How not to punish the Saudis over oil prices
President Biden and congressional Democrats are furious with Saudi Arabia for pushing the OPEC cartel to cut oil production, and they are threatening ‘consequences’. The ingenious plan seems to be to tell the Saudis that unless they do what Mr. Biden wants, the United States will shoot itself in the head.
Last week, the Saudis joined OPEC, Russia and other oil producers in cutting production by two million barrels a day. As the Journal reported this week, Saudi Arabia Crown Prince Mohammed bin Salman made the decision despite pleas from the United States to wait at least until after the November election.