The Saudi relevance

10/28/2013
Americans had every right last month to greet the 40th anniversary of the Arab oil embargo with boasts about surging production of oil and gas and about correspondingly diminished reliance by the US on supply from abroad. Those are major achievements. New supply from unconventional resources heralds the biggest changes in markets for fluid hydrocarbons since those inaugurated by the embargo. The changes can be very good for the US. But they won't disengage US interests from what some Americans still see as a symbol of antagonism from four decades ago: Saudi Arabia. The kingdom is vitally and nowadays constructively important to energy markets. And its normally circumspect leaders are sudd...
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