Colluding With the (Oil) Enemy
Those charades drive a stake into the idea that oil is a market. In a real market, you would not even be able to think such a thing. But in oil, some big players can readily hoodwink the market into a perfect crisis. The only way to deal with this is through principled strength. Flood the market. Up the ante on the Saudis and release oil from the strategic reserve plus introduce a BAT making it harder for those players to sell in the US. The refineries need oil from abroad? Give them a good reason to retool. The US market is big enough to pull through and the US is winner and loser at the same time here. OPEC + only loses as oil is all they have.
