The war in the Middle East is about oil after all... but not in the way you think, and only partially.Iran wants oil market in Euros
It seems that Iran is trying to work the world into discounting the US Dollar by making requirements that their oil be purchased using Euros. Presently, the value of oil is globally measured in US Dollars. The U$D has been a stable monetary unit for a very long time and makes perfect sense to valuate items such as oil. The implications of debasing the US dollar are far reaching and would certainly hurt the USA in the global market. The Euro has never been used to gage the price of oil and, as a newer currency, does not have the clout or history of stability that the US dollar enjoys. That being said, there are many European countries that would LOVE to see the USA deposed as the world's financial leader - China (our ideological foe), France, Germany, Russia (working hard on their own petroleum hegemony
), and most all of the Middle East.
Funny. Those happen to be many of the same countries that dislike our "preemptive strike against terrorism".
Well, they can do that all they like and we'll just flood the market with cheap oil and become a major oil export country. We'll take back our financial leadership and plunge the Middle East into starvation and turmoil without firing a single bullet. Wouldn't it be interesting to have China dependent on the US?
Read my previous post on oil shale
But, don't be alarmed, read a detailed explanation
on why Euros for oil won't happen.