World News and Trends: Saudi oil and U.S. dependency
With the Middle East holding the majority of the world's oil, what's to come when conflicts boil over?
The recent death of King Fahd of Saudi Arabia created some concern from those nations that are dependent on Saudi oil. A top Saudi diplomat reassured all oil-dependent countries that the Saudis would pump oil "to the best of our capability, with a reasonable price" (CNN, Aug. 2).
"Saudi Arabia holds a quarter of the world's known oil supplies, and crude futures set a new record of $61.57 a barrel after news of Fahd's death. 'I would like to reassure you of our government's pledge to continue King Fahd's legacy of providing the world with a stable and secure source of energy,' Rihab Massoud, the Saudi charge d'affaires in Washington, told reporters" (ibid.).
On March 24, 30 prominent Americans wrote a letter to President George W. Bush about an impending oil crisis. Former National Security Adviser Robert McFarlane, former CIA Director James Woolsey, former Assistant Secretary of Defense Frank Gaffney and others, including 12 retired generals and admirals, five former secretaries of defense and several retired senators and representatives signed the letter.
Oil is critical for the future of the Western world. Yet the Middle East, rich with that lifeblood of the world's economy, is a boiling stew of conflict of almost every kind. Bible prophecy tells us that it will eventually boil over, igniting a horrendous end-time conflagration that will bring the human race to the verge of extinction.
The only thing that will spare us, in fact, is Jesus Christ's return to earth to save us from ourselves (Matthew 24:21-22). If you'd like to learn more, request or download our free booklet The Middle East in Bible Prophecy. (Source: CNN.)
An Article from:
Good News Magazine: September - October 2005
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Jerold Aust
Jerold Aust has served in the ministry for 52 years, as a public speaker for 58 years, a published writer for 38 years, and is employed by UCG’s Media and Communications Services. He is a Senior Writer, interviewer, and editor for Beyond Today Magazine and has taught Speech Communication for UCG’s ministerial online program and the Book of Revelation for ABC.
Jerold holds a BA in theology from Ambassador College, Pasadena (1968), an MA in Communication from California State University, Fullerton (1995), a distance-learning Ph.D (2006), and a Famous Writers School diploma in non-fiction writing (1973). Additionally, he studied post-grad communication at University of Southern California (1995), radio, TV, voice-overs, and Public Relations at Fullerton College (1995-1996), and graduate communication at Wichita State University (1978). Jerold has taught communication at the University of South Alabama (7 years) and ABC (17 years). His published works include, Ronald Reagan’s Rhetoric: Metaphor as Persuasion and EZSpeakers: Public Speaking Made Easy in 7 Steps. Jerold's overarching goal is to share with humankind its incredible destiny!
John Ross Schroeder
John died on March 8, 2014, in Oxford, England, four days after suffering cardiac arrest while returning home from a press event in London. John was 77 and still going strong.
Some of John's work for The Good News appeared under his byline, but much didn't. He wrote more than a thousand articles over the years, but also wrote the Questions and Answers section of the magazine, compiled our Letters From Our Readers, and wrote many of the items in the Current Events and Trends section. He also contributed greatly to a number of our study guides and Bible Study Course lessons. His writing has touched the lives of literally millions of people over the years.
John traveled widely over the years as an accredited journalist, especially in Europe. His knowledge of European and Middle East history added a great deal to his articles on history and Bible prophecy.
In his later years he also pastored congregations in Northern Ireland and East Sussex, and that experience added another dimension to his writing. He and his wife Jan were an effective team in our British Isles office near their home.
John was a humble servant who dedicated his life to sharing the gospel—the good news—of Jesus Christ and the Kingdom of God to all the world, and his work was known to readers in nearly every country of the world.
