3 ms·
"I have the exact same feeling/thoughts. They spend a few decades not sharing any of the oil profits ..." This is a very simplistic (and incorrect) view of the
by rsync 7y ago
"I have the exact same feeling/thoughts. They spend a few decades not sharing any of the oil profits ..."
This is a very simplistic (and incorrect) view of the economic relationship between the United States and S.A.
First, the majority of Saudi oil is sold to Europe and Asia (not the United States) but it has always been denominated in US dollars - regardless of the purchaser. This enormous demand for US dollars in global trade that need not be related to the US at all has been to our great favor.
Second, a tremendous amount of the US dollar surplus that SA generates is immediately recycled back into the hands of US industry - specifically, military industry. SA is a ready buyer of whatever new technologies our military industrial complex produces and we are paid a great sum of money for this military partnership.
You personally may not be sharing in the profits but a tremendous economic benefit is realized by the United States and her technical and military industries.
- joel_ms 7y agoLast year, the US bought more than all of Europe. Asia is still the big buyer tho https://www.washingtonpost.com/world/2019/09/16/who-buys-saudi-arabias-oil/ https://www.washingtonpost.com/world/2019/09/16/who-buys-sau...
- HenryBemis 7y agoVery simplistic because I have a few minutes. The balances and (mostly political) use of Oil in the world makes it a perfect tool for manipulation. Plus the fact that we now (as a species) can accelerate the shift to cleaner energetic sources (sun-wind-waves)(not completely, yet) means that I find it odd to give some dictators a few more billion €¥$£ because they want to continue being a dark page in human history's and they need funding to continue in their bloody isolation. For me it is the political aspect of interfacing with such "Powers". UK, USA, Russia had cause more pain and blood that anyone else in the last few centuries. I cannot forget this. But they have (mostly) cleaned up their act (some less than others). As for the military industry, allow me to believe in a "Star Trek" humanity than a 'we got bigger-better-badder guns than you' future. Arms race benefit the weapons dealers and the warmongers, not the people who get burned by the napalms. These are hugely complex discussions that are caused and causing many issues on different domains/areas. It may be too simplistic, but let's end energy dependency, let's make more schools, and education will pave the road for a better future.