Perhaps the time is nigh to question the extension of a carte blanche to the various irreligious authoritarian theocracies and dictatorships in the region
‘Collapse’ is probably insufficient when it comes to describing the scale of the historical plummet witnessed yesterday in global oil prices, with global oil markets still under immense pressure.
The gravity of the situation , largely mirrors the extraordinary drop in global economic activity amid the pandemic that has now gripped the world, altering as has done so just about every walk of life imaginable. Unsurprising in its occurrence but surprising in its magnitude, the reduction in global economic activity witnessed as of late, subsequently translated into exceptionally suppressed demand for oil.
President Donald Trump found a silver lining in this all, floating the possibility of ceasing Saudi Arabian oil imports whilst simultaneously taking advantage of the cheap oil to ‘top-out’ US strategic oil reserves. In any case, the idea that Russia and Saudi Arabia might for the time being draw upon less revenue to fund the various regional wars they have driven is certainly not the worst of all possible outcomes in the world.
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