he wanted higher oil prices and it got to a point that there was fear if oil prices went up at the end of 1976, there would be a series of financial failures, including bank collapses on wall street. >> but you're suggesting that the power that the oil cartels' influence wields, goes beyond energy resources, goes to their capacity to directly threaten global financial stability? >> absolutely. and my work is really focused on that earlier period, but there are parallels now with high oil prices and financial stability, and that also plays into what's happening in southern europe at the moment. in this earlier period, you saw the same southern tier european countries destabilized by high fuel costs. and there was an urgent need for the u.s. to then intervene and break opec. >> here's what fascinates me the most about u.s. and saudi arabia, maybe you can offer me