The Realist Prism: It’s Time to Stabilize Global Oil Markets

It is time for President Barack Obama to initiate an informal, tripartite dialogue with King Abdullah of Saudi Arabia and Russian President Dmitry Medvedev about stabilizing the global price of oil. Leaving the decision in the hands of speculators has not served the interests of any of these three countries. At midweek, the price, while coming down, still stood higher than $100 a barrel, with Brent crude currently trading at roughly $112 a barrel. Counterintuitively, oil producers are hoping the price descends further, because if oil gets too expensive, customers begin looking for other sources of energy. Last week, speaking […]

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