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Former Deputy Assistant Secretary of Defense KT McFarland explains why the U.S. needs to focus on Saudi Arabia.
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-- -- is today as the price of oil continues to decline and so do stocks but the oil price down after the International Energy Agency came out and said it's releasing sixty million barrels of oil.
Half the tariffs from the strategic petroleum reserve.
They're clear winners.
-- the consumer will be a winner if the price of the pump go down but a big loser.
Could be the country of -- wrong with more on the geopolitical implications of all of this.
Maybe the rooted in the decision making KT McFarland former deputy secretary of defense -- Fox News contributor.
What does it say about our relations.
With Iran and we don't buy oil from Iraq maybe Saudi Arabia to Saudi Arabia has already come out and said.
There were going to pump more -- well after that OPEC decision not to raises -- Well and our relationship.
Saudi Arabia is in fact a really critical one and it's one that we have it has bastard.
The saudis are very upset with us because of the way we treated Mubarak.
V -- they said he was that you got a friend of thirty -- standing we've pulled the rug out from under him.
And why we could do the same to them because -- friend as well so what they were mad -- -- for was not.
But some of -- did have to go but the way we did it.
And in Saudi Arabia a lot of his personal so -- -- very frosty relationship with them.
Ever since then we have not gone to repair that and what have we done in addition to make it -- Spock rain are praying Asus is a countries out of Saudi peninsula Saudi -- -- very nervous about our brain because whatever happens there.
Happens in eastern Saudi Arabia it's the same demographics.
And that's world annual analyst.
Our interest and all of us I mean I take a step back what's America's strategic interest entire region free fall borrow.
Stability in the Saudi peninsula.
And we have not withdrawn after that we've been worried about Libya we're talking about Afghanistan Pakistan and what we really -- -- -- focus on Saudi Arabia.
So how does this particular -- today releasing how this oil may be change that dynamic in the relationship that you're talking about because.
The administration -- the supply shortage coming out of Libya which doesn't Nestle have much of an effect on us has an effect on the Europeans they buy -- -- from Libya we don't.
But how does this move affect that this.
Like you figured out how Palin could never figure -- -- out anyway.
Because it's out of our strategic interest is in -- -- and strategic interests oil refugees they want -- they don't want the other one but it doesn't have a big effect on us.
But I'm not sure what the administration's strategy -- except maybe they think this is an economic stimulus I would if our preferred they go to the -- -- Think -- -- -- you just said -- that Democrats want to spend money they want stimulus.
This is money -- sitting there going unspent so -- 127 million barrels in the strategic petroleum reserve.
Conservatively.
66 billion dollars is just sitting there so why not release a little bit oil and maybe bring down gas.
-- and -- April credit for an improved economy which is going straight downward.
Let the better thing to do get the saudis to play with Theo I'll turn the stick it on turns picking off mean that strategic petroleum reserve for an emergency when you really need -- national security emergency.
We gonna be -- let's flash forward a year from now.
What does this stability instability and a static and so what are the Strait of Hormuz -- -- we can't get oil out about this spring 5% of world's exported -- That would be the time with money is a strategic petroleum reserve to do.
Up -- -- oil on there for what it's worth this I think 4% of it but still best.
Don't let us -- when we really need it let's -- squander it now.
Can you you have demand this week -- prices that are falling and they releases -- Amex -- -- KT great to see -- -- -- pollen has all.
