After two years of refusing to cut, "to maintain market share" (i.e. to kill the nascent American fracking industry) Saudi Arabia-led OPEC this week reversed course in a surprise move. The price of a barrel of oil went above $50--good news for Russia, $50 is their break-even point; bad news for Americans.
Coincidental that the abrupt change of course came the week Congress overrode President Obama's veto of a law allowing families of 9/11 victims to sue Saudi Arabia? No.
Coincidental that the abrupt change of course came the week Congress overrode President Obama's veto of a law allowing families of 9/11 victims to sue Saudi Arabia? No.
