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Listen: US-Middle East alliances in the age of shale

Rampant oil consumption in Middle East nations is undermining their energy export economies and subsidy reform is desperately needed, Jim Krane argues in his new book "Energy Kingdoms: Oil and Political Survival in the Persian Gulf."

On this week's Capitol Crude, Krane talks about the global oil market's shifting fundamentals, the changing role of spare capacity and US-Saudi ties in the age of shale.

Krane is an energy studies fellow at Rice University's Baker Institute for Public Policy.