rule the planet, then it should take coordinated actions to prove otherwise, such as rejecting the petro-dollar
, boycotting US exports and, most effective of all, withdrawing investments from American banks.
Maybe there is no such thing as being totally independent, but enough to increase security of supply and dampen the big price spikes that sudden moves by the petro-dollar
countries can create.
The devaluation will increase fiscal capacity by boosting the amount of local currency the government receives per petro-dollar
, though we anticipate large fiscal deficits to remain in place.
The violence of petro-dollar
regimes offers the reader a global approach to the subject.
KIRKUK / Aswat al-Iraq: Kirkuk governor called to increase petro-dollar
allocations to three dollars per barrel, instead of one, according province's media director.
Another key part of the Iran-led axis, the Shi'ite cabinet of Nuri al-Maleki, has allowed to turn oil-rich Iraq into a petro-dollar
cash-cow for the Iranian theocracy, thus letting Tehran skirt many of the OECD sanctions against the latter (see rim2IrqIrnAug27-12).
Saudi Arabia, home to some of the world's largest oil and gas fields, is also expected to finalise its atomic energy plans this year in the face of fast-rising demand for electricy driven by booming petro-dollar
Iran's move is part of its efforts to move away from the hegemony of the petro-dollar
Fuel demand has been soaring in the Middle East over the last few years, thanks to a petro-dollar
fuelled economic boom and fuel subsidies, which have driven a spate of refinery expansions and new plant investments from Saudi Arabia to Bahrain.
Bahrain is considered by many banking analysts as the banking capital of the Middle East with the kingdom giving a major push to this sector with favourable regulations for off-shore banking and encouraging its use as a base for managing the Gulf's petro-dollar
funding for terrorism, particularly to Pakistan and Afghanistan, must be cut off.
The group revealed last month that it had become an unlikely beneficiary of the soaring cost of oil, with robust demand for luxury goods from oil-rich customers in oil-producing cities such as Houston and Dallas, as well as petro-dollar
regions in the Middle East.