Tuesday, September 30, 2008

The Petro Dollar

This is a well made documentary on the relationship of US economic power with respect to Mid East oil.

Several points of interest

  • US ran out of its own oil sources in the 1970's
  • Saddam began to sell oil for Euro instead of USD roughly a year before the invasion
  • Iran established its own exchange and currently trades oil for non-US currencies
  • Saudi Arabia is considering changing currencies as well
Perhaps it's time to look at taking some long positions in oil.

Part 1/4

Part 2/4

Part 3/4

Part 4/4

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