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How Petrodollar’s Collapse and the Collapse of Petrodollars Could Trigger an Economic Collapse

How Petrodollar’s Collapse and the Collapse of Petrodollars Could Trigger an Economic Collapse

“The dollar is the best currency in the world,” the founder of the oil giant Exxon Mobil once told a group of investors.

But now that the world has become more and more dependent on a petrodollar, that sentiment is becoming more and less credible.

“Petrodollarization,” as it’s now known, is a concept in which the United States has become increasingly dependent on oil exports, which in turn has fueled a rapid rise in the value of the dollar.

“There’s an economic crisis and a political crisis, a military crisis and the petrodollarity crisis,” former CIA analyst Matt Taibbi wrote recently.

“In short, this is a crisis of the status quo.”

Petrodolls have always been a major issue for the United Nations, which controls a huge amount of oil revenue.

In recent months, however, the US has increasingly focused on the issue of sanctions.

That has led to the adoption of new sanctions bills in Congress, which could soon include an attempt to impose an oil-price freeze.

The petrodolls are not just a geopolitical headache for Washington.

They’re also a huge drain on the global economy.

According to data from the International Monetary Fund, oil imports from the US in 2018 totaled $10.2 trillion, while exports totaled $2.2 Trillion.

That’s more than the combined annual spending by all OECD countries, including the UK and France, which spent less than $1 Trillion combined in 2018.

“The price of oil is a key determinant of global economic activity,” said Nicholas Stern, the IMF’s chief economist, in a statement.

“When oil prices are low, US oil consumption increases, which reduces demand for other products.

When prices are high, US exports decrease, which leads to lower demand for those products.”

The petro-dollar has helped push the world economy into a tailspin.

The oil industry, which relies heavily on petrodoodles to pay its bills, has already suffered from a shortage of capital and equipment.

That hasn’t helped much with the US economy either, as its economy shrank 1.7% last year, according to data released by the US Bureau of Economic Analysis.

“We’re running into some pretty big problems,” one of the top oil executives told Business Insider.

“Oil has become such a very sticky instrument of international finance.”

As of this week, the value, or price, of the US dollar had dropped by almost 20% in the last six months, according the Bank for International Settlements.

“This is a huge problem for the US,” Taibbbi said.

“Its the biggest problem.”

This is why Trump has been pushing for a “trade war” with China, which, as Taibbs point out, already has some of the world’s most aggressive trade policies, including currency manipulation.

“I think the petrodollar, as it has come to be known, represents the biggest geopolitical headache the world is facing,” Taigbbi added.

“It’s the one currency that makes the US appear like a superpower, but the truth is, the petros have been one of its biggest losers.”

In the long term, Taibs worries are only exacerbated by the rise of alternative currencies.

The idea of petro dollars being used to buy foreign goods, or to circumvent international tariffs, could eventually make a lot of people question whether the petrogolands money has any real value, and how it’s being used in the first place.

“That’s going to be a very interesting moment, because that’s when the US is going to find itself in a situation where it can no longer continue to be the superpower it is,” Taibi said.

The US Treasury Department did not immediately respond to Business Insider’s request for comment on the possibility of a trade war.

Taibbian says the real crisis facing the world isn’t the petroe dollars themselves, but what they’re going to do to the rest of the economy.

“What you have now is a petro dollar that’s essentially a floating currency,” he said.

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