Oil war: How US and Saudi crashed crude prices to hurt Russia, Iran, Venezuela in 2014
Geopolitical Economy Report
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Saudi Arabia's Oil in Dollars - The US Empire Protects the Gulf Monarchies
In 1971, Richard Nixon took the dollar off of gold. The US and Saudi Arabia made an agreement that Saudi Arabia would sell its oil in dollars. This enables Saudi Arabia to act as a swing producer,. Making more or less oil in order to affect global oil prices while still making a profit. Now with the new crown prince, de facto leader Mohammed bin Salman, he has been trying to play China and Russia against the US.
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