If there wasn’t already enough geopolitical tension in the Middle East, particularly as arch rivals Saudi Arabia and Iran continue to square off on opposing sides in the Syrian Civil War, fighting in Yemen, and other issues, competition to be the region’s first nuclear power could also soon be underway. On Wednesday, Saudi Arabia put the U.S. on its shortlist of potential partners competing to build nuclear-power plants, while the country continues to negotiate with U.S. Energy Secretary Rick Perry on how to strike such a deal without spreading nuclear weapons. Perry said that working on non-proliferation would remain a challenge. In fact, talks are stalling over what Reuters said was the kingdom’s desire to relax nonproliferation standards and potentially allow the country to enrich uranium and reprocess plutonium. Moreover, these are technologies that non-proliferation experts claim could be covertly altered to produce fissile material for nuclear weapons. It’s the same argument we have heard for years over Iran’s nuclear development ambitions, a poignant worry considering the geopolitical problems in the Middle East.
Oil Price 29th Sept 2018 read more »