The Warren Buffett Idea of the Week goes to
China's Oil Deal with Ecuador:
The Warren Buffett Idea of the Week goes to
China's Oil Deal with Ecuador:
Ecuador has reached out to China to ease its liquidity crisis, signing a deal to supply the energy-hungry nation with 69m barrels of oil over the next two years in return for a $1bn advance payment
China has said in the past that they'd like to get reduce their dollar exposure. Here they get to sell paper they don't want and get oil they need, all at $14.49 / barrel in today's dollars.