Quote:
Originally Posted by Steve_A
Hi morguana,
It isn't exactly as you put it. When oil was discovered in the US back in the good old days and the Texans became rich, oil was indeed drilled for, and to some extent still is, however, the Americans decided to do something dastardly (as Dick Dastardly would do!). They dolarized international trade. What did this mean? Well it is far more easy to print US$ than to actually drill for oil, so they printed and gave the paper notes in exchange for oil that was taken from the ground in other countries. Remember in the 1970s' when the Arabs became millionaires over night?
The US has massive oil reserves in Alaska and off the south eastern coast, but is not wanting to drill for oil just yet. If it did, the price of oil would go down and make the venture more expensive as the US would have to invest in material and labour. So the US is waiting for the rest of the world to go dry and then command the worlds' oil market with its' 'strategic reserves' ie. off the coast of Cuba and Haiti and finally in Alaska.
There is an interesting article which goes into the matter much more at the following link: http://www.thirdworldtraveler.com/Ir...r_vs_euro.html
Best regards,
Steve |
i know its much more complex than my very simple answere
, the only things i have to go on is chit-chat from a coulpe of geologists and a person whom worked within the oil biz (which is about 7 years out of date
), and reading around the peak oil theory, so not an awful lot really, thanks for your time though and the link
.
also thanks folks for all of your imput too, i always enjoy learning new things
love m x