Saudi Arabia Ditching America for China

zekko

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I understand the sentiment, but this is not a logical argument for clinging to oil.
People use oil because it's practical, and relatively inexpensive. At least until recently - and the prices do not need to be this high. If they wanted to encourage more oil production, they could. Not many people can afford an electric car (if you can even find one).
 

EyeBRollin

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People use oil because it's practical, and relatively inexpensive. At least until recently - and the prices do not need to be this high. If they wanted to encourage more oil production, they could. Not many people can afford an electric car (if you can even find one).
Economy of scale my friend. There’s not much difference in price between an ICE vehicle and an EV. Over the life of the vehicle, the EV is significantly cheaper in total cost.
 

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SargeMaximus

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They will just take the excess dollar's out of circulation. US will just do business elsewhere.
This might be a good thing to bring some competition on the fee market
Lol. Where we gonna buy the other oil from?
 

BackInTheGame78

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Not a single country is looking to get their hands on Chinese Yuan instead of American Dollars.

Not. A. Single. One. Not even China.
 

Plinco

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Not a single country is looking to get their hands on Chinese Yuan instead of American Dollars.

Not. A. Single. One. Not even China.
There is something to be said about some countries looking for alternative monetary systems in order to get around American power, however the Chinese Yuan is the most monetary inflated currency if we are talking about major currencies. The Chinese economy is the most over leveraged and debt driven (in relative terms in their GDP) in history.
 
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