Oil and Soudy Arabia

Soudy arabia, more than any single country, controls the price of oil. They have lots of it, and it's cheap for them to turn the taps on and off. Soudi bond has endured for almost a we need to go back to how it began. In 19 38, american oilmen offered saudi king ibna saud 170 thousand dollars in gold to let them drill froil. The soudies have usually behaved responsibly in their role as the central bankers of oil. That fear always hung like ta sword of damocles.