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Venezuela Switches To Euros For Oil

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posted on Mar, 16 2008 @ 04:47 PM
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Venezuela Switches To Euros For Oil


www.rense.com

CARACAS (AFP) - Venezuelan state oil giant PDVSA has decided to sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials.

"There are some contracts in euros, contracts for crude, products and spot markets in euros. This is a subject which we are working on," said energy minister and Petroleos de Venezuela (PDVSA) chief, Rafael Ramirez, in an interview with the journal El Universal published Friday.

It remained unclear which oil sales would require payment in euros.
(visit the link for the full news article)




posted on Mar, 16 2008 @ 04:47 PM
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This is hard stuff... Who needs US Dolars in their currency when you can make your deals with much more stable own currency or with Euro, the golden currency?

I am glad that I dont own a single dollar in my pocket. If I do, I would sell it tomorrow morning...

www.rense.com
(visit the link for the full news article)



posted on Mar, 16 2008 @ 04:49 PM
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It has to come because the falling US dollar is destabilising other western nations.

Given US gold reserves I am surprised USA does not switch from backing the US dollar against petrol and going back to backing with Gold ?

Back in the early 1990s Russia flooded the world market with Gold to restore the Russian economy.






[edit on 16-3-2008 by sy.gunson]



posted on Mar, 16 2008 @ 04:49 PM
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reply to post by JanusFIN
 


Ah so this is why Bushie is calling Venezuela a 'rogue state.' He's worried about the devalued dollar and the oil dollars going Euro.

Good for Venezuela. They deserve some props.



posted on Mar, 16 2008 @ 05:15 PM
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reply to post by biggie smalls
 


Yeah, easy to see the connection.

Defending Dollar hegemony is the reason to acts, so many times before and now again. But sending troops to protect your privat owned FED, that for me a very bad motivation... And they know it too. Thats why they give all these lies.

Asking questions, following the money and finding the answers.

# Its not important to follow the money trials, find the funders of 911...
( Official statement to the question, was it in public 911 hearing? )

Im also with these "rogue" states: Long live the rEVOLution!



posted on Mar, 16 2008 @ 05:20 PM
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Paulson Says He'll `Do What It Takes' to Calm Markets

By Brendan Murray

March 16 (Bloomberg) -- Treasury Secretary Henry Paulson, defending the bailout of Bear Stearns Cos., said policy makers will do whatever is needed to prevent disruptions in financial markets from hurting the economy.

``The government is prepared to do what it takes to maintain the stability of our financial system,'' Paulson told the ``Fox News Sunday'' television program in Washington today. ``Our focus, our No. 1 priority, is the stability of our financial system.''

www.bloomberg.com...

Its so good that USA has also most weapons...



posted on Mar, 16 2008 @ 05:29 PM
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Venezuelan state oil giant PDVSA has decided to sign some oil contracts in euros in the face of a plummeting dollar, local media reported, citing officials.


key word being "some" not all contracts, probably all European contracts.

This is not political at all and has nothing to do with US relations. OPEC is planning a switch too. Why trade in a declining currency? Its basic economics.



posted on Mar, 16 2008 @ 05:31 PM
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OPEC may switch to euro



DUBAI (Reuters) - OPEC may abandon the dollar for pricing oil and adopt the euro but any such switch will "take time", OPEC Secretary-General Abdullah al-Badri was quoted as saying by a weekly magazine.

A decline in the dollar has eroded oil exporters' purchasing power, prompting some members of the Organization of the Petroleum Exporting Countries to call for a switch away from the U.S. currency.

Please visit the link provided for the complete story.


Source



posted on Mar, 17 2008 @ 07:25 PM
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reply to post by JanusFIN
 


Venezuela dislikes its local and international banks controlled by American
policies.

EU is going to love the V.

ED: As long as US Armed Forces accept USD we will be OK.
Course they have to even when payed off in SB Anthony coins.


[edit on 3/17/2008 by TeslaandLyne]



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