Peter Berkowitz: …this is not just a matter of how much money they accumulate and our dependence on their nearly 25% of the world’s proven oil reserves. The international economy grinds to a halt if the flow of Saudi oil stops. That means China, that means India, that means Japan, that means Europe. It’s not because 17% or so of our energy comes from there. It’s because Saudi Arabia holds the world hostage.
Oil is power. Today on Uncommon Knowledge, Victor Hanson and Peter Berkowitz explain Saudi behavior and how they get away with it.