Saudi Arabia has declared that Trump is endangering the global economy through his promises to make America energy independent. They claim that blocking Middle Eastern oil imports will destabilize the market by removing one of the world’s largest players.
Throughout his campaign, Donald Trump has promised to move US energy interests away from “our foes and the oil cartels,” referring to the terrorist funding criminal enterprise known as the Organization of Petroleum Exporting Countries (OPEC). Among this organization, Saudi Arabia is the largest producer of oil and is considered the informal leader.
Khalid al-Falih, chairman of Aramco and Saudi Aramco Oil Minister, is reported as saying:
“At his heart President-elect Trump will see the benefits and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy,”
Although the US receives most of its energy from domestic suppliers and Canada, Saudi Arabia is the largest Middle Eastern seller that the US does business with.Al-Falih further said that the current system in place benefits the United States by generating a refining industry and the shale revolution.
“The U.S. is sort of the flag-bearer for capitalism and free markets,” according to Al-Falih. “The U.S. continues to be a very important part of a global industry that is interconnected, that is dealing with a fungible commodity which is crude oil. So having equalization through free trade is very healthy for oil.”
Another of Trump’s controversial positions is that America should have taken the oil fields from the Middle East to pay for the war in Iraq. However, critics say that America shouldn’t have to put boots on the ground for oil, and should step away from the Middle East
What do you think? What’s the best way to move forward?
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