The Deep State Strategy: Burn Everyone Else’s Oil First, Leave Ours in the Ground
The U.S. Deep State is in favor of Saudi Arabia’s strategy of forcing production cuts on its rivals and marginal producers for two profound reasons.
It is widely presumed that if the U.S. government isn’t actively concerned about the financial carnage being visited upon the domestic oil/gas sector, it should be actively concerned for self-evident reasons. These self-evident reasons include lay-offs, cratering profits and a mountain of shale-oil based debt that is in danger of default as revenues fall off a cliff.
The political class that must be re-elected to retain power is obligated to publicly express concern about the negative impact on employment, profits and domestic production. Whether the political class can do anything about the lay-offs and decline in oil/gas revenues is another thing.
But we should also keep our eye on the political system which retains power regardless of which party or politico is in office: the Deep State.The Deep State exists to maintain the essential infrastructure of global power and domestic stability. Its class of officials are paid to take the long view and consider the chessboard not from the point of view of winning re-election in two or four years but on what might unfold in the decades ahead that would challenge U.S. supremacy and the stability of the current world system and domestic economy.
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