Petrodollar Collapse: What Happens When Oil Drops the Dollar: Energy, Currency Power, and the Unraveling of a Fifty-Year Arrangement

In 1974, the United States and Saudi Arabia struck an arrangement that would quietly govern the global economy for half a century: oil would be priced and sold in dollars, and in exchange, Washington would guarantee Gulf security. The petrodollar system was never formalized in a treaty, never voted on by any legislature, and never explained to the billions of people whose lives it shaped. It simply became the architecture beneath everything.

This book examines what happens when that architec...