Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse
by William R. Clark
"A successful Iranian bourse will solidify the petroeuro as an alternative oil transaction currency, and thereby end the petrodollar's hegemonic status as the monopoly oil currency. Therefore, a graduated approach is needed to avoid precipitous U.S. economic dislocations."
Contemporary warfare has traditionally involved underlying conflicts regarding economics and resources. Today these intertwined conflicts also involve international currencies, and thus increased complexity. Current geopolitical tensions between the United States and Iran extend beyond the publicly stated concerns regarding Iran's nuclear intentions, and likely include a proposed Iranian "petroeuro" system for oil trade. Similar to the Iraq war, military operations against Iran relate to the macroeconomics of 'petrodollar recycling' and the unpublicized but real challenge to U.S. dollar supremacy from the euro as an alternative oil transaction currency. …
Contemporary warfare has traditionally involved underlying conflicts regarding economics and resources. Today these intertwined conflicts also involve international currencies, and thus increased complexity. Current geopolitical tensions between the United States and Iran extend beyond the publicly stated concerns regarding Iran's nuclear intentions, and likely include a proposed Iranian "petroeuro" system for oil trade. Similar to the Iraq war, military operations against Iran relate to the macroeconomics of 'petrodollar recycling' and the unpublicized but real challenge to U.S. dollar supremacy from the euro as an alternative oil transaction currency. …
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This report was written on Friday August 05. 2005, but as it has a powerful argument on the effects of Iranian oil bourse on the dollar we decided to publish it anyway.
This report was written on Friday August 05. 2005, but as it has a powerful argument on the effects of Iranian oil bourse on the dollar we decided to publish it anyway.
About the Author: William Clark has received two Project
Censored awards for his research on oil currency conflict, and has recently
published a book, Petrodollar Warfare: Oil, Iraq and the Future of the Dollar
(New Society Publishers, 2005). He is an Information Security Analyst, and holds
a Master of Business Administration and Master of Science in Information and
Telecommunication Systems from Johns Hopkins University. He lives near Bethesda,
Maryland. Website: http://www.petrodollarwarfare.com/
