“According to Fortune, other OPEC ministers largely went along with the Saudi gamble on price increases”

BREITBART
Saudi Energy Minister Declares End of American Energy Revolution: ‘Drill, Baby, Drill Is Gone Forever’
by John Hayward
March 5, 2021

Prince Abdulaziz bin Salman, Saudi Arabia’s energy minister, crowed at Thursday’s OPEC meeting that the American energy revolution is over, OPEC would soon regain control over oil markets, and “Drill, baby, drill is gone forever.”…Falling oil prices, driven by surging American supply, not only propelled the robust American economy that would be ravaged by the Wuhan coronavirus in 2020; they were a powerful driver of geopolitical change. Among other things, cheaper oil weakened the malevolent regime in Iran and helped propel reform in Saudi Arabia, where plans to shift the economy away from oil and renovate the Kingdom’s politics to attract more foreign investment suddenly took on new urgency. READ MORE

This entry was posted in Islam, Israel & Middle East, Politics and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.