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The invasion of Iraq may well be remembered as the first oil currency war. Far from being a response to 9-11 terrorism or Iraq's alleged weapons of mass destruction, Petrodollar Warfare argues that the invasion was precipitated by two converging phenomena: the imminent peak in global oil production, and the ascendance of the euro currency.
Energy analysts agree that world oil supplies are about to peak, after which there will be a steady decline in supplies of oil. Iraq, possessing the world's second largest oil reserves, was therefore already a target of U.S. geostrategic interests. Together with the fact that Iraq had switched its oil payment currency to euros-rather than US dollars-the Bush administration's unreported aim was to prevent further OPEC momentum in favor of the euro as an alternative oil transaction currency..
Meticulously researched, Petrodollar Warfare examines U.S. dollar hegemony and the unsustainable macroeconomics of .petrodollar recycling,. pointing out that the issues underlying the Iraq war also apply to geostrategic tensions between the U.S. and other countries including the member states of the European Union (EU), Iran, Venezuela, and Russia. The author warns that without changing course, the American Experiment will end the way all empires end-with military over-extension and subsequent economic decline. He recommends the multilateral pursuit of both energy and monetary reforms within a United Nations framework to create a more balanced global energy and monetary system-thereby reducing the possibility of future oil depletion and oil currency-related warfare.
A sober call for an end to aggressive U.S. unilateralism, Petrodollar Warfare is a unique contribution to the debate about the future global political economy.
See review from Hopedance(2004-11-30)
First of all, I need to say that I'm a Republican Conservative...It is because of this that I wanted to read this book, NO, NEEDED to read it! Read morePublished 9 months ago by M. Rodriguez
The 20th century was the American century. The United States lead the world economy with invention and innovation. Read morePublished 16 months ago by Mikio Miyaki
Petrodollar operates from an unsettling thesis, that America's hegemony is based on an unstable reliance on dollar-denominated oil transactions, and that America uses military... Read morePublished on March 9, 2013 by C. Hoffmann
Couldn't get past the first chapter before I had literally through the book away. I'm an avid reader of books on the reserve currency and or petro dollar, however this book has... Read morePublished on February 7, 2013 by Ziggyz
While a bit One sided, I found the information quite illuminating. It would be nice if more people informed themselves on this subject, as well as how and why currency is valued. Read morePublished on February 3, 2010 by Brian
It is today considered no longer surprizing that fossil fuel has been used so much that the entire Industrial Revolution will be referred to as a period which was represented by a... Read morePublished on November 18, 2008 by The Hermit