1/31/2006
Petrodollar Warfare
Interview With William R. Clark, Author "Petrodollar Warfare: Oil, Iraq and the Future of the Dollar"
Petrodollar Warfare discusses the crucial shift in US monetary policy during the 1970s away from the gold standard to becoming the monopoly currency for worldwide oil sales, effectively enabling the US to dominate world trade. It then analyses global Peak Oil as an additional driver of US foreign policy and the parallel growth of political fundamentalism in the current US administration. Tracking the emergence of the euro as an important challenger to dollar supremacy, the book pinpoints Hussein's November 2000 switch to selling oil for euros as the defining moment for Iraq and, perhaps - without an immediate change in governance - for the noble American experiment.
Petrodollar Warfare discusses the crucial shift in US monetary policy during the 1970s away from the gold standard to becoming the monopoly currency for worldwide oil sales, effectively enabling the US to dominate world trade. It then analyses global Peak Oil as an additional driver of US foreign policy and the parallel growth of political fundamentalism in the current US administration. Tracking the emergence of the euro as an important challenger to dollar supremacy, the book pinpoints Hussein's November 2000 switch to selling oil for euros as the defining moment for Iraq and, perhaps - without an immediate change in governance - for the noble American experiment.
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