Petrodollar Warfare

Update, May 21: Please read our most recent oil price research here: Dollar Inflation Raises Oil Prices, ‘Peak Oil’ a Myth

Ron Paul’s The End of Dollar Hegenomy outlines the causes and consequences of petrodollar warfare.

“…In November 2000 Saddam Hussein demanded Euros for his oil… At the first cabinet meeting with the new administration in 2001, as reported by Treasury Secretary Paul O’Neill, the major topic was how we would get rid of Saddam Hussein– though there was no evidence whatsoever he posed a threat to us…”

“…In 2001, Venezuela’s ambassador to Russia spoke of Venezuela switching to the Euro for all their oil sales. Within a year there was a coup attempt against Chavez, reportedly with assistance from our CIA…”

“…Now, a new attempt is being made against the petrodollar system. Iran, another member of the “axis of evil,” has announced her plans to initiate an oil bourse in March of this year. Guess what, the oil sales will be priced Euros, not dollars…”

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Filed under Iran, Iraq, Ron Paul

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