‘This is not World War III’: Jim Molan urges calm over Middle East oil conflict
Former senator Jim Molan is urging calm over the Middle East oil conflict, saying “this is not World War III”.
The US Energy Secretary actually believes energy markets will react positively to the drone attack on two of Saudi Arabia’s oil facilities.
The attacks have affected roughly five per cent of the global crude output and caused the biggest surge in oil prices since 1991.
But retired major general Jim Molan tells Alan Jones there’s no need to panic about supply, based on this incident alone.
“The OPEC [Organisation of the Petroleum Exporting Countries] countries, and particularly the Gulf countries, are able to make that up in the short term.
“So now is not panic time, we shouldn’t be rushing to failure n this particular one.
“That’s why I say, this is not World War III.”
Click PLAY below to hear the full interview