Has anyone ever quantified the benefit the U.S. supposedly gets from dollar denominated oil? How does that compare to the cost to the U.S. of paying cartel pricing for oil? Given that the U.S. is a huge oil consumer, surely the cost to it of cartel pricing in oil is huge.
If there is benefit it is small. It is mostly symbolic - petrodolar is a symbol of a power and people react to it.
It's kind of unfair.
If they can recoup some of those losses selling outside the system in Chinese currency, (or even in US currency), I have to imagine that would provide some ameliorative relief. It won't make them whole. They've got a lot of problems right now. But I mean, at least it starts them filling back in the giant hole that everyone else dug for them.
On the other hand, from the longer term point of view, it looks like big part of the business model of UAE/Dubai (a safe, luxury place for rich) has been shattered and I don't see it coming back.
In the short term, they might want extra revenue, but in the long term, creating extra tensions with their neighbour can't be good.
I mean, I don’t even know if I mean this sarcastically anymore, but are we sure that Trump and the US’ interests are aligned? I think something can be a win for Trump and a loss for the USA.
In fact, it may even be possible for this to be more in line with the vision of people who did not vote for Trump than the people who voted for him.
If you look at presidents historically, there are some occasions where the vision they described during the campaign to get votes is not in fact the vision they bring about while governing.
Also - what is your presumption of what my vision of the USA might be?
Whether he finds the overall effects positive or negative is a different question.