The Organization of the Petroleum Exporting Countries, or OPEC, has had massive influence over American politics for six decades. President Biden’s "incredible" oil market trading has broken this influence. Dan Dicker joins Chris Hayes to discuss how Biden got ahead in oil production and what that means for the transition to clean energy.
That’s odd. I never heard anything like that.
That’s strange there has been talk about it for years. Russia tried to switch to Ruble, and Iran and Venezuela tried to switch away from $ USD too.
It has had near zero effect AFAIK, because nobody wants to trade in unstable currencies. Maybe Russia has been moderately successful, but at the cost of having to sell well below market prices.