Saudi Arabia Just Ditched The US Dollar (How This Affects You)
Instead of a signed agreement, Saudi Arabia sold its oil mostly for dollars over the years simply because most of the world wants dollars. Benefiting from a persistent bid for US dollars for decades, it was maximally profitable for the kingdom to consistently sell oil to…
Google and Amazon are now in the oil business
Google, Microsoft, and Amazon are teaming up with Big Oil to squeeze more oil and gas out of the ground using machine learning technology.
Venezuela wants to launch a cryptocurrency backed by oil
Venezuelan President Nicolas Maduro announced the launch of a cryptocurrency called the “petro” backed by oil reserves. Few specifics were given about the currency launch or how the struggling OPEC member would create the crytocurrency. Maduro said the petro will help Venezuela recover financially after…
