Prices will remain close to the same BIG PROFITS won''t go away.

[pepperwood2]

The Inconvenient Truth!

The jet stream will collapse into the Southeastern
United States by this weekend and will allow Arctic air to spread from the northern Plains into the Northeastern states.

Follow along now! Expect an increase in Oil Prices. Cold weather to invade the Citrus Belt. North Pole is Melting Down. Possible Volcano in Ecuador. Snow in Baghdad. Earthquakes in the Pacific. Flooding in India. GB to Visit Saudia Arabia. ETC.

The News Media & Oil Companies are never without a story in how this effects Our Rising prices of Oil.

Here in the Northeast we''re still waiting for the Reverend Jackson to appear with affordable heating oil that he got in a deal with Chavez a couple of years ago.

Fool you once shame on me. Fool you twice - just get used to it.

CACKLE CACKLE CACKLE goes the Clinton entourage.

[samsel3]

Russia is the second largest supplier of oil on the planet, the Saudis are number one. After Saddam was removed they lost one of there sources and moved to Iran to fill the void. In exchange they also negotiated contracts to build multiple nuclear power plants in Iran. Russia is well aware of the Cheney plan for the Casapian Sea pipeline which will be cheaper to build if the US goes through Iran. Iran does not want to negotiate with the US on this pipeline. Cheney wants regime change, but Russia does not because it''s not in there economic interest. Thats the real deal !
Russia reneged on contracts with BP oil UK for new Siberian wells and also renegotiated contracts for existing BP production wells in Russia for less money. BP was not happy and teamed up with US oil interests for the Caspian Pipeline deal now under construction.

[piercetheval]

...GO GREEN!!!

[piercetheval]

Might I suggest "Rare Breed" by Wild Turkey. 108.2 proof. It don''t run the car too well but it sure makes the trip a lot less bumpy. And besides the destination probably wasn''t worth the trip anyhow. PS Booker Noe [124 proof] ain''t too bad either but you wouldn''t care for the chaser. It comes in a black and white sidecar.

[underdogus]

...GO GREEN!!!
Posted by piercetheva...go green? you mean go gringos? yeah we are going alright... to WAR!!!

[brianbwb-2009]

"If the Nigerians sold oil to us at $80 per barrel and we agreed to buy twice as much from them as we''''re buying now, the Nigerians would be better off.
Do the math, my affirmative action imbecile!" Posted by juwboy

The math says that they don''t need for us to buy twice the amount, they will sell it anyway at market prices, and be even better off

"[You lost all right to be treated with respect when you wrote that the Jews were responsible for Hitler''''s rise to power, you anti-Semitic racist bigot]" Posted by juwboy

Somehow, going by the remark "my affirmative action imbecile!" I don''t think I''ll be missing any of your respect, as you seem the type who doesn''t "give credit to the schvartzers" anyway.

[neobrian-2009]

Professor W says ~" This high priced oil is hurting our economy"
Really? No kidding W ! They Know This,..That`s their point! Who Loves it ? King W and his oil pals. That`s who!! Never in the land did I think such a " Corrupt,Criminal " would ever occupy the white house.
Unelected,a moron,his greatest success is taking place right now.Shrub is totally uniting the voters of the USA.This next election Will without a doubt eradicate the Evil Roots of the destructive GOP machine. Without W to oil the spokes,this monster will perish.Up in flames,a black cloud will carry ''The Culture Club of Corruption ''to it`s final death.
After that,it`ll take years to clean our air of the stench left over from The Kings` reign.

[poor-slob1]

It seem to methat if you have two oil men in the two top seats in the country, that they should be able to get somewhere with their resources besides if they really wanted to help the american economy they would have frozen gas prices when it was around 2.25 gal., who is really benefitting from this, definitly not the american people.

[brianbwb-2009]

Posted by piercetheval

I recommend "everclear, no carbon buildup from burnt sugar...

[brianbwb-2009]

Posted by gkc99

Not to mention, that since the fake radio threat was exposed, they will resort to the tried and true 9/11 hijacking event.

[allunknowing]

"Mr. Bush is unpopular among ordinary Saudis as he is across much of the Mideast, ..." most of America, and the rest of the world.

And their "previous unnanounced" trip to Bagdad, so much for anonymity and being secretive. Who wrote this story, Geraldo?

[johnny343sc]

THIS MIGHT WORK IN THE SHORT RUN, MR. BUSH, BUT THE LONG-TERM SOLUTION IS TO GET AWAY FROM OIL COMPLETELY AS MUCH AS POSSIBLE.

;)

[poor-slob1]

we are becoming a race driven country again, if you really get down to it the real american people are now the largest minority, and are not being treated as well as the imflux of immigrants are being treated as they should. and they really dont get the respect they should either. I belong to this great minority and am proud of it. I dont use slang terms to identify people. the real american people are the american indian peoples and should be recognized as such. lets put an american indian in office and see if his or her respect for the motherearth runs this country better as it should be run.

[samsel3]

We can all talk about the past, but what about now and the future ? Presently the CNP Council for National Policy is planning your future. This secretive organisation founded by Hunt of Big Texan Oil with a membership of several hundred of the richest men in the USA put Bush & Cheney in office to accomplish their global capitalist agenda. In September 2007 they met again in Salt Lake City. Cheney & Mitt Romney were keynote speakers. Romney wants their backing. The CNP hasn''t decided who they will back, to continue their agenda in global market control for BIG OIL & allied industry in the next election. National media outlets are owned by their members. Who will expose them? Who will stop their insanity and destruction of constitutional freedom ? Who will stop their misuse of the military to promote their global agenda ?

[omega39-2009]

Follow along now! Expect an increase in Oil Prices. Cold weather to invade the Citrus Belt. North Pole is Melting Down. Possible Volcano in Ecuador. Snow in Baghdad. Earthquakes in the Pacific. Flooding in India. GB to Visit Saudia Arabia. ETC.

The News Media & Oil Companies are never without a story in how this effects Our Rising prices of Oil.

Here in the Northeast we''''re still waiting for the Reverend Jackson to appear with affordable heating oil that he got in a deal with Chavez a couple of years ago.

Fool you once shame on me. Fool you twice - just get used to it.

CACKLE CACKLE CACKLE goes the Clinton entourage.

Posted by pepperwood2


Well considering in the late 90''s OPEC couldn''t even maintain a floor of $25/bbl of oil, there really is only one explanation, Dubbyas foreign policy or lack of to be more precise.

[poor-slob1]

as far as bush getting together with saudi oil king, it is a good disguise for a talk of two buisness men on how to make more money for there already oil rich families, (good cover story) anyway.

[samsel3]

Well considering in the late 90''s OPEC couldn''t even maintain a floor of $25/bbl of oil, there really is only one explanation, Dubbyas foreign policy or lack of to be more precise.

Posted by omega39 at 08:43 AM : Jan 15, 2008......Actually, taking out Saddam helped BIG OIL drive the prices up. A few months before the invasion, gasoline was 89 cents a gallon. Iraq''s oil infrastructure was rebuilt when Cheney controlled Haliburton. Halliburton/Iraq deal was done through the French because it was illegal for US companies to deal with Iraq, except for the oil for food program which US oil companies participated in. Saddam was charging US interests more for oil then other countries and cutting off supplies at times so they took him out.

[simonsez40]

Bush all cozy spending some R & R time with his close friends and business partners - kicked back on their huge horse ranch. Talking about all the money they are making hand over fist - patting them on their backs for a job well done. First sending all the Saudi''s over to hit the Twin Towers and now the US is sitting pretty in Iraq - and Bush''s family is reaping the benefits.

Welcome Home George the King says hugging his bestest bud in the world.

[nothappyatall]

""I would hope that as OPEC considers (its response to higher prices) that they understand when their biggest consumer''s economy suffers, it means less purchases, less oil and gas sold." "

LOL!!!!!!!!!!!! he goes crawling to OPEC about a situation HE created by invading Iraq and destabilizing the region, and then forgetting that CHINA now is a growing power whose economy is BOOMING big time and they don''t mind the higher prices and are willing to pay more to get the oil.

[radiob-2009]

Posted by newster1 at 08:55 AM

Yes growing with all of outsourced jobs, hmmm that we gave tax incentives to the corporations for that Bush wants to make permanent.

[liberalme]

The ARMS FOR OIL mission--what a legacy, just when I think he''s hit his limit on stupidity--he one ups himself!

[samsel3]

The Towers were hit by OBL because the US was trying to get rid of the Taliban for the Caspian Sea Pipeline. More than a year and half before 911 the CIA Special Activities Division was conducting operations in Afghanistan, trying to topple the Taliban regime ..........We now call such activities terror

[samsel3]

Nothing has changed on Iran. The administrations interest in Iran & nukes is a smoke screen for their real agenda. Their true interests are Cheney''s energy policy.Condi Rice is a former board member of Chevron Oil and mouthpiece for the administrations energy policy. Part of that policy is the The Caspian Sea pipeline which will go through Turkmenistan, Afghanistan,Pakistan, to the gulf of Oman and on to India & Nepal.It will be cheaper to construct if they can go through Iran, but regime change is necessary first. The Caspian sea area holds one third of the world''s oil and south asian oil markets are their target market. This pipeline was also the reason for the Afghanistan invasion. Cheney''s energy policy is the root of all these middle east wars, a federal court judge sealed all documents associated with it for the administration, and the national media are not allowed to discuss or comment on it. More troops are needed in Afghanistan to protect the contractors building the pipeline. Iran stands in the way of total control of global oil now with sales of oil to China''s Sinopec Oil,deal signed Dec.10,2007. Months ago China said there would be dire consequences if the US interfered with there direct oil contracts with Iran. Both parties in the Congress should be very concerned with China''s growing war machine and need for oil. They are the real threat & the administration doesn''t care they are in control ! All that matters to them is BIG OIL and their corporate stock portfolios

[omega39-2009]

Posted by samsel3

samsel3, taking out Saddam and disrupting Iraqis oil flow certainly did help, as does the speculative increases resulting from constant posturing against Iran and Venezuela. As I stated earlier, a pi$$ poor foreign policy.

[poor-slob1]

whoa pull back on the reins a little harder and the horse might buck you off, mr bush just let the horse have the lead. now he can''t get control of it again. bring your people home let them build their own infrastructure and start over. well it''s a good dream anyway.

[samsel3]

Russia is the second largest supplier of oil on the planet, the Saudis are number one. After Saddam was removed they lost one of there sources and moved to Iran to fill the void. In exchange they also negotiated contracts to build multiple nuclear power plants in Iran. Russia is well aware of the Cheney plan for the Casapian Sea pipeline which will be cheaper to build if the US goes through Iran. Iran does not want to negotiate with the US on this pipeline. Cheney wants regime change, but Russia does not because it''s not in there economic interest. Thats the real deal !
Russia reneged on contracts with BP oil UK for new Siberian wells and also renegotiated contracts for existing BP production wells in Russia for less money. BP was not happy and teamed up with US oil interests for the Caspian Pipeline deal now under construction.

[walt1944-2009]

The Great Emperor Bush II is discussing with the Saudi royal family the possibility of pumping more oil out of the ground to satisfy the thirst for oil in the USSA and (he thinks) bring the price of oil down.

Naturally, nothing was said from the Great Emperor about how best to CONSERVE OIL, only to pump more of it out of the ground as fast as the Saudis can. Apparently, the word CONSERVE does not appear in the Great Emperor''s rather limited vocabulary.

However, it has been learned that the Saudi king has stated the Saudis will pump more oil only when the world market demands it, not when the Great Emperor demands it. The Saudis are not as stupid as the Great Emperor and know that they are sitting on a natural resource that has a limit to it. Unlike the USSA which is exporting its raw materials as fast as it can to produce cash (since there is nothing left to manufacture and export here), other countries know what resources they have and want them to last as long as possible, not strip the land and turn it into a great wasteland which, apparently, is what the Great Emperor Bush II and the Fascist neocon Republicans want.

Despite this setback, the heads of the 2 "royal families" rubbed shoulders, gave each other medals, and told themselves they would keep "in touch"!

SIG HEIL, BUSH!!!!!

[grazinggoat]

Link to States Taxes over Gasoline (2005) and this does not seem to abate. Worth mentioning an 18.5 cent/Gal for Federal Taxes added on top of States Taxes.

http://www.gaspricewatch.com/usgastaxes.asp

On average it''s about 20% taxes included in the Gas price, we feed our governments, every time you stop at the pump.

[rowdytexan2]

"It''s tough on our economy," Mr. Bush said before he began a roundtable with Saudi business people."

Oh, this is just priceless! Hahahahaha!

[samsel3]

taking out Saddam and disrupting Iraqis oil flow certainly did help, as does the speculative increases resulting from constant posturing against Iran and Venezuela. As I stated earlier, a pi$$ poor foreign policy.

Posted by omega39 at 09:01 AM : Jan 15, 2008........I agree. Part of Cheney''s energy policy is to build multiple pipelines from many areas of the region so that the US & British oil interests can control global markets and weaken Russia''s and Irans positions.

[l8c6]

They are the real threat & the administration doesn''''t care they are in control ! All that matters to them is BIG OIL and their corporate stock portfolios

Posted by samsel3

Yes, all this but it didn''t stop global "american" corporations from selling out the american people to increase their profits and at the same time help build China.

[samsel3]

Reuters uk-business: January 14, 2008 reported that US/Iran tensions over it''s nuclear programs may cause Iran to retaliate by cutting oil production. This will cause the price of oil to go even higher. More profits for BIG OIL

[antoniof123]

Posted by omega39 at 09:01 AM : Jan 15, 2008........I agree. Part of Cheney''''s energy policy is to build multiple pipelines from many areas of the region so that the US & British oil interests can control global markets and weaken Russia''''s and Irans positions.

Posted by samsel3 at 09:06 AM : Jan 15, 2008

You are correct rather than work together with other countries the neo cons want to rule others and have slaves. Soon neo cons your rein of terror will be over. Good riddance and thank God.

[samsel3]

January 9, 2007 Bush met with the president of Turkey on the 10th he was in Israel. The connection is the Turkey Israeli pipelines, the real purpose of the recent middle east peace summit . The actual story are the proposed oil pipelines that will be built down the coast from Turkey to Israel. Condi Rice is trying to broker this deal. BP oil, US oil interests and the Saudis all have a stake in that pipeline. Domonique Strauss- Khan managing director of the International Monetary Fund and Robert Zoellick president of the World Bank were in attendance. Big money won''t finance the venture without stability in the region.
In the Daily telegraph, July 22, 2006 Condoleeza Rice stated her main objective in the middle east was not to push a ceasefire in Lebanon, but to cause an isolation of Syria and Iran. The strategic objective is all tied to oil and oil pipelines. In April of 2006 Israel & Turkey made their announcement which included four pipelines which will bypass Syria & Lebanon. The source of the oil is the BTC pipeline from the Caspian Sea Region. Shareholders in the BTC pipeline are: British Petroleum, AzBTC, Chevron, Statoil, TPAO, ENI, Total, Itochu, INPEX, Conoco-Phillips & Amerada Hess. Another very important factor on the war with Lebanon is that Israel will have a strategic role in protecting the pipeline and transportation corridor out of Ceyhan Turkey. The strategy will weaken Russian oil''s role in central asia and also isolate Iran.