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mayfairmassive t1_j27vfjg wrote

Reply to comment by AadamAtomic in Saudis take control of US augmented reality company Magic Leap by MicroSofty88

Except the US doesn’t buy any oil from Saudi anymore. We export oil.

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SaltyShawarma t1_j27y4dj wrote

This is false. We import a terrific amount of oil. We also export a terrific amount. Saudi Arabia is one of our biggest suppliers. It all has to do with the type of oil.

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KruppeTheWise t1_j28ogrd wrote

And it wouldn't matter one bit if not a drop of Saudi oil ever made it to the states. While they support the petrodollar, while energy is traded using America's currency, the world props up America.

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Rain1dog t1_j28r8y8 wrote

Love that Petrodollar, thanks World!

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KruppeTheWise t1_j28w62z wrote

It's gonna be interesting to see how the hegemon survives the green transition. Maybe now we are in the information age, the world reserve currency will be used to trade microchips? I'm sure the US has no competition there....

China Raughs in South China Sea

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OniExpress t1_j29n9xn wrote

My dude, what green revolution? All evidence points out that the people actually in control of the situation intend to ride things out to an environmental apocalypse. The 1% are convinced that they can ride it out comfortably until after they or anyone they care about dies peacefully in a pile of hookers and blow.

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rubywpnmaster t1_j29ndxy wrote

Yes we outfitted our refineries back in the early 80s to move towards the production of heavy-sour which at the time seemed to be what the world would be mostly producing. All that easy to suck up light-sweet was already sucked up so the theory went.

Now our refineries like to have a decent amount of heavy sour added to their feed to operate at peak efficiency. Over the last decade fracking has started to produce just insane amounts of oil in the US. But because most of it is light sweet oil it sells for a high price internationally to countries that didn't invest so heavily into refining heavy sour.

This doesn't mean that we aren't using the oil being produced here... And there are plants being put up in LA specifically to refine the lighter oil.

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