How’s ISIS able to make millions each day from oil sales? |Ziad Abdelnour on Fox News

Ziad Abdelnour says if we really want to go after these terrorists, we have to go after their pockets

On a wider scale, Iran will be tempted to invade Iraq thus turning this into a major international crisis as Russia and even China will be backing Iran since both countries have boiling Islamic militant problems especially Sunni in their background. This will be their “War on Terror” which Washington will have practically no moral grounds to oppose.

Washington on the other hand will be put to test in terms of its relationship with the House of Al Saud as Saudi Arabia and other Sunni Arab states will scramble to support ISIS directly or indirectly as they don’t want a Shiite Government in Iraq in power. ISIS might also go for Turkey and indirectly support militant Islam in other Central Asian countries and Afghanistan. Eventually, the West will be targeted again, but for now they would want a Sunni backed power house rather than seeing the Middle East falling into the hands of the Iranians.

Bottom Line: Even with decreasing oil imports, the US is inextricably linked to world markets. That means that if the situation in Iraq continues to deteriorate, the US economy may not be immune. Our main vulnerability is not so much the direct impact on oil, but the impact on the rest of the world’s economy, if there’s a big oil supply disruption. As long as the world oil market is pretty highly integrated, the US is vulnerable to an oil supply disruption in the Middle East or the Persian Gulf, regardless of the amount of oil it imports from the region.

Continue Reading: How’s ISIS able to make millions each day from oil sales?

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