Imagine making the world’s largest oil exporter sweat it out, even before you take office. That’s exactly what Donald Trump is doing.The president-elect has said repeatedly that the U.S. needs to block all oil imports from Saudi Arabia.
During his campaign Trump vowed to secure U.S. energy independence from “our foes and the oil cartels,” while also creating “complete American energy independence.”
However, on Wednesday, Saudi Arabia’s oil minister fired back. Khalid Al-Falih, also the chairman of Aramco, said in an interview that “at his heart President-elect Trump will see the benefits [of Saudi oil imports] and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy.”
“The U.S. is sort of the flag-bearer for capitalism and free markets,” Al-Falih added. “The U.S. continues to be a very important part of a global industry that is interconnected, that is dealing with a fungible commodity which is crude oil. So having equalization through free trade is very healthy for oil,” he said.
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