Wednesday, March 9, 2016

Saudi Arabia’s gambit to force down oil prices may lead to Russia becoming the new head of global cartel

Since the early 1970’s, the U.S. has relied upon Saudi Arabia’s place at the head of the global oil market to protect the dollar and its position as the global reserve currency.  But what would happen to the dollar, and America’s future if a different nation wrested control from the House of Saud?
That question may actually be coming upon us very soon as a paradigm shift is quickly taking place in the aftermath of Saudi Arabia’s gambit to force out other oil producers by driving down the price of oil.  And in Washington’s biggest fear realized, the country that may soon seize control over the global oil cartel is none other than Russia.


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