A poorer OPEC no longer spreads its wealth

In the bad old days of an oil embargo and gasoline lines, Americans at least got billions of petrodollars back from the oil-rich Middle East.

That money got recycled into the United States, mostly in safe bank deposits. The banks then invested it at great risk in Latin America and elsewhere.

So this time as gasoline prices soar again…some Americans may be expecting another influx of Mideast cash. They shouldn’t. The petrodollar is losing its international clout.