{"id":28544,"date":"2017-12-04T12:27:28","date_gmt":"2017-12-04T17:27:28","guid":{"rendered":"http:\/\/olduvai.ca\/?p=28544"},"modified":"2017-12-04T12:27:28","modified_gmt":"2017-12-04T17:27:28","slug":"the-man-behind-the-oil-price-rally","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=28544","title":{"rendered":"The Man Behind The Oil Price Rally"},"content":{"rendered":"<h3><a href=\"https:\/\/oilprice.com\/Energy\/Oil-Prices\/The-Man-Behind-The-Oil-Price-Rally.html\">The Man Behind The Oil Price Rally<\/a><\/h3>\n<picture><img decoding=\"async\" class=\"singleArticle__articleImage\" title=\"MBS\" src=\"https:\/\/d32r1sh890xpii.cloudfront.net\/article\/718x300\/a4c0dd05943ae83694e69e0c83973229.jpg\" alt=\"MBS\" \/><\/picture>\n<div id=\"article-content\" class=\"wysiwyg clear\">\n<p>The OPEC meeting is over and the cartel <a href=\"https:\/\/oilprice.com\/Energy\/Crude-Oil\/BREAKING-OPEC-Agrees-To-9-Month-Extension-Of-Oil-Production-Deal.html\">has extended production cuts<\/a> throughout 2018. The decision is obviously crucial to supporting oil prices, but perhaps an even bigger story is the relentless strategy from the young Saudi Prince, Mohammed bin Salman, being played out both inside OPEC and in his own country. And oil is the key to it all.<\/p>\n<p>Last Sunday premiered the newly formed Islamic <a href=\"http:\/\/gulfnews.com\/news\/gulf\/saudi-arabia\/saudi-crown-prince-opens-mega-anti-terror-meeting-in-riyadh-1.2130488\">anti-terrorism coalition<\/a>, putting together leaders from Sunni Arab nations to denounce and combat fundamentalist terrorism throughout the Middle East and the world. It was another bold initiative towards the West of the young and energetic Crown Prince of Saudi Arabia, coming on the heels of other bold moves that have looked to consolidate political and religious power in the Kingdom.<\/p>\n<p>Together, all of these initiatives couldn\u2019t be more transparent. They represent a movement of the most economically powerful nation in OPEC towards social, cultural and economic change, the realization of the <a href=\"http:\/\/vision2030.gov.sa\/en\">Saudi \u201cVision 2030\u201d<\/a>. It is a top-down Arab Spring movement that likely has a better chance of success than the populist movements that resulted in more chaos than change in 2010.<\/p>\n<p>However, the ultimate success for Vision 2030 will rely upon achieving the main economic goal of this revolution \u2013 the divestiture of Saudi Arabia from the singularity of oil revenues. Because we know that ultimately money \u2013 and lots of it \u2013 will be needed to drive the engines for change, we get a far better picture of just how important these latest production extensions agreed to in Vienna were for the young Prince.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Man Behind The Oil Price Rally The OPEC meeting is over and the cartel has extended production cuts throughout 2018. The decision is obviously crucial to supporting oil prices, but perhaps an even bigger story is the relentless strategy from the young Saudi Prince, Mohammed bin Salman, being played out both inside OPEC and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[17336,11708,592,5332,600],"class_list":["post-28544","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-dan-dicker","tag-mohammed-bin-salman","tag-oil-price","tag-oilprice-com","tag-opec"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28544"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28544\/revisions"}],"predecessor-version":[{"id":28545,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/28544\/revisions\/28545"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}