Why Gulf states find it hard to turn on the oil spigot for Biden
Oil tides have changed. Gulf states’ reluctance to help out on the Ukraine crisis is an indicator of a major shift in strategic thought tilting toward Russia and away from their longtime ally, the U.S.
For years, when prices at the pumps skyrocketed or an economic crisis loomed, American presidents knew just who to call.
Now with the Ukraine war sending oil prices to over $130 a barrel, and prospects of wider bans on Russian oil and gas threatening a global recession, Washington’s hotline to the world’s largest oil producers...