Rationale for the bill
The bill has nothing to do with the Saudi miserable human rights record or war in Yemen but would punish the kingdom for the low price of oil and its failure to cut oil production even more. The low price of Saudi oil makes US oil noncompetitive The situation ls particularly negative for Louisiana which is a producer of oil. .
Bill would also place tariffs on imports of Saudi oil
Within ten days of the bill being enacted a tariff would be placed on imports of oil from the kingdom to ensure that the price of Saudi oil would not be less than $40 a barrel.
This is the second anti-Saudi resolution introduced in the US Senate that relates to oil prices. While neither is likely to pass at present they indicate the frustration by US lawmakers as Saudi policies conflict with US interests.
Cassidy bill faces uphill battle
The Cassidy bill still has to pass not only the Senate but the House of Representatives as well. It then has to be signed by President Donald Trump who may want to remain on good terms with the Saudis. It is unlikely to become a law. The Cassidy bill does not cover US Patriot missiles or THAAD deployments. There is no date set for the bill to be taken up even by the Senate which will not be in session until at least April 20 and may not meet even then because of the COVID-19 pandemic.
Saudi ceasefire in Yemen
In other Saudi news the Saudi coalition’s unilateral ceasefire in Yemen took effect and violence is slowing. However, the Houthis have denied that there is a complete ceasefire as the Saudis announced. The Houthis claim that the Saudis are still using their military to enforce a nation-wide naval blockade. As long as the blockade continues the Houthis do not consider that there is a complete ceasefire.
