<Fear of Losing Immortality The Oil Drum On likely alternatives to conventional oil>

45 comments on Who will save us from a 2005 peak?

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flankp on November 28, 2005 - 10:23pm Permalink | Subthread | Parent | Comments top
http://english.aljazeera.net/NR/exeres/C1C0C9B3-DDA9-42E2-AE9C-B7CDBA08A6E9.htm

Aljazeera had an opinion peice on the IOB.

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Liz on November 29, 2005 - 12:14am Permalink | Subthread | Parent | Comments top
The link timed out for me.  Can you give us the gist?
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Donal on November 29, 2005 - 10:00am Permalink | Subthread | Parent | Comments top
It is primarily the US which stands to lose out from any move away from the petrodollar status quo, it is the world's largest importer of oil and a move away from invoicing oil in dollars to euros will undoubtedly have a negative effect on its economy.
Fewer nations would be willing to hold the dollar in reserve which would cause a significant devaluation and result in the loss seigniorage revenues. In addition, US energy-related companies stand to lose out as they will be unable to participate in the bourse due to the longstanding American trade embargo on Iran.
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45 comments on Who will save us from a 2005 peak?

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