Impacts - Saudi Relations - Key to US Heg Collapse of Saudi relations destroys US hegemony SHAW 2004 (Charles, Editor-in-Chief, the Greeleap,” Newtopia Magazine, Summer, | Kushal) “Make the US Dollar is the fiat currency for the world's oil and natural gas transactions The second critical issue is that the oil and natural gas purchased by the world's nations is purchased in US which means that all "petrodollars". US Because of this, most nations hold in their banks Dollar reserves equal to the value of their own currency. global hegemony is predicated on this very means of control. This arrangement for the world's energy supplies Dollar become fiat currency, was set up by the US and OPEC, to be purchased in Dollars, and by effect to have the largely because of our relationship with Saudi Arabia. If that relationship ends, through revolution or war, US hegemony ends, unless we occupy the oil fields till they run dry.
Impacts - Saudi Relations - Key to US Heg Collapse of Saudi relations destroys US hegemony SHAW 2004 (Charles, Editor-in-Chief, “Make the Greeleap,” Newtopia Magazine, Summer, | Kushal) The second critical issue is that the US Dollar is the fiat currency for the world's oil and natural gas transactions which means that all the oil and natural gas purchased by the world's nations is purchased in US "petrodollars". Because of this, most nations hold in their banks Dollar reserves equal to the value of their own currency. US global hegemony is predicated on this very means of control. This arrangement for the world's energy supplies to be purchased in Dollars, and by effect to have the Dollar become fiat currency, was set up by the US and OPEC, largely because of our relationship with Saudi Arabia. If that relationship ends, through revolution or war, US hegemony ends, unless we occupy the oil fields till they run dry.
Oil_DA___Sophomores___NDI_20122.docx