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One of the huge advantages to the US/Saudi collaboration is the pricing of oil in dollars. The supply helped for a time, and we've weaned off it a bit through f
by adamcstephens 5y ago
One of the huge advantages to the US/Saudi collaboration is the pricing of oil in dollars. The supply helped for a time, and we've weaned off it a bit through fracking, but that's a game of diminishing returns.
The worry for the US is if oil becomes priced in yuan and sold in yuan. It undermines the purchasing power of the US dollar while at the same time diminishing the effectiveness of US sanctions.
https://www.scmp.com/economy/china-economy/article/3128103/could-us-sanctions-and-closer-middle-east-ties-fuel-rise https://www.scmp.com/economy/china-economy/article/3128103/c...