MBS and Putin are fighting an oil-price war: The world must seize the opportunity
A version of this article appeared earlier in Salon
Like James Dean and Sal Mineo in “Rebel Without a Cause,” Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman played a game of chicken with the world economy. They ended up blowing up their OPEC+ partnership and driving oil prices down 30%, to below $40 a barrel.
Faced with a coronavirus-driven global slump in demand for oil, Mohammed tried to double-down on the OPEC+ strategy of restraining…