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Re: Saudis opt out of opec,, good or bad? [Re: Savell] #8605656 5 hours ago 5 hours ago
Joined: Aug 2012 South Dakota R Rat Masterson trapper
Rat Masterson trapper R Joined: Aug 2012 South Dakota	Originally Posted by Savell Yuan Nope

Re: Saudis opt out of opec,, good or bad? [Re: foxkidd44] #8605661 5 hours ago 5 hours ago
Joined: May 2009 Champaign County, Ohio. K KeithC trapper
KeithC trapper K Joined: May 2009 Champaign County, Ohio.	The US is willing to destroy countries to keep the dollar the main world currency and correctly so. Keith

Re: Saudis opt out of opec,, good or bad? [Re: white17] #8605686 4 hours ago 4 hours ago
Joined: May 2019 Saskatchewan R rvsask trapper
rvsask trapper R Joined: May 2019 Saskatchewan	Originally Posted by white17 On the contrary. This move by the UAE has tied it more closely to the US and the dollar as well as to Israel. Scott Bessent was no doubt involved in this move or it would not have happened. The US and the UAE agreed on a 'swap line' ..........with the Federal reserve. That amounts to a soft sort of loan to tide the UAE over this temporary collapse in their revenues. They will also need the services of either or both HAL and/or SLB to rebuild the damage to their facilities. Not Russian or Chinese companies. Add to that the fact that the UAE has frozen Iranian assets on deposit in Emirates banks.........and it is anything BUT a move away from the dollar. The UAE is one of the best Arab militaries in the gulf and buy US and Israeli armaments. I don't think either the US or Israel will accept Yuan or anything else in payment for those arms.....maybe they could pay in oil. Short term, maybe so, but long term, look into it. They are already negotiating with Russia, China and India on accepting their local currencies. They have already accepted the Rupee in the past. I should note that it is easy to find info showing that UAE has been actively diversifying its military purchases away from reliance on the US. Last edited by rvsask; 4 hours ago.

Re: Saudis opt out of opec,, good or bad? [Re: foxkidd44] #8605714 2 hours ago 2 hours ago
Joined: Dec 2006 East-Central Wisconsin B bblwi trapper
bblwi trapper B Joined: Dec 2006 East-Central Wisconsin	The USA produces about 11-12 % of the worlds oil Saudia Arabia produces about 11% UAE produces about 5% The UAE oil does not shift world supplies or prices a whole lot, but making policy choices can shift many economic things long term. They don't have to start today. Probably makes sense for them to work with the nations that buy most of their products. Bryce

Re: Saudis opt out of opec,, good or bad? [Re: white17] #8605716 2 hours ago 2 hours ago
Joined: Jan 2008 Alaska and Washington State W waggler trapper
waggler trapper W Joined: Jan 2008 Alaska and Washington State	Originally Posted by white17 On the contrary. This move by the UAE has tied it more closely to the US and the dollar as well as to Israel. Scott Bessent was no doubt involved in this move or it would not have happened. The US and the UAE agreed on a 'swap line' ..........with the Federal reserve. That amounts to a soft sort of loan to tide the UAE over this temporary collapse in their revenues. They will also need the services of either or both HAL and/or SLB to rebuild the damage to their facilities. Not Russian or Chinese companies. Add to that the fact that the UAE has frozen Iranian assets on deposit in Emirates banks.........and it is anything BUT a move away from the dollar. The UAE is one of the best Arab militaries in the gulf and buy US and Israeli armaments. I don't think either the US or Israel will accept Yuan or anything else in payment for those arms.....maybe they could pay in oil. Interesting, if this is the case they are sort of doubling down on the type of deal the Saudis made with the US/Fed in about 1972 I think. "My life is better than your vacation"

Re: Saudis opt out of opec,, good or bad? [Re: Savell] #8605717 2 hours ago 2 hours ago
Joined: Mar 2011 williams,mn trapper les trapper
trapper les trapper Joined: Mar 2011 williams,mn	Originally Posted by Savell Yuan BRICS I’m guessing "Those who hammer their guns into plowshares will plow for those who do not."

Re: Saudis opt out of opec,, good or bad? [Re: foxkidd44] #8605721 1 hour ago 1 hour ago
Joined: Mar 2019 Southern NJ maintenanceguy trapper
maintenanceguy trapper Joined: Mar 2019 Southern NJ	Competition is good

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