US Petrodollars: Economic Crash Imminent?
In the same time period during which the price of oil has gone up in terms of the dollar, it has remained stable in terms of the EURO. This has prompted speculation that OPEC will change from denominating all sales of oil in the dollar to other, more attractive currencies, like the EURO, which would be disastrous for the US economy and the dollar as world reserve currency.
October 26, 2004