Laeserin
· 2w
We still don't know why Trump is running this oil war. I assume it has something to do with restructuring the US economy.
The United States no longer needs Middle Eastern oil. Since 2015, American engineers have found ways to extract shale oil at a low cost. Since then, U.S. oil production has been on an upward trend, and today, in addition to meeting its domestic consumption of around 12.5 million barrels per day, the U.S. exports roughly 4.5 million barrels per day.
The Arab countries that were once close allies of the United States are now its competitors. By continuing this war, the United States could both push its competitors out of the market and weaken China’s economy, which is heavily dependent on oil from Arab countries.