U.S. Patronage Of all the client regimes of the U.S. around the globe, the House of Saud is arguably the most important one. According to the Wall Street Journal, the traditional security arrangement with Washington is "based on the understanding that the kingdom works to stabilize global oil prices while the White House protects the ruling family's dynasty". The Kingdom is the only oil producer with excess production capacity. This means it is the only actor in the energy market that can apply any downward pressure whatsoever on the price of crude.
House of Saud
House of Saud
House of Saud
U.S. Patronage Of all the client regimes of the U.S. around the globe, the House of Saud is arguably the most important one. According to the Wall Street Journal, the traditional security arrangement with Washington is "based on the understanding that the kingdom works to stabilize global oil prices while the White House protects the ruling family's dynasty". The Kingdom is the only oil producer with excess production capacity. This means it is the only actor in the energy market that can apply any downward pressure whatsoever on the price of crude.