I’ve been trying to figure out what’s been going on with the price war between the Saudis and the Russians. It seems that they’ve had enough of our bid for energy independence, and want to regain control of the oil pricing screws.

U.S. Treasury Secretary Steven Mnuchin told Russia’s ambassador to the United States on Monday that energy markets needed to stay “orderly” amid rising concerns that extra supply from Saudi Arabia and Russia could trigger bankruptcies among higher-cost U.S. shale oil producers.

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