The incisive, intense, and increasingly incendiary geo-political, economic, and strategic debate concerning the Saudi Arabia/ US struggle for crude oil market share is basically unacknowledged in the local print and social media.
In a recent Oil Price column, dated April 27 and entitled “Trump Could Use Nuclear Option to pay for Oil War,” he presents the starkest review of the Saudi Arabia/ US conflict I have ever read from an admitted Insider.
Second, the Trump Administration is furious that, with COVID-19 placing extraordinary downward pressures on oil demand, Saudi Arabia could have contemplated, let alone implement, an oil war aimed at reducing US market share.
Third, there is a growing conviction that Saudi Arabia must be penalized for the harm it has brought to the US and the President’s prospects in an election year—the huge loss of jobs and the carnage of shale oil production.
Watkins believes three key options, all highly incendiary, are in play: 1) the imposition of tariffs on imports of Saudi Arabia oil; 2) the passage of the No Oil Producing and Exporting Cartels Bill; and 3) the threat of using the US’ nuclear option.