Petrol Dollar


Petrol Dollar, WWIII

The driving forces of United States foreign policy over recent decades has been the status of the United States dollar as the world’s dominant reserve currency and as the currency in which oil is priced. The term was coined by William R. Clark, who has written a book with the same title. The phrase oil currency wars is sometimes used with the same meaning. A petrodollar is a United States dollar earned by a country through the sale of its petroleum to another country. The term was coined in 1973 by Georgetown University economics professor, Ibrahim Oweiss, who recognized the need for a term that could describe the dollar receiving by petroleum exporting countries (OPEC) in exchange for oil. In addition to the United States petrodollar, a petrodollar can also refer to the Canadian dollar in transactions that involve the sale of Canadian oil to other nations. In 2000, Iraq converted all its oil transactions under the Oil for Food program to euros. When U.S. invaded Iraq in 2003, it returned oil sales from the euro to the USD. The Government of the Islamic Republic of Iran takes this theory as fact. As retaliation to this policy seen as neoimperialism, Iran has made an effort to create its own Iranian Oil Bourse which has sold oil in Gold, Euros, Dollars, and Japanese Yen since its opening. Critics say this revolutionary move by Iran in creating a rival market may also be one of the reasons for the ongoing energy-related US competition with Iran.

Petrol Dollar

Petrol Dollar

Pertrol Dollar


Jew’s Highjacked America

World War III

Dollar Collapse

2012

            

Message to Israel

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