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Look, every single energy crisis has been caused by the Saudis cutting production. The last energy crisis ended in 1986 when the Saudis increased production, leading to low prices that culminated in $10 a barrel oil in 1998.
So you know the Saudis cut production by 1M barrel per day last year. But you still think the runnup in prices is from "speculators"?
Look at OPEC and the national oil companies (NOT the multinationals like BP or Exxon, but the state owned oil companies like Saudi Aramco, etc.)
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