Trump’s Ultimate Weapon To End The Oil War

U.S. President Donald Trump is facing increasing calls from some U.S. senators and congressmen to pressure Saudi Arabia into ending the oil price war, with one of his own Republican party - Senator Kevin Cramer – last week urging him to impose an embargo on oil imports from Saudi Arabia, Russia and other OPEC nations. It is not because the U.S. shale producers cannot deal with a much lower sustained oil price environment as they can. It is because in order to cope with this environment, capital expenditure will have to be trimmed back to…