Oh crap! Sounds like a quid pro quo which will need a congressional investigation. Here comes the next round of impeachment proceedings.
Can hardly wait.
Yes, morality and principles will take you a long way, just like Obama showed us.
The body of Real Politik requires Machiavellis and Count Metternichs,even while adhering to the principles of our founding fathers. Publicly proclaimed ideology is a weakness exploited by our enemies. Look at Obama. The Russians fed Obama all the ideological things Obama wanted to hear and Putin bent Obama over a rail and corn-holed him royally.
That’s not happening with PDJT, who is a brilliant strategist.
So you are OK with the Saudis targeting shale short term using oversupply to bankrupt them so as to regain their hold over long term much higher prices? You got a serious case of the economic/business dumbs. The Saudis/Russians/OPEC were being predatory trying to eliminate competition. How is telling them quit your sh!t or we are “taking our ball and going home” in any way unethical or morally bankrupt? Downright ignorant. The same way a cartel can raise prices, they can lower them below everyone’s production cost and eliminate fair market competitors.
Ay what point does excess production become an ecological disaster?
We have 17+ tankers sitting off the coast of CA because they cannot unload. We have no storage space. Where are we supposed to put the oil these little spoiled brats imsist on selling us?
No, we want them to NOT try to drive our domestic oil producers out of business by slashing oil prices, so that they can raise prices later.
“It just goes to show you how morally bankrupt and unprincipled we have become as a nation. We used to hate OPEC because they limited production to drive up energy prices. Now we want them to limit production to drive up energy prices. “
You are so silly sometimes.
There is nothing morally bankrupt in recognizing the even though the price directions back then and now are not the same, both have the Saudis trying to artificially create oil market conditions for purposes that have nothing to do with natural oil supply vs demand conditions.
When OPEC sought to drive up global oil prices it was political, to try to hurt western economies due to different perspectives, western vs Arab, over western Middle East policies, particularly regarding the Arabs of Palestine. We opposed the Saudi action because with the oil price increases OPEC was trying to extort different geopolitical policies from the west. There was no essential, natural supply demand problem supporting the OPEC price increases. There was nothing morally bankrupt about our opposition to what OPEC did at that time.
At this time, there is, again, no essential, fundamental, natural supply demand problem that calls for greater global oil production. In fact, the natural signals across the globe include depressed demand at this time due to extreme economic downturns resulting from the Wuhan Virus pandemic. The Saudis are again taking actions that have nothing to do with any natural supply demand imbalance. They are artificially creating, again, an imbalance between what the demand signals say the world needs, and what they are choosing to produce, in spite of depressed demand. Like they were before, the prices coming from the Saudis actions are driven by artificial means - intentionally over producing more oil than the world needs right now. Again, the Saudis are trying to artificially manufacture market conditions. There is nothing morally bankrupt about opposing what the Saudis are doing.
Nonsense. The main goal is for them to be responsible market participants. Yo-yoing the supply is not being responsible.
No we need them to otherwise Canada and the US oil industry will fall apart. I believe this is what "our friends the Saudis" and the Russians were really up to.