Timothy Noah
Timothy Noah
Staff writer, New Republic. (Third tour!) Author, The Great Divergence. Prev. Politico, Slate, WSJ. Email: tnoah@tnr.com.Source
Washington, DC
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We Should Have Busted OPEC While We Had the Chance

We Should Have Busted OPEC While We Had the Chance

Gasoline is priced at nearly $5 per gallon because after Russia invaded Ukraine the United States banned imports of Russian oil and the European Union imposed a partial import ban. The U.S. and its European allies are now weighing the creation of a buyer’s cartel against Russian oil sold elsewhere. The cartel would cap the price of Russian oil by directing companies that insure shipments of Russian oil, nearly all of which are in the U.S. or the EU, to refuse coverage to shipments of oil priced above the cap. Also under consideration is a scheme to punish countries that purchase oil above...

Jun 10
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