SPECIAL REPORT
and PDVSA default on loans . So , given the state of US politics , “ that might lead to outrage ( somewhat xenophobic ) among lawmakers and the population , not wishing to have core life-blood refined products in the hands of adversaries . Of course , we have a much better relationship with Saudi Arabia , but this needs to be watched very closely ,” Kloza added .
According to him , Motiva ( or Saudi Aramco ) could buy a number of individual US refineries without difficulty . However , if it attempted to take out a multirefining company - like PBF , or Tesoro - it would probably run into hastily assembled hurdles from US lawmakers .
Therefore , Cornell doesn ’ t believe that there is need for alarm and “ any kind of nationalistic American concerns about security threats when it comes to foreign ownership are usually more linked to cynical protectionist impulses than to legitimate national security threats . If the Saudis or any other country halted their American refining activities explicitly to damage the US economy , that would be a blunt and ineffective weapon - it would be a highly aggressive act by a longstanding ally , the volumes would be easily replaced , and any economic impacts would be spread thinly and beyond American borders .”
As for Dr Tamimi , one should not confuse the Saudi government ’ s investments with Aramco ’ s investments . It is true that the company is a state company but its management and investment decisions are independent . “ The bottom line is , Aramco would not risk any access to US markets for Saudi Arabia ’ s political gains .” Therefore , the Port Arthur refinery is about diversification and market share , not about nefarious security intentions .
16 August 2017