Italy’s Prime Minister Mario Draghi has suggested after a meeting with U.S. President Joe Biden this week that oil consumers unite to form a cartel with the goal of capping oil prices. Draghi visited the White House on Tuesday to discuss, among other things, the state of the energy market. According to Draghi, both he and President Biden have agreed that the current structure of the energy market isn’t working. Draghi also suggested pressuring OPEC to produce more—an idea that is not only not new, but has been attempted, both…
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