OIL PRICE CRASH CONFRONTS THE US WITH DEEPENING DILEMMA

Despite all the ostensible rejoicing over lower oil prices in the non-energy sectors of the US economy, it is increasingly clear that the oil price crash is confronting the US Government with a deepening policy dilemma, which is not going to just fade away.

In blunt terms, the original oil objective of the Reagan administration might be described as follows: to break the power of OPEC and encourage a sharp drop in the price of oil,...