Here on the west coast we are aching to dig in and get gardening. Normally at this time of year we are watching our …
– 288 pages
6 Inches × 9 Inches (w × h)
Weight: 465 Grams
BISAC: POLITICAL SCIENCE / Public Policy / Environmental Policy
Publisher: New Society Publishers
Pub. Date: 2005-05-01
Oil, Iraq and the Future of the Dollar
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.
You might also enjoy
New Society Publishers have decided to sell their ebooks without copy protection or DRM (Digital Rights Management) so that customers can enjoy full use of their ebook purchase. In return we expect our customers to respect this decision.
By clicking in the box below, you agree that you will:
- NOT make illegal or unauthorized copies of our ebooks.
- ONLY make copies of our ebooks for backup purposes.
- NOT sell or give copies of our ebooks to family, friends, associates, etc., or upload to any file-sharing sites.
Our ebooks are available in PDF or EPUB format.
Please choose the correct format for your device.