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Doesn't this happen just before every US election?
Warren believes that Jimmy Carter's deregulating natural gas undermined OPEC and drove down the price of oil, but another theory is that Henry Kissinger cut a backroom deal with the Sauds at Doha in 1976. The Sauds agreed to sell oil for dollars at a moderate, stable price, and in return the US would use its influence and power to prop up the not-so-popular and not-so-nice Saudi regime.
Part of the reason the Sauds abandoned OPEC was because they wanted to hurt Iran. The Saudi plan worked so well that the Iranian economy tanked and the Shah was overthrown.
The natural gas deregulation law didn't pass until '78 and even then was phased in gradually. Natural gas prices continued to climb until the mid 80's. Yet inflation had slowed by 77, and didn't rear its head again until the Iranian revolution.
PDF on Doha deal at link: http://masoudbehnoud.com/weblog/s2.pdf
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Doesn't this happen just before every US election?
Warren believes that Jimmy Carter's deregulating natural gas undermined OPEC and drove down the price of oil, but another theory is that Henry Kissinger cut a backroom deal with the Sauds at Doha in 1976. The Sauds agreed to sell oil for dollars at a moderate, stable price, and in return the US would use its influence and power to prop up the not-so-popular and not-so-nice Saudi regime.
Part of the reason the Sauds abandoned OPEC was because they wanted to hurt Iran. The Saudi plan worked so well that the Iranian economy tanked and the Shah was overthrown.
The natural gas deregulation law didn't pass until '78 and even then was phased in gradually. Natural gas prices continued to climb until the mid 80's. Yet inflation had slowed by 77, and didn't rear its head again until the Iranian revolution.
PDF on Doha deal at link: http://masoudbehnoud.com/weblog/s2.pdf
Didn't that cooperative deal between the US & Saudis occur back ~1946?
What's changed?
OPEC changed it for a while, Roger.
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