LBO 105 (was Re: [lbo-talk] Hummers (LBO 104))

martin schiller mschiller at pobox.com
Tue May 13 07:40:16 PDT 2003


a msg from itschris13 at hotmail.com on 5/12/03 11:36 PM included ...


>>Speaking of the euro, thereís a theory circulating on
>>the net that the U.S. went to war because Iraq wanted
>>to price its oil in euros, not dollars. Thatís grossly
>>overheated speculation. More on this and related
>>issues when LBO begins an investigation of the
>>political economy of oil in the next issue.
>
>---
>This is a common opinion in Russia.

I would say that it's a fairly widely held popular opinion in the US. It certainly meets little resistance rhetorically when presented as an argument. It makes sense and gives a theoretical basis for the perception of 'big oil' resistance to Iraq invasion. They would not be injured by a 'diverse portfolio' of currencies.



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