Cheap oil now, high costs later

Their game plan is simple: Persuade the world that Saudi Arabia is the global ‘central bank of oil, the guarantor of supplies as a last resort’, as Mr Ronald E. Minsk, an energy expert who served in the Clinton administration, put it. Moral hazard doesn’t worry this bank. In fact, it thrives on it. The more hazard for us, the less for it. The question is: Should we trust this arrangement?

The Straits Times, Singapore