How the Oil War between Saudi Arabia and Russia Affects their Plans for Nuclear Energy
- Apr 12, 2020 4:10 pm GMT
In the past few weeks while much of the world struggled with the deadly corona virus crisis, Saudi Arabia and Russia briefly engaged in a ruinous price and production war over oil.
The root cause of the dispute is control of market share for global oil sales for two major authoritarian nations who have bet their command and control national economies on fossil fuel revenues. The growth of U.S. oil exports from fracking in North Dakota and elsewhere has confounded the traditional controls sought by OPEC nations.
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