Economic security

Richard Fisher, the head of the Dallas Federal Reserve, said "the Saudis have engineered" the oil crisis. He was speaking Wednesday at the Economic Club of New York.

"We are a huge supplier of energy. The Saudis took a while to realize what was going on," Fisher said, referring to the massive growth of the U.S. oil industry in recent years.

Fisher is the most prominent U.S. official to pin the blame largely on Saudi Arabia.

Saudi Arabia 'engineered' oil crisis: Dallas Fed chief