Middle East
Nevermind U.S. shale, Saudi Arabia’s oil power play targets Iran’s economy
All politics are local, except for oil politics. The Russians think these low oil prices are an American-Saudi conspiracy. American commentators believe that the Saudis have driven down prices to punish North Dakota s shale oil revolution and drive its high-cost producers out of the game. In Canada, the paranoia in Calgary is that the Saudis and other Gulf oil producers want to drive the oil sands out of business.