Venezuela mulls euro oil switch, page 1

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Topic started on 22-12-2006 @ 07:01 AM by infinite

Venezuela mulls euro oil switch

Venezuela has expressed interest in an Iranian move to ask buyers to pay for oil in euros rather than US dollars.

The oil-rich nation said it planned to see if a similar scheme could be introduced to its crude exports.

Iran, the world's fourth-biggest oil producer, has already asked customers to pay for its oil in euros because of the current weakness of the dollar.

Although the dollar is the currency in which oil is usually traded, it has been falling in value against the euro.

Please visit the link provided for the complete story.

news.bbc.co.uk...

I have read numerous articles and reports that suggest that its only a matter of time before oil is traded in Euro's. I do recommend ATS members read an article about the Dollar vs Euro, its very interesting in the points that are made.

reply posted on 22-12-2006 @ 07:13 AM by FlyersFan

I have absolutely no doubt that Venezuela, and the OPEC in general will switch to Euros in the near future. This is an economic war against America IMHO. They know they can weaken the USA this way, and I'm sure they are delighting in that thought.

reply posted on 22-12-2006 @ 08:32 AM by infinite

Originally posted by FlyersFan
I have absolutely no doubt that Venezuela, and the OPEC in general will switch to Euros in the near future. This is an economic war against America IMHO. They know they can weaken the USA this way, and I'm sure they are delighting in that thought.

Excellent point

You are correct that this is probably an economic war on America because many have put forward the idea of economic attacks and the comparing it to the Soviet Union.

[edit on 22-12-2006 by infinite]

reply posted on 22-12-2006 @ 10:24 AM by Gazrok

Maybe a CIA-sponsored coup in Venezuela is in the near future? Though I doubt the current CIA leadership could effectively and covertly carry such a plan out these days....

Why do you think we've been rattling the sabers at Iran so much lately? Terrorism? please.....and Iraq was about WOMD's

It's not oil, it's not terrorism, it's the same reason for all other wars....money and power of course.

[edit on 22-12-2006 by Gazrok]

reply posted on 22-12-2006 @ 11:18 AM by FlyersFan

Originally posted by Gazrok
It's not oil, ...

I'd be even more pinpointed in this ... it is about what the oil is traded with ... euros vs dollars. It isn't about taking over oil field because we obviously gave the Kuwaitis theres back after we liberated them from Saddam.

Terrorism is involved, I have no doubt. So is the alturistic wish to liberate people from a evil tyrant (at least that's what many Americans viewed Iraq as - me included). But our government .... I'm sure oil being traded in Euros vs Dollars was definately part of the reasoning.

SIDE NOTE - Hugo Chavez is a whack. Did ya'll see this thread about him becoming ArchBishop of a state sponsored 'official' church of Venezuela?
www.abovetopsecret.com...

[edit on 12/22/2006 by FlyersFan]

reply posted on 23-12-2006 @ 02:39 AM by NumberCruncher

I hope the players in this game that wish to topple the USD realise the potential consequence of doing so !

If it all gos pear shaped and results in a World Wide Depression, Millions will die across the Third World for a starter, thats before we even talk about the destabilising effect and massive Increase in Wars.

The Middle Easterners may get there dream but they will sell Shiploads less Oil.

Anyway we get the Drift, its time to sure up old Alliances and work out whos your friends, callamity seems to be only around the corner !

reply posted on 23-12-2006 @ 10:15 PM by BitRaiser

This still has to be one of the best explanations on why this is a big deal:
Robert Newman's History of Oil
If you haven't watched it, do so. It's a great bit of expository and really puts a lot of very technical issues into terms that anyone can understand.

And I just love the bit depicting the situation in the Middle East as a slum neighborhood in the Bronx.