The Saudi’s switch to gold for settlement, or a gold backed Yuan. Check mate.
3 Trillion barrels in the Green River Formation comes on line..
US becomes energy independent and a nett exporter of oil and gas....
Game, Set and Match to the US.
It isn’t just about oil, that’s only part of the deal. It’s also about a thing called “petrodollars” which have established the US dollar as the de facto global reserve currency. It is that defacto global reserve currency status resulting from the petrodollar arrangement between OPEC and America that has enabled us to run up a 17 trillion dollar national debt. Should that arrangement suddenly end...there will be far reaching and lasting consequences.
Oil exports are a small part of this puzzle. The status of the dollar as a reserve currency is what is at stake. Today, there is not another currency strong enough. But that could change. When that happens all of the oil in the west won’t help us.