U.S. Senate Judicial Committee passed the NOPEC bill on Thursday. Washington ups the ante on former Middle East allies. The NOPEC bill could have serious consequences for OPEC as a whole, and for Saudi Arabia in specific. The passing on Thursday by a U.S. Senate committee of the ‘No Oil Producing or Exporting Cartels’ (NOPEC) bill is the surest sign yet that Washington has finally run out of patience with Saudi Arabia and with the Saudi-led Organization of the Petroleum Exporting Countries (OPEC), in their indifference to dealing with high oil prices, their continued dealings with ‘OPEC+’ key member Russia, and their ongoing drift towards the China-Russia axis of power. Washington has decided that the time might be right to up the ante on its former allies and let loose the Damoclean Sword of the NOPEC Bill if necessary, it seems. The ante is huge for Saudi Arabia, OPEC, […]