Transcripts For ALJAZ Unfair Game 20240714

The finger at other countries needs to take a look at its own role in creating this instability in this region ronnie said that the United States is supplying arms to saudi arabia and the emirates he Left Coalition that is waging this war in yemen he urged all parties that the way to resolve this conflict and have some kind of stability in this region is suits were dialogue their remains have said over and over again that theyre willing to mediate between all the parties involved to bring some kind of an end to this conflict iranian president Hassan Rouhani has also said in the past that these kinds of accusations only further ties between tehran and washington do not help to create any kind of dialogue between the 2 countries that is something the u. S. President donald trump of said was interested in having a meeting with the iranian president at the United Nations later this month but given the current climate and the accusations that have been coming at the iranian officials it is very unlikely that president Hassan Rouhani will be open to that kind of a meeting until these sanctions are lifted on iran and that these kinds of behavior that iran says has been waged them is changed for the time being. And whether its next but still ahead rebuilding the bahamas 16 up operation resilience in the islands battered by both a Tropical Storm and hurricane. In a miccolis talk in the most forests where century old trees are being birthed and find out next what the government can you are doing to prevent the destruction in east africas largest indigenous forest. Weve still got some showers affecting southern parts of china at the moment still want to see thunderheads showing up here the majority of the showers over towards the southwest of the country and thats where the heaviest downpours the flooding rains have been a recently hong kong should brighten up or should dry up temperatures say 31 celsius on monday a tad warmer as you go on into tuesday very wet weather still in a similar area and notice some very heavy rains still continuing across northern parts of the philippines we have seen flooding here of course over the past few days you can follow that long chain of thunderstorms rolling across southern parts of vietnam cambodia will work across into thailand again we see some flooding in thailand to a law in a very wet weather at the system monday going on into choose they just not being a little further northwards for malaysia for indonesia stan retry and generally sunny dry and sunny to into the far northwest of in the pakistan as well but we are still seeing plenty of showers up towards showed up but still some very heavy showers around that North Eastern corner of in the end more of the same as we go on through the next couple of days i shall still sink in the way down the west and guess what 2 showers to the sri lanka. Good weather sponsored by catherine was. A world meets to arab immigrants who left the middle east and built exceptional lives over seeds. Weaving into the fabric of society of their adoptive countries trying success in germany and canada yet never forgetting their homelands of syria and lebanon. Remarkable human stories of arabs abroad the politician and the inventor on aljazeera. Hello again im just. A reminder of our top stories this hour saturdays drone attacks on Saudi Oil Facilities have triggered a record jump in brant crude futures trading u. S. President all trump says hes authorized the release of oil from americas Strategic Reserves to fill the market gap if needed. Trump also says the u. S. Is quote locked and loaded waiting for a confirmation of just attacked riyadhs Oil Facilities secretary of state mike pompei it has already accused iran for the attacks claimed by yemens rebels tehran has denied involvement. Now ballots are being counted in to nearly half of registered voters turned out to choose their countrys next president official results arent expected until choose day but supporters of the 2 candidates. Have both claimed to have won the 1st round and already celebrating sundays vote for a 2nd president ial election since the 2011 revolution Stephanie Decker reports from tunis. Half an hour before voting was due to start a small queue had already formed tunisians waiting to have their say on who is going to be their next president of the race and how i came here to vote in order to get someone who can get this country out of the crisis the economic crisis the financial crisis we have lots of debts its very frustrating for me im not fully convinced about any of the candidates because there are so many and i havent seen them from the beginning its the 2nd time tunisians are electing their president since the revolution 8 years ago tunisia is often quoted as the only democratic Success Story to come out of the socalled arab spring the 1st country where its people took to the streets bringing an end to the 23 year rule of president saying. This is democracy in action yes there are many different candidates to choose from but the question is what can they offer to people are they going to offer real change or is the next president going to be more of the same voters here are telling us theyre tired of empty promises. The next president is pressing issues to deal with unemployment is higher than it was before the 2011 revolution the security situation is a concern and corruption remains rampant the new leader will face a population hungry for change especially the youth many have told us they dont trust the politicians. To leave these elections are a good thing its the 1st time weve had a debate on t. V. Without president ial candidates we used to watch the debates on t. V. In the United States and now were watching the same thing here in tunisia thats the 1st. National and International Observers were polling stations across the country we knew just a gradual slew of people but interestingly we saw many elderly coming in very in the morning and been very well organized and there has been no issues and so so far its been good which is hoping that by no the young people would have come on only increase the percentage of voters luminary results later with the official announcement on choose day the winning candidate will need more than 50 percent of the vote and no one expects that to happen the likely scenario out of 24 candidates the top 2 will head to a runoff in november by the end of the day tunisian should know who they are Stephanie Decker aljazeera tunis. And algeria is due to hold its president ial election now on december 12th date has been announced by interim president under carter ben salah the country has been rocked by months of protests since former president bush a flicker was forced to resign back in april after nearly 20 years in power. Aid operations have resumed in the bahamas as Tropical Storm humberto moved away from the area after dumping rain over parts of the archipelago its northwest some communities are now coming together for the 1st time since Hurricane Dorian hits 2 weeks ago our correspondent allan fisher has this report from freeport on the island of grand bahama. For many this was the 1st time to come together since the hurricane the church a source of comfort after some difficult days once more hugs were warm the tears were real the stories of survival frightening we watch our house and our homes destroyed i mean a limb by limb or whatever you want to call it. Sometimes over 20 feet. Over the roof into the roof because you know sustained some damage in that area we saw that but luckily dad didnt see us there sharing what they have one man and his family are sleeping at a friends one woman has a working well so is sharing Water Community coping together we lost Everything Everything we might as a salvage some little shoes and pants and stuff like that so to get out of the suffering of a few of my Church Members ive lost everything you know so i thank god that i didnt have that major damage in my house like some of them but were all alive and were holding on. Just a short distance so we in the hudson neighborhood the work to rebuild has already begun. Many buildings survived but have been left to shell by the storm waters. Is probably about a kilometer from the sea but at the height of the storm the water was so high it would have been above my hate simply inundating all of the houses in this city. People are saving what they can but theres not a lot left to see most of it is. Salt water and sewage backing up into the building. But the everything is you know. While saving the. Sewage george like many families here is hoping things will start improving before the end of the year getting back to normal thats not even under consideration for. Own fish or all jews either in freeport on the island of grand bahama. Now a former Health Minister from the democratic republic of congo has been arrested accused of embezzling 4300000. 00 of public funds that were raised to tackle the above the epidemic Police Allege only a long ago was planning to flee the country and escape justice something his lawyers did i. Break is the 2nd worst in history with more than 2000 people losing their lives over the past year and doctors in zimbabwe are protesting over the alleged abduction of their union leader they say peace and disappeared after he called for a strike over pay the doctors say he received Death Threats several government critics including a comedian and a Teachers Union are also said to have gone missing just over the past few weeks. At least 13 people have died and dozens are missing after a boat capsized in india it happened in the river in southern in the Southern State of under protest local media reporting that 61. 00 people were onboard including 10 crew members but only about 14 people have been rescued so far now the taliban says it will revoke it span and allow the red cross to work in afghanistan is not excluded the group along with the World Health Organization back in april accusing them of carrying out suspicious activities during vaccination campaigns the taliban also says it will guarantee the security of red cross staff in the areas that it controls. And theres been more violence in hong kong after tens of thousands of people defied a police ban and marched through the city center on sunday the protesters are demanding more government concessions and political reforms our correspondent tamara underground reports from hong kong. Another day another represent of unrest. Hundreds of thousands of demonstrators defy a police ban to march through Central Hong Kong once again. There is no shortage of anger here the turmoil in hong kong is well into its 3rd month and protests continue unabated. In the formal groups of volunteers from 1st aid medics to lawyers and religious leaders show that support for these demonstrators is far reaching a full withdrawal of the proposed law to extradite suspects to china was announced by chief executive care really lamb last week a concession by beijings leaders but observers say it may have been given too late. Protesters say theyre refusing to give in until their other 4 demands are met demonstrators say care really is just unlucky and. Everyone knows shes not sincere to face to people at home call a slow as she doesnt respond to all demands we will continue to protest. The government is full of. Its the government that undermine the rule of law police are using on reasonable violence the protesters are using force not ballance its violence only when it harms people. Water Cannons Police tactics which have so far only emboldened protesters to surging forward for the last few months these have become familiar scenes the streets of hong kong have become a battleground this is hong kong on edge young people here tell us they are forever transformed by the recent political turmoil and they are risking all to resist what they call creepy authoritarianism from. 0. About 50 fires continue to burn across queensland and New South Wales and eastern australia about 20 homes have already been destroyed and another 30 damaged favorable conditions on sunday helped slow down the pace of the destruction crews remain on alert with hot windy a Weather Forecast for the next 2 days have been burning across the states for more than a week destroying an estimated 55000 hectares of land weve just been through. Was unfeeling and jumped through over rain 1st over river and. I always thought they were come up there it will never get across the river. Now a battle is underway for the survival of the largest forest of its kind in east africa kenyas government has a victim hundreds of thousands of. Forest over the past 20 years and as nicholas reports Indigenous People in the region say their homes are at risk and so is the areas rare wildlife. Deep in the forest our people who communicate with honeybees. Can sense our intentions explained secure macho to her nephew collect the honey with a pure heart she says and youll be unharmed hanging from the branches are wooden hives people built to protect the bees its a relationship of cultivated over centuries which is at risk. The bees dont really unsub back but we know what theyre thinking its obvious by the sound they make theyre angry theyre upset destruction in these forests. East africas largest indigenous force was cut down to almost half of its original size over the course of 100 years british colonisers of kenya invaded and killed people to turn part of their forest land into te plantations then came 50 years of kenyan government logging when settlers who moved into the forest were given title deeds to the land. A Landmark Legal battle against the kenyan government 2 years ago the verdict recognizing their land rights in need for compensation for their suffering. Now kenyas government is evicting 60000 settler families from their forest in the distance right behind me are trees that were burnt to the ground to make way for farmland and pastures to use for people who want to feed their animals and right here is a 200 year old red cedar tree that was cut down days ago now it will take centuries for part of this forest to grow back and thats why the government here is taking such drastic actions to protect the environment at risk of extinction say environmentalist our 173. 00 species of animals including the bongo elephant and the golden cat sen the drama from the messiah tribe plays jazz music to his cows. The need soothing explains because too many animals are dying this country is littered with carcasses of dead animals because of the drought the model reeva which gives this county over 2000000000 shillings every year dries up. The sea and when you go down and look at the river is horrific. It is a fragile ecosystem in which the survival of the bees depend on the you kick and their survival depends on this forest Nicholas Hawk and the mouse forest kenya. Hello again im a star in doha with the headlines saturday as drone attacks on Saudi Oil Facilities have triggered a record jump in brant crude futures trading it opens 19 percent higher with an increase of up to 11 dollars 73 cents a barrel u. S. President on interim says hes authorized the release of oil from americas Strategic Reserves to fill the market gap if needed funds on a hurry is the c. E. O. Of Energy Market Analysis Group vanda insights and she says the lack of information being released by saudi arabia is making the market even more volatile a much of base is likely to sustain and of course i think while its realty is going to remain with us as well because of the picture as to the extent of damage to. The expected restart resumption how long that will take a lot of the big onsets have yet to emerge well trump also says the u. S. Is quote locked and loaded waiting for a confirmation of just who attacked riyadhs Oil Facilities secretary of state mike pompei it has already accused iran for the attacks that have been claimed by yemen the rebels tehran has denied involvement. Ballots are being counted in tunisia after nearly half of registered voters turned out to elect their countrys next president official results arent expected until tuesday but supporters of both candidates claim to have won the 1st round and are already celebrating sundays vote was tunisias 2nd president ial election since the 2011 revolution. Dozens of passengers are missing after a river boat sank in the democratic republic of congo police say 76 people on board were rescued but 36 others are fairly drowned. The boat went down in the congo river as it headed for the capital and the taliban says it will revoke at spann and allow the red cross to work in afghanistan is it excluded the group along with the World Health Organization in april accusing them of carrying out suspicious activities during that nation campaigns the taliban also says it will guarantee the security of red cross staff in areas it controls well those are the headlines and next up its inside story stay with us. We understand the differences. And the similarities of cultures across the world so no matter how you take it. Well bring you the news and current of the matter to. 0. How it sounded rabia respond to more drone attacks on its Oil Processing plants half of the kingdoms daily output of crude is knocked out what new higher prices worldwide iran dismisses u. S. Accusations of involvement is the possibility of a war between iran and the sound is increasing this is inside story. On the welcome to the program. Its being described as an unprecedented attack on the Worlds Energy supply oil prices are expected to rise after saudi arabia was forced to cut production in half. The rebels in yemen say their latest drone attacks on the Worlds Largest oil exporter one a major success knocking out the Worlds Largest processing plant. Its not known how long repairs will take oil markets havent seen a shutdown on this scale since iraqs army invaded kuwait to start the 1st gulf war in 1990 iran is this missing u. S. Accusations it was behind the attacks the hertha warning of more to come. He said attacks are our right and we warned the saudis that our targets will keep expanding we have the right to strike back in retaliation to the air strikes and the targeting of our civilians for the last 5 years. Lets have a look at some of the recent attacks on saudi arabia in saudi government said a drone attack damage a main pipeline and 2 oil pumping stations west of the capital riyadh in june 26th civilians were wounded in why the Led Coalition in yemen said was a healthy missile attack on airport on the south of the kingdom last month who rebels say they fired a long range missile at the port city of demand in the northeast 4 days later the forces say they launched more drone attacks on 2 airports at her and those around as well as the king khaled base near riyadh and on august the 26th the rebels say they launched a drone attack on a military target in riyadh. Lets bring in our guest in samara hussein. A Yemeni Affairs specialist via skype simon melbourne director of the Richardson Institute for peace studies at Lancaster University in Houston Texas josh young portfolio bison interest and Energy Investment firm welcome to you all saying the latest attack of the Oil Installations in this. Is this new phase in the conflict in yemen is this a new us collision. Yes i believe is a new place and we remember that but if you are a drone attack on the oil pumping station and as well on. Oil fields in saudi near United Arab Emirate it was kind of a message to saudi arabia that were going to start to target you all. Infrastructure but because the saudi actually has continued its war and its combat and blockade on yemen they havent done anything to. Agreement and thats why yemeni army here in sanaa has decided that they should bring this war to the backbone of the saudi economy which is the oil field and thats why they have targeted one of the largest. Oil production site in the ward and i think that if so we will continue its war or if they are not going to come. Through to stop. Its blockade on yemen to have been the port to the airport here in sanaa yemen out of a spokesperson have said that they will continue this type of strikes and attacks that are more big that i talked to come simon were talking about saudi arabia which is one of the Biggest Oil Producers in the world and now with this potential for more disruptions to happen in the near future should the International Community be concerned or should all markets because. Yeah i think it its easy to see how that might be a conclusion to be drawn that the International Community has long been focused on yemen albeit slightly different really isnt theres been a great deal of humanitarian concerns about the ongoing situation there the ongoing Bombing Campaign and the devastating impact the potential for catastrophic human suffering beyond the scale that were seeing right now so the International Community is focusing on it but much like its focusing on events in the persian gulf and concerns about the detraction to shipping which of course will have potential what potentially have an impact on the oil markets this type of response and this type of action i think within the yemeni conflict could also have massive repercussions for the Global Economy and so i think adds another dimension to the International Community focus which could hopefully put it dition all pressure on the parties involved to get this conflict to an end and to put an end to the humanitarian suffering just saudi arabia is widely known for having this ability to cochin against any oil prices spikes but the because of the spare could production of about 2400000 barrels a day they can pump is that something that should be reconsidered now with this unprecedented attack at the heart of the saudi arabia. Yeah i think thats a great question i think actually if you look at what was priced into oil on friday versus what may get priced in on monday there was actually some concern that there might have been additional barrels coming online from the middle east particularly from iran and so that seems less likely right now and then like youre saying the risk of. Saudi arabia more fully supplying the market again from an oil price perspective that could be perceived as a risk that is reduced obviously there are different reports saying that production could come back on line anywhere from 2. 00 days to 2 weeks other reports are saying much longer than that and if it does in fact take multiple weeks for Oil Production to come back online from this particular facility that got attacked as well as from a field that got attacked back it have a really substantial effect both on the price of oil as well as on the saudi economy to say in this book verses of that the earth is managed to fly 10 drones into saudi arabia these were the same jews thats struck the Oil Installations but there is a prevailing sentiment there is absolutely no way the whole thing is how the capabilities to build manifests meant dros to the arabia which is one of the wealthiest nations on earth. I mean they they have the ability though. Yemen which has forced the whole the to depend on themselves to depend on be able here in yemen who have the ability to have studied outside of that of russia in north korea and other area who have seen that man attack started. On days on an abandoned saudi didnt say. I mean that they didnt blame or saying that those drone came from another area but the yemeni army here is well capable of using these drones. And we have seen and that this attack that if the saudi actually will keep trying to blame someone else if they will try to stop this war in yemen everything is going to stop so there is no need for the blame game but they trying to look for any scapegoats because for that it with asian to be defeated by a group which would so we can say that they have no support in yemen and but its actually whats clear now that about hard now is for their money out of me even though they have simple drones saudi arabia have all that type of weapons from the United States and still they couldnt do anything to stop those attacks on saudi arabia and i just want to mention one more thing i would remember the saudi in the last 3 or 4 months most of the strikes they claim that they have thought of the drones factory so i know they are trying to blame someone else or that this drone came from a lachlan of a simon were talking about saudi arabia which is the worlds 3rd highest spend on military equipment investing Something Like 7070000000000. 00 in 2018 yet they cannot intercept and destroy. Some of them dont cost more than 50000. 00 with a massive impact of their economy. Yeah i mean this is i guess paradigmatic example of of asymmetric warfare and the ways in which across history weve seen incredibly powerful military organizations all midis militias whatever it may be that have struggled in the face of of creative for a sponsor of asymmetric responses that have been able to combat and that the huge military might i mean we saw that across iraq in the post invasion years when the United States fought a Counterinsurgency Campaign the u. S. Is a hugely dominant military force but struggle to cattail the militias and that is a sense that would challenge him and its the same thing here you can you can put in place all this fancy military hardware military structure changes but in some cases you can actually legislate or indeed prevent a drone from flying in without some type of shield or Something Like that so its a paradigmatic example of asymmetric warfare in this very little that you can do to stop it unless you try and take out the root cause which is why were seeing these attacks on drone factories just in an area where there is this ongoing debate strained relations between iran and between the u. S. About the supply routes across the strait of. To that what is happening now in saudi arabia and the installations which have been recently hit is this. The beginning of a new geopolitical caltex where oil supplies have to be redefined in a way or another yeah i think thats a great question i think weve been in a period where theres almost been a geo political discount for oil rather than a geo political premium and that is seemed inappropriate to me and has driven me to be long oil equities because they are particularly mispriced but i think i think its its one of these strange things where oil had done so poorly and been so oversupplied for so long that quantitative analysts quantitative funs have just been shorting any rally in oil from a price perspective and from a size perspective the paper barrels available on wall street and across c. T. S. And other quantitative trading platforms are much larger than the fundamental barrels that are produced and sold on a daily basis and that i think has kept this discount longer and made it larger than it should be and i think were in the process and we may see a revaluation starting on monday geo political discount going to geo political premium saying the americas the sod is and many others believe that what the earth is a lot saving is due to the help the getting from the iranians particular from the Islamic Revolutionary guards for that perspective do you believe that were going to worst a broader confrontation between the saudis and the iranians what yemen could be the battlegrounds. I mean those claim they actually try to ignore that there is a bloke in yemen nothing go in or out of yemen only. Must be searched by the saudi. Coalition on the other hand lets say that with their claims. Right if iran really is supply in this mess this mean that the located in yemen has say that the saudi arabia has killed 250. 1000 of yemenis because of the blockade unitive have said one child died every 10 minutes because of preventable diseases so i mean why did they enforce this blockade on yemen and why i mean did they should go to war with iran instead of fighting someone who is broke see and you cannot defeat him so how can you actually defeat iran if iran really who is supplying those weapons but those weapons on those attack on saudi did not start only after saudi launch its war on yemen so did not only target and hosey they even killing each other in the south has already declared the Muslim Brotherhood as a terrorist organization the same thing with United Arab Emirates which claim to island by iran the only thing they want from yemen they just want to buy yemen rhode island and other islands and the main. The best today thats why they came to yemen they didnt come to fight iran iran is in the United Arab Emirates there are flights going from there so they should focus on iran i live yemen simon saudi arabia is broke down in this conflict in yemen which has turned out to be a total embarrassment do you think that of this particular states are they going to be engaged in any confrontation with the iranians or they are just in one position where they have to sort of swallow their pride. I think that this saudi iranian rivalry is long and its complex and it transcends the yemen conflict and i think we must we must put it into context here we must say that this rivalry well it has taken on and it de tional meaning after the revolution of 1979 it has its roots far earlier than that and its about a struggle for regional supremacy its a struggle for regional order and we see that continuing to play out albeit with the sort of the finale error of religion in the years after the 1979 and thats where we can see it playing out in yemen of course as a struggle to to exert influence and to preserve particular forms of Political Organization but it also plays out in iraq in the train in syria and in lebanon in different ways in clown text specific ways and i think what we see is that the saudis are increasingly concerned not only about increasing the rate in him fluent but their own position vis a view that and so that way i think it would be incredibly hard to see the saudis winding back from the us i think itll be difficult to see them taking a step back because of concerns about what i dont what this could mean for the iranians and their influence but also what that would mean for their own just to missy but but the mastic audiences and international in the struggle against the iranians just this comes when the sand is us really excited about what they consider to be plans for the largest initial Public Offering of stock in the world for their oil company around coal which they believe could be one of the biggest financial events of all times is this something that comes as a major setback for all those plants. Yeah i mean ironically every news article every news headline every new segment like this. Is going to further exacerbate the Political Risk that gets priced into saudi aramco i think a way to think about it is for every dollar per barrel that oil goes up on sunday night from a u. S. Perspective monday morning. That should translate into a multiday dollar per barrel discount in the valuation for saudi aramco relative to what it might have been a couple weeks ago prior to this kind of further physical and geoPolitical Risk getting priced in and i think theres been a little bit of misunderstanding about what a ram co could or should be worth there is this idea that i mean its almost like being talked about like a we work or Something Like that where it gets valued at this kind of extreme high valuation wall around code does produce a lot of barrels of oil Oil Companies predominantly today are trading as a multiple that they generate you know their earnings before interest taxes depreciation and amortization so you know if you look at what aramco actually earns net of taxes and loyalties and so on and then and you know we dont have the exact financials out but if you look at what they likely earn and then you look at the additional discount the needs to get put on their multiple given the geoPolitical Risk and the actual physical Security Risk of their barrels being able to get produced and getting processed and getting sold i mean one could argue that the likely valuation if they went public tomorrow would be substantially lower than the number that the talking hossain youve been talking about the truth is determined to continue the attacks but dont you think that is something that could backfire because when he hits the arabia what it hurts the buck demise come back with massive strikes than of a before. I dont think that the saudi has anything to offer now because they have used the old the force at the beginning of this war and they have to reach anything but on the other hand we see that the hoti is used in the war against saudi arabia stage by stage and i think the 1st war in history that one side which is on sort of those hidden are always warning the saudis stop your war thought of get your main vital sites you should stop this war or were going to extend our attack deep inside saudi arabia i mean the main issue here is not about where the weapons come from because we know saudi arabia by all the obvious from United States that is you u. S. And u. K. But a signal inside saudi arabia helping them the main issue there is one country was saudi arabia night out of any of those will launch to a war against yemen or against the host either i agree with them or not. You should expect that this group they will attack back they will retaliate they will try to defend themselves but now we see saudi is crying out loud in every corner of of the war if the word about those attacks and i just want to add one more important thing about duces statement from a u. S. Official about the that iran is to blame all these drones came from iraq we should actually listen to United States where remember before the invasion of iraq colin powell and they were in Security Council with a small pipe have said that this pipe cannot kill everyone in the room and they have launched a war against iraq to find weapons of mass destruction and they havent found anything they destroy the entire country that same thing they want to do to yemen but i believe there are more attack coming on saudi arabia its basically on the oil infrastructure. Simon the u. S. Accused iran for being behind those attacks and offered help Society Arabia could this translate into a new path where the americans would say you know what a thing for the sake of a smooth Energy Supply worldwide we need to protect the saudis win it to build a new defensive infrastructure to put an end to those attacks targeting the audience the nations quite possibly yeah i mean what we fly think seems sense since donald trump came to power is an increasing pressure from between the saudis and the americans because prior to trump under obama thered been a lot of friction and been an increasingly fractious relationship between washington and riyadh and so on to try. This 1st official state visit we start to see this thawing this this this cultivation of the relationship between donald trump and mama bin soundman and the king and i think this is probably the next logical step we know that theres been a great deal of trade between the 2 defense spending etc so i think this would be the next step in a relationship that has really gone back to strengthen going back to its roots for real fundamentals i should say but i think that if this does happen then it will really play into a rainy and concerns it will it will really exacerbate their fears iran has long seen itself is uniquely qualified to to to assert Regional Security whereas the saudis are real like the next earnings funders and external actors so this would really add exacerbate tensions i think and make the situation far worse just the if you look at the targeted Oil Facilities they can process Something Like 9000000. 00 barrels a day and the production though was cut off because of the attack is estimated at Something Like 5700000. 00 barrels a day talking about over half of the nations overall daily output. Do you expect the oil prices worldwide to be affected were going to see a dramatic increase in the oil prices in the coming days or weeks yeah thats a great question and the estimates that ive seen have been anywhere from a 5 to 15 percent potential gap up in oil prices from the Closing Price on friday to the opening price on monday. My personal view is that actually the more interesting place to look isnt going to be in the spot price for physical crude and its not going to be the nymex spot price its going to be the combination of the forward curve so what does oil look like 3 months out a year out and then also what do valuations do u. S. And canadian shale producers because if their valuations start to increase along with the forward curve so further out oil prices increasing you could see a substantial increase in drilling activity in the u. S. And canada which over the short to medium term could start to offset some of the losses so i would watch for both the immediate effect which again analysts much smarter than me with much more data than me or estimating a 5 to 15 percent along with the potential revaluation up a very depressed levels of oil stocks in the u. S. And canada saying is there any rule in the future for political talks with the saudis of the whole thing is the host is willing to go to model and talk to the saudis and stop this. Of course they are willing to do that and they did that i believe in april in 2016 in the run of general south saudi arabia because its already made that secret then after that saudi didnt actually keep any of the of those agreements but hope to talk directly with saudi arabia but we know that saudi arabia doesnt want to be a member of any. Future tall corps as well in the past or because they still call it yemen civilian war or yemeni conflict and thats why saudi actually but i believe theyre after out of those type of attack and if those in yemen i mean extent of it i thought they would force the saudi government to the table but now it will be diffident now and solid or they are stronger than before so they were both that demand on the table thank you well have to leave it there saying the right is simon le bon josh young i really appreciate your contribution to the program and your insights thank you very much indeed and thank you too for watching you can see the program again any time by visiting our website aljazeera dot com for further discussion go to our Facebook Page thats facebook dot com forward slash story you can also join the conversation on twitter our hundreds at a j inside story from me the whole team here in doha but for now. Rewind to attack ends with a new series and brand new updates on the thanks to bound to see this documentary i would compare it to an onion we have done in the sweetest box of hearts and this is the company that wanted to remind continues with can buy a new school from business. This is actually totally crazy scene it just allowed us to pick up 4 kids from his internet they now con out and we could just drive off with them. On aljazeera. If you were in beijing looking out the Pacific Ocean youd see American Warships when mess was that somehow time as aiming to replace america and going to run the World College chinese are not that stupid these guys want to dominate a huge chunk of the planet this sounds like a preparation for our 1st president George Washington said if you want peace prepare for war the coming war on china part 2 on a jazz ego. World leaders from un Member States of preparing to take their seats for this years General Assembly rouhani and President Trump will attend kind of growing tensions between the u. S. And iran be used will multilateral efforts provide solutions to a global refugee crisis escalating laws and Climate Change before its too late so join us for extensive coverage of the un General Assembly on aljazeera. Crude oil prices registered their highest rise ever in futures trading off the attack on Oil Facilities in saudi arabia. And donald trump says the u. S. Is quote locked and loaded to respond to the attacks but is waiting to verify just who was responsible. And there i am stasia tehan this is al jazeera live from doha also coming up counting is underway in china zias 2nd president ial election since the arab spring as some candidates claim a lead in the polls. And thousands of protesters defy a police ban to demands democratic changes in hong kong. We begin now with breaking news a record rise in brant crude oil the dramatic surge is being driven by the attacks on major Saudi Oil Facilities knocking out about 6 percent of global supplies well futures in asia have been 19 percent higher jumping as much as 11. 73 a barrel to 71. 95 the largest increase since futures trading began in 1988 riyadh is racing to restore its Oil Production which has been thrashed inhofe after drones targeted the heart of its Energy Industry president has authorized to the release of oil from the Strategic Petroleum reserve to keep the markets well supplied yemens heathy rebels say they carried out the assaults but the u. S. Is blaming iran tehran says its not responsible i spoke to who is the founder and c. E. O. Of energy group Analysis Group vanda insights in singapore where the exchange has just opened she says the lack of information being released by saudi arabia is making the market even more volatile. Clearly this is a big supply shock for the markets were looking at close to 6 percent of the Global Supply that has been shut down after the saudis have said that they hope to restore at least a 3rd of close to about 2000000 barrels a day of production today but again you know thats not an official statement and i think the market is going to be quite a bit of a wait and watch mort and of course theres going to be a lot of nervousness and i expect plenty of volatility in trading as well weve had major disruptions outages is supply loss from iran from venezuela you know what the market when it looks back thats what it can find in terms of supply disruption examples but then you know we had about 2000000. 00 Barrels Per Day of iranian supply out of the market as a result of u. S. Sanctions we had more than a 1000000 barrels of what day of venezuelan supply that has gone out as well but this has a lot of those have happened over several months both of those have been highly anticipated events it was well known so that the market always to pick has a coping mechanism for that but Something Like this you know this magnitude being taken out of the market just like that you know in a matter of one day its huge its going to cause a lot of knowledge in not just because of the amount of. Supply lost but also because thats just not enough information coming out of saudi arabia officially and i think you know thats going to be quite concerning for the oil markets cost front and karen is on time trying to sow live from washington d. C. Gavan it all of this market on saturday President Trump is saying that the u. S. Will release its strategic training was asked to try to stabilize markets do you see that happening. Well he said that to he would authorize the release of it if necessary and it seems that the u. S. Is at least examining that very closely the us has the biggest Strategic Oil reserves of any country in the world 650000000 barrels of oil an underground salt caverns in the state of texas and louisiana this is oil thats meant to be used in a case of emergency trump tweeting late sunday this saying based on the attack on saudi arabia which may have an impact on oil prices i have authorized the release of oil from the Strategic Petroleum reserve if needed in a to be determined amount sufficient to keep the markets well supplied so trump is indicating there that hes authorizing it if needed and oh well have to see over the coming hours and days if saudi arabia can increase their production to the pre attack amounts sufficient to avoid any further or Oil Disruptions but this is clearly becoming a very big issue in the United States as they watch closely on whats going to happen here and now trump saying they will tap into the Strategic Oil reserve something that is very rarely done if need be and weve also seen a few other tweets from president chavez this morning with some escalating rhetoric. Yeah also trump was tweeting a lot today to join to decipher it all here he was talking about. Saudi arabia attack on a saudi arabia infrastructure there any tweeted Saudi Arabia Oil supply was attacked there is reason to believe that we know the culprit we are locked and loaded depending on verification but are waiting to hear from the kingdom as to who they believe was the cause of this attack and under what terms we proceed so those are some very strong words from a President Trump there. You know again using this very bellicose language that weve heard him used before my pompei of the secretary of state has already said that he claims that iran is behind the attacks something iran denies pompei when the United States have failed at least to this point to private any sort of evidence that iran was behind it youll remember that in june when he ran shot down an unmanned american drone trump claimed that the u. S. Had airstrikes planned against iran but trump called them off he said 10 minutes before they were supposed to happen he said because it would have caused as in its words Collateral Damage would have killed at least 150. 00 innocent people according to President Trump at the time so he has a history of pushing right up to the envelope here with very Strong Language so but this is really going to increase the rhetoric it already has no indications of course that the u. S. Is planning anything imminently and saran but clearly this this tweet by the president which is essentially a statement from the president saying that they are the u. S. Is ready and apparently waiting for saudi arabia to see what saudi arabia says here but president at least giving an indication that the u. S. Is ready to react in some form once they determine who they believe was behind this ok but that is on to across all those developments for us from washington d. C. Thank you again. Has more on saturdays attacks on saudi aramco. Who the rebels in yemen say they flew armed drones across the border deep into saudi arabia to attack 2 major Oil Facilities if confirmed its their most ambitious and devastating operation following dozens of smaller scale strikes in the kingdom in recent months but. We exploited vulnerabilities in the Saudi Defense system and we built our drones in order to avoid these systems therefore the saudi and m. Iraqi airspace became open to us after their Defense Systems failed to even spot the drones. The u. S. Secretary of state flames iran for saturdays attacks might pump a 0 says theres no evidence they were launched from yemen although he hasnt explained how iran is to blame or where the drones took off from secretary powell has made clear that the Iranian Regime is responsible for this attack on civilian areas and infrastructure right are vital to our global Energy Supply and were not going to stand for that in fact our department of energy stands ready to tap into the Strategic Reserves of Petroleum Reserve asked to stabilize the global Energy Supply iran says it rejects the u. S. Accusations. That what is concerning is the wrong path of the americans in the region they are supporting saudi arabia and the u. S. In a sort of consistent to their role in creating instability they point the finger at other countries in the region dialogue between regional neighbors is the only solution to resolving the conflict. The state owned Oil Company Saudi Aramco says the fires started by the attacks knocked out more than half of its entire daily output close to 6000000. 00 barrels of oil the Saudi Energy Minister says stockpiles of oil will be used to offset the loss of production but oil markets havent seen a shutdown on this scale since iraqi troops invaded kuwait to start the 1st gulf war in 1990 and its not clear why. How long repairs will take. The attacks may also undermine Investor Confidence in a run cause anticipated stock market debut the saudi government hopes it will raise up to 100000000000. 00 based on a 2 trillion dollar valuation of the company i dont think it will affect the i. P. O. Of course the Global Supply of 10 percent of the Global Supply come from what i would call and whats the Global Economy and the global source of energy so the world wont accept this to lead to our current with no saying so that if you want i love that the attacks have cut 6 percent of the worlds oil output the impact will depend on how quickly the saudis can restore full production so here is our gov for. For more on this fast moving story lets speak to Lawrence Korb he is a former u. S. Assistant secretary of defense and he joins us now from u. S. And delaware lawrence President Trump is now saying that the u. S. Is locked and loaded thats a not so veiled threat of military action well he said this many times not already. Raining and shot down the u. S. Role and didnt do anything you also use dont turn against north korea is rhetoric usually its not all about why are actions the last thing he wants is a conduit with iran was he trying to negotiate with groser army as they are coming you went down meeting wont let me ask you a little more about that lines because trump also tweeted saying that it was incorrect that he was willing to meet iran with no conditions and for a time there it looks like things may have been thawing out with the departure of john bolton especially whats the state of relations there now between tehran and washington. Well again he wont make any concessions but the french have wanted to see it all Something Like 17000000000. 00 to moran hopefully that will. And even before he said he wouldnt you know you dont make any changes that are policy he sent they or he asked the Prime Minister of japan mr abbate to go to iran to see if they could start talks but youre right hes somewhat inconsistent in the things that he says about it and i want to take a closer look at this tweet and he says that there is reason to believe that the u. S. Knows who the culprit is but theyll wait for verification but the u. S. Has already come out and direct take his to run him insists that they went involved washington is now presumably waiting for riyadh to verify that is that even possible to actually say with any sass and did these attacks well the accusation against the rand was based upon where the Oil Facilities were damaged and it looked like they were damaged in the north and west or of their facilities which would mean that they didnt come from yemen but then id look closer at all the people of look closer at those photos and its not quite clear it looks like some is just from the west that could have been coming from yemen but dont forget the hooty suppan launching drones and the missiles against saudi arabia are were several months now none of them have been able to cause the damage that they did these did but this is not new for them to do it