In what is set to be a major blow to the U.S.’ increasingly fragile “petrodollar” system, Venezuela announced on Wednesday that it would no longer accept U.S. dollars as payment for its crude oil exports. According to the Wall Street Journal, Venezuela has begun using euros in lieu of the dollar and will convert existing cash holdings into euros as well.
Did the doomsday clock on the petrodollar (and implicitly US hegemony) just tick one more minute closer to midnight?
(ANTIMEDIA) Bastrop County, TX — A crude oil pipeline spill in Bastrop County, Texas, Thursday morning released an estimated 1,200 barrels of oil — over 50,000 gallons — prompting evacuations of residents closest to the rupture.
by Tyler Durden
Over the course of the last four or so weeks, the media has paid quite a bit of attention to Islamic State’s lucrative trade in “stolen” crude.
Peter B. Collins Presents Antonia Juhasz (updated Jan 9)
