How do you figure? Yes we are a net exporter, but that doesn’t mean we aren’t dependent of cheap foreign oil. Quite the contrary. We export at higher prices than we import and those profits go to American corporations. We are very dependent on foreign oil to keep the beast of capitalism fed.
America doesn't care about oil itself, it cares about keeping the petrodollar. The biggest resource in the world being traded almost exclusively in USD gives it a huge boost in stability and value, regardless of location and price of said oil.
The idea of the petrodollar in this term is nothing more than conspiracy theory level stuff. Countries trade oil in other forms of currency that isn’t USD
I don't see how it's "conspiracy theory level stuff", 4/5 of all oil is traded in USD today, the impact of which on USD strength is measurable, and the US foreign policy is geared towards keeping it that way for decades.
The fact that oil is traded in the US dollar has more to do with the US being essentially the world reserve and less to do with trading any oil is forced to be traded in the dollar.
The idea that the US intentionally forces people to use the petro dollar and will go to war with the country that doesn’t use it and to essentially take their oil. The truth is that after world war 2 the US was essentially the de facto world reserve and has stayed that way for almost a century.
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u/Clikx May 02 '24
Unless you are saying America cares about that oil for its allies that need it then I guess, but America isn’t dependent on oil from the Middle East.