Two major energy trade developments today highlight how the Western Alliance is quickly losing a grip on the world energy market, as an alliance between China, Russia, Iran and the Middle East Gulf Cooperation Council starts to take shape with actual trade exchanges that are not in dollars.
Last year, in response to big panda’s own interest and seeking to exploit two western alliance self-created weaknesses; (1) sanctions against Russia and (2) weakened investment in LNG production; China spearheaded the Shanghai Petroleum and Natural Gas Exchange.
The exchange was aimed at group purchasing services for liquefied natural gas (LNG) though the use of the yuan to replace the dollar. Essentially, team Gray operating without the global trading system of team Yellow (map). The Shanghai exchange allows purchases of LNG portions by small and medium-sized buyers in yuan.
