Shifting energy industry transforms geopolitics for Saudi Arabia

The New York Times reports that the changing nature of the energy industry, including the oil production boom in American shale fields, the persistence of lower crude prices and the rise of natural gas, has “transformed the geopolitical equation” for Saudi Arabia. The newspaper says the Saudis must compensate for their lost oil revenue, while the United States, China and Russia are “all circling in hopes of gaining a financial advantage.” The Times says Russia is moving to embrace Saudi Arabia for energy deals; China is seeking a stable flow of Saudi oil and investment dollars; and the United States is “willing to overlook those flirtations in the hope that Saudi Arabia will continue to be a strategic bulwark against Iran.” For more, read the full story.

Global, National