FAST FIVE: Forget The Hype, Aramco Shares May Be Valued At Zero Next Year
Nobody from the Saudi side seemed to have twigged to the fact that there was a major legal issue in this context from both the US and UK perspective as both have anti-trust (or anti-monopoly) regulations with real practical bite.
With Aramco being the key instrument used to manage the oil market by the Saudis, even though it is not directly involved in making the policy, the anti-trust legislation of the US and UK can point to Aramco as being collusive in price-fixing through adjusting output to manage oil prices.
Conversely, once the Bill is enacted, if Aramco did abide by the anti-trust regulations then Saudi would have to give up its role at the head of OPEC, which clearly it would not wish to do.
Up until just earlier this year, the bill was progressing at a pace through the US system and has come very close indeed to being passed into law before.
Trump's response to this was that Saudi Crown Prince Mohammad Bin Salman Al Saud: “Vehemently denies having ordered the assassination of Khashoggi.” This was despite the US's own CIA concluding the opposite, as mentioned.