I read this on another site and seem to remember watching a program about it on sky.
That the UK and the US invaded Iraq, because Iraq where going to start selling oil in the euro instead of the dollar, which if correct would have an impact on the American economy.
Is there any truth in this?
2007-01-05 03:12:56 · 19 answers · asked by Drop the donkey 2 in Politics & Government ➔ Other - Politics & Government
That's quite possible, but we are not likely to find out in our lifetimes.
2007-01-05 03:30:20 · answer #1 · answered by blondie 6 · 3⤊ 1⤋
If I'm not mistaken it's Iran, Venezuela and Russia who plan
to switch or at least use both for oil and gas. Pre-war Iraq had
only limited oil trading capabilities through the food-for-oil
program. So trading in Euro would have little impact on the
Dollar and thus this theory is pretty much off of the table.
Specially since the UK has no reason to stabilize the Dollar
against the Euro.
However if those switch to the Euro the Dollar will get under
some pressure. And with Iran and Venezuela that might not
only have economic reasons. Russia's mostly trading with
Europe and the asian region. It makes sense to them. Both
from a political and a financial POV. Iran and Chavez would
do it just for the cause. It doesn't really matter if they gain
much from it. What counts is that the U.S. will lose.
2007-01-05 11:36:27 · answer #2 · answered by Alex S 5 · 0⤊ 0⤋
Doubt its true. Iraq had sanctions in place and could only sell limited amounts of oil to pay for medicine and the like. Any decision like that would have a limited effect as every other oil producer would have to do the same for it to hurt any economy. In real terms the price wouldn't change and anyway America would still pay in dollars and we would still pay in pounds. Iraq was invaded to give Bush and Blair a legacy, only it hasn't gone according to plan.
To any americans the price of petrol is roughly $8 a gallon in Britain so stop whining about $3 or less.
2007-01-05 11:23:08 · answer #3 · answered by paul m 4 · 1⤊ 1⤋
This was part f an overall plan to 'knee' the Americans, and given the results this would have had on the American economy, there is every reason to think thsat the Americans would do anything to stop that.
Mind you, and looking to the Zen, when the Chinese do this, which could well happen, America will demonstrate, yet again, that it only attacks countries with no real defences.
2007-01-09 09:14:36 · answer #4 · answered by manforallseasons 4 · 0⤊ 0⤋
112, if you google the words "oil bourse" you will find a number of articles re Iran's proposals for the sale of oil. I wonder if Iran will be invaded next? The first casualty of war is the truth. Read it while you still can. Peace.
2007-01-05 16:36:07 · answer #5 · answered by overnight celebrity 5 · 1⤊ 0⤋
I never heard this however I can totally beleive it to be a possible factor for the Iraqi war. There is no doubt at all regardless how they blind us that a reason for the Iraqi war was oil. Therefore to raise this reason is not too far from a potential truth. As well as Bush wanting to finish a job his dad started.
2007-01-05 11:28:25 · answer #6 · answered by A . Z . 3 · 2⤊ 1⤋
A very interesting question - and one that is completely missing from all European newspaper headlines - I guess this answers the question. But if it were true, then we would now all know who is innocent (in terms of not doing darft stuff like that) and who is evil in today's political map of the world.
2007-01-05 11:39:24 · answer #7 · answered by profound insight 4 · 1⤊ 0⤋
Hi 112,
You are talking about the petrodollar. Basically oil is traded in dollars per barrel. If they started trading in Euros then the dollar would probably collapse making it worthless. Bye Bye US economy.
As to if that was the real reason for the invasion, well who knows?
Personally, I think Bush was just bored and wanted something to do.
2007-01-05 11:24:26 · answer #8 · answered by LYN W 5 · 2⤊ 3⤋
it wouldnt suprise me at all. i think that we (uk) and america are about the most warmongering states on the planet. i know that britain has a habit of selling arms to a country then invading them about a year later. what the hell is that all about. i think all the wars the uk has had in the past 20-30 years we have supplied the countries with the weapons that they are killing are very own soldiers with. disgusting
2007-01-05 11:22:40 · answer #9 · answered by graamkdup 2 · 2⤊ 2⤋
Sounds about right,what a bunch of morons we have running both countries
2007-01-05 17:38:49 · answer #10 · answered by Anonymous · 0⤊ 0⤋
never heard of this, but it would explain why the european nations were not so keen to back bush. the e.u. have captured twenty six countries and feed of their wealth like the roman empire used to do.
2007-01-05 11:59:50 · answer #11 · answered by trucker 5 · 2⤊ 0⤋