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The Crude Poker Game

Catalogue Number:  A173-041
Producer:  CinéFête
Producers:  Antipode
Subject:  Business Studies, Politics
Language:  English
Grade Level:  9 - 12, Post Secondary
Copyright Year:  2018
Running Time:  54:00

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At the end of 2013, the price of a barrel of oil started to fall and within two years it had lost 70% of its value. This downturn in oil could have been just one more event in the story of oil prices, but it also revealed an incredible scenario. By becoming the planet’s largest producer of the black gold because of their shale oil, the United States overturned the world order in oil that had prevailed since the Second World War. In a major strategic change, the Americans were no longer dependent on oil from their Saudi allies, who had come under suspicion following the September 11 attacks of 2001. To counter this power grab, Saudi Arabia engaged in a game of poker by producing surplus oil in order to drive the price of a barrel as low as possible and bring off a triple coup: ruin the American shale oil industry and weaken its worst enemies, Russia and Iran...?

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