For anyone who believes in the ineffable wisdom of 'free' markets, the current sinkaway oil price takes some explaining, writes James Meadway. Saudi Arabia's big gamble that it could put US shale oil out of business by over-pumping has now collided with China's falling demand for energy. Result: oil producers everywhere are swimming in red ink. Where will it all end?
… on the scale of Saudi Arabia's, it is a high-risk strategy: something like a game of …