>>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.