UAE announces it will leave Opec

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djscuba1012@reddit

Not good. Slowly OPEC is going to dissolve. Count on volatility. Also county on hostility between UAE and Saudi Arabia

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dittybopper_05H@reddit

Yeah, "volatility".

I remember when OPEC used oil as a weapon against the west to get what it wanted.

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weJtiddeR@reddit

Dude, just let Trump build that synagogue, oops, I mean ballroom, and then he can finally focus on getting these pesky fuel prices down!!! Otherwise he's gonna have to do it in his third term!!

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dittybopper_05H@reddit

Wait, I thought he was Adolf Hitler?

Now he's building a synagogue?

*WORST NAZI EVAR*

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Galaxaura@reddit

If you'd paid any attention to current events then you'd understand the comment.

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dittybopper_05H@reddit

I pay scrupulous attention to current events, I just don't suffer from Trump Derangement Syndrome.

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dittybopper_05H@reddit

r/weJtiddeR was implying that Trump is a puppet of Benjamin Netanyahu.

Fair enough?

Also, he sounds just like the mirror image of those Jade Helm idiots on the right who thought Barack Obama was going to declare martial law and suspend the 2016 election so he could stay in office for a third term.

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Galaxaura@reddit

The US has been a puppet of Israel for a while. That's why we give them money.

You didn't touch on the third temple.

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hot_space_pizza@reddit

Omg lol a synagogue. I can imagine it

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ImperiumStultorum@reddit

Not just any synagogue.

It is a near-sure bet that Trump offered Netanyahu his "help" with rebuilding the Temple. With faux gold leaf ornaments and everything.

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CrashingAtom@reddit

Breaking up a cartel leads to lower prices. Hello?

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LowBarometer@reddit

This is a big deal in the overall downfall of the US dollar. OPEC uses Petrodollars. UAE will be able to use whatever currency they want. That means there will be many fewer dollars to buy US debt.... nobody buying our debt means the US government will print money to buy it, which means rampant, uncontrolled inflation.

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-OooWWooO-@reddit

OPEC uses Petrodollars

Several opec states trade in non dollar currencies. The UAE has used the AED for oil payments for several years. People just type shit on this sub without having a single clue about how the world actually functions.

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Easy_Welcome_9142@reddit

It’s agenda driven. They want the perceived downfall of the US to drive an actual downfall of the US.

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CrashingAtom@reddit

Right? Absolute fucking buzzword nonsense. These children hear petrodollar on every doomer YouTube channel they watch, and just spit it back out.

If anything, this is going to benefit the U.S. because the UAE is going to sell cheaper to whoever they can. And since the U.S. provides them security, I’m guessing that’s where the cheaper oil will go.

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418Miner@reddit

the US is a net exporter of oil, so UAE petroleum will most likely not be imported to the US.

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CrashingAtom@reddit

We don’t have the oil that becomes gasoline. We have light sweet crude in the US, which we don’t use as much, which is why we ship it away for money.

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-OooWWooO-@reddit

I've come to realize they probably don't even know Iran is a member of OPEC.

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LowBarometer@reddit

Actually, according to Google, OPEC uses Petrodollars. does opec use petrodollar - Google Search

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-OooWWooO-@reddit

Iran is in OPEC and has not used the dollar to settle transactions since 2008.

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throwaway9gk0k4k569@reddit

That account is as garbage troll. It knows nothing, loudly.

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LeroyMyBoi@reddit

Is it assumed they will not trade in USD?

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Worshipme988@reddit

They are not currently directly due to the war

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LeroyMyBoi@reddit

Oh gotcha, thanks for the info. So what do they use, and will that probably continue then?

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Current_Judgment9956@reddit

one week ago - UAE Warns US It Could Sell Oil in Chinese Yuan if War Drains Dollar Supplies, Triggering Biggest Threat to the Petrodollar Since the 1970s

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Unusual_Specialist@reddit

Sounds UAE needs some freedom.

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weJtiddeR@reddit

Lol this is the most likely scenario in the next decade. Just like Lybia, Syria, Iraq, Lebanon, Iran and Afghanistan

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Successful-Memory839@reddit

You guys do realise exactly how advanced the economies in the UAE are right?

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weJtiddeR@reddit

Yes, how does that pertain to veracity of our statements. Iran is an advanced nation with an advanced economy, that doesn't mean Izzrul doesn't wanna use the U.S. to destroy them.

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random_internet_data@reddit

This is a brilliant comment.

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political-bureau@reddit

Someone predicted Nigeria will be next. They don't have a blockade & oil will skyrocket soon. Too much money to not make as much as you can.

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ARazorbacks@reddit

Are we about to see a lot of folks decide the US isn’t just unstable, but also can’t/won’t actually protect its international allies and start making a push for more autonomy?

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weJtiddeR@reddit

Yes, yes we are. It's happening slowly.

Reminder Israel was one of the first ones to start divesting from the US Dollar back in 2021 or so. That should tell you everything you need to know, why would they divest from their own vassal states dollar.

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SusanMilberger@reddit

Feeding the conspiracy theories that israel is behind all this

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jfarrar19@reddit

Honestly, I'd believe Israel would've seen it coming because of the paranoia-as-an-institution that they have going, and are taking steps to try and protect themselves

Eg they saw it first, not they caused it.

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SusanMilberger@reddit

I wouldn’t have a hard time believing that at all. Our deterioration politically hasn’t been all that under the radar.

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weJtiddeR@reddit

I dont have to do anything, Israels government feeds that themselves through their ruthless and malicious and frankly evil behavior.

Also, its not a theory if its true. Nice try though Rabbi

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SusanMilberger@reddit

Caught me out. Shomer shabbos!

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weJtiddeR@reddit

Lmao

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DieselPunkPiranha@reddit

Absolutely. US military equipment supposedly emplaced for other countries' benefit was pulled to support the war in Iran. All of the US' allies will have noticed whether it affected them personally or not.

Someone described the US as an old tiger fearful of its own deteriorating health and all the young tigers in the jungle. It's not a paper tiger. Its military is still dangerous, but far weaker than it was and declining more with every day that passes.

Like every empire in decline, expect the US to lash out with little to no provocation in an effort to prove its strength abroad and at home.

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WhileNotLurking@reddit

I think people are losing the bigger picture here and jumping to conclusions.

Leaving opec does not mean they won’t still sell in dollars
Leaving provides an opportunity for them to over supply the market, and for disagreements to result in everyone flooding the market. It actually lessens the cartels power, which itself was already waning due to U.S. production and opec observer countries
The UAE is going to be in a world of economic uncertainty after this war. Both the direct damage, but also the inevitable consequences of the loss of apparent security and safety they had built. They are trying to shore up finances for that situation.
Others are going to jockey for position here. You may see opec retaliate, or simply dissolve as everyone runs their own direction

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Ok-Secretary455@reddit

UAE stopped trading in petrodollars in like 2023

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V1ld0r_@reddit

Oil trade will continue to be largely in dollars, it won't magically move to some other currency (Euros, renminbi or Bottle Caps).

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TimberBiscuits@reddit

This move gives UAE far more control so when they eventually start selling to China/India/Europe directly they aren’t bound by US interests.

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WhileNotLurking@reddit

OPEC was never bound by U.S. interests and was designed to counter that explicitly.

Economics and soft/hard power are what are going to pressure them to use or not use USD.

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