Politics: The Flow of Oil Money

Detailed Economist article on where the oil money is flowing:

"Despite the lack of hard data, many economists are sure that a big dollop of petrodollars is going into American Treasury securities. If so, the recycling of money via bond markets could have very different effects on the world economy from the bank-mediated recycling of previous oil booms. If petrodollars not spent flow into global bond markets, they reduce bond yields and thus support consumer spending in oil-importing countries."

Source: Recycling the petrodollars in the Economist.com