Harold Hamm Calls Saudi Oil Move Illegal

The transcript discusses potential government actions to support the oil industry, such as buying oil for the Strategic Petroleum Reserve and lowering royalty rates. It highlights the Saudi Arabia and Russia oil market dispute, which led to a significant drop in oil prices. The Domestic Energy Producers Alliance plans to investigate anti-dumping practices, which could lead to countervailing duties on imports. The impact of low oil prices on the industry is also discussed, along with historical instances of similar market manipulations.

What measures could be taken if dumping is proven in the oil market?

How did the situation in 1998-1999 relate to the current oil market issues?