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Deepak Lal: Geopolitics of oil and the dollar

With the shale oil revolution and the end of the petrodollar, the US is set to hit its enemies where it hurts the most - in their pockets

Deepak Lal 

Deepak Lal Ever since Saudi Arabia unleashed the "oil weapon" after the 1973 Yom Kippur war and seriously damaged the US economy, I have always wondered why it did not take over the Saudi oilfields by force? A financial newsletter which has just come across my desk provides the answer. Its editor, Jim Rickards, in an article ("R.I.P. the petrodollar", Strategic Intelligence, August 2016) discloses that in February 1974, he was asked by Robert Tucker, the head of the American Foreign Policy Institute, to join him and four other foreign policy experts for a meeting with Henry ...

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