if there is no oil
there is no petrodollar
Russia can have it
since its a empty desert filled with inbred arabs

Fun fact: It was Kim Philby's father who helped get the House of Saud into power

That is not how the elites of nation-states think

not even russia would want that shithole

They already lost a bit of leverage because America has become a bit more independent on oil

Their desire to control is insatiable

^

@vexmasina44 I don't know how much I actually buy the petrodollar arguments

The great game

I mean, the British Empire and the Russian Empire fought to get Afghanistan of all places

opium

The petro-dollar as its described is dying anyways. Given the lack of action to save it from compeditors I dont think it factors much

@McFansy its important since america is the source of dollar
petrodallar ensures there will be ademand for the dollar and the inflation will be low

what developed economy has high inflation?

That just comes from being the world reserve currency though

Any nation today could do it if their currency became dominent.

let me keep it this way
if there si no petrodollar
there would either be petroruble or petroyuan
it would be invaluable asset for states

US T-bills (treasury debt bonds) are still used heavily around the world as a safeguard

Petro doesnt run the world the way it used to

Crude is to easy to get nowadays and alternatives are becoming commonplace

it does
otherwise america wouldnt give a shit about straight of hormuz

They dont

@vexmasina44 it still cares about the overall price of oil

Its a geopolitical tool

Geopolitical tools are always important

Global Empires need to keep themselves alive you know

America doesnt rely upon the strait to get its oil

Idk about you but control over trade routes will always be useful

not just cause of oil

@Despot Romanicus the Enslaver don't disagree but the petrodollar argument was always a bit off to me.

The strait only matters for oil not for trade

General trade bypasses it

China controlling the south china sea is an infinately more important problem for the US

why would america bomb libya just after they pushed for the gold dinar
why would america invade iraq just after they announced that they would trade oil in euros

@vexmasina44 a little country in the middle east with no friends?

Geopolitical adventurism

More Power is always a good reason

Libya wasnt going to upend the economic model of the world

Saddam launched SCUDs at it

cause they hate brown people?

If you can take it with minimal adverse consequences for you, why not