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U.S. lawmakers resurrect NOPEC legislation with anti-fossil fuel context, inserting convoluted nuance into challenging geopolitics and complex industry dynamics.
As the geopolitical battle between the US and China intensifies, the Middle East is one pivotal region in which the US is losing ground, even among its allies such as Saudi Arabia. Polls show that many Middle Easterners have little trust in the US government to protect their interests, and oil-producing countries are ignoring US demands.
At a time when oil prices are climbing to ever-higher levels,fighting OPEC's anticompetitive practices would be a welcome firststep towards reestablishing the free market in this strategicallyimportant sector.