Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse

by William R. Clark

'Operation Iraqi Freedom' was a war designed to install a pro-U.S.
government in Iraq, establish multiple U.S military bases before the onset
of global Peak Oil, and to reconvert Iraq back to petrodollars" ...

Concerning Iran, recent articles have revealed active Pentagon planning for
operations against its suspected nuclear facilities. While the publicly
stated reasons for any such overt action will be premised as a consequence
of Iran's nuclear ambitions, there are again unspoken macroeconomic drivers
underlying the second stage of petrodollar warfare ­ Iran's upcoming oil
bourse. (The word bourse refers to a stock exchange for securities trading,
and is derived from the French stock exchange in Paris, the Federation
Internationale des Bourses de Valeurs.)

In essence, Iran is about to commit a far greater "offense" than Saddam
Hussein's conversion to the euro for Iraq's oil exports in the fall of 2000.
Beginning in March 2006, the Tehran government has plans to begin competing
with New York's NYMEX and London's IPE with respect to international oil
trades ­ using a euro-based international oil-trading mechanism.[7] The
proposed Iranian oil bourse signifies that without some sort of US
intervention, the euro is going to establish a firm foothold in the
international oil trade. Given U.S. debt levels and the stated
neoconservative project of U.S. global domination, Tehran's objective
constitutes an obvious encroachment on dollar supremacy in the crucial
international oil market.

From the autumn of 2004 through August 2005, numerous leaks by concerned
Pentagon employees have revealed that the neoconservatives in Washington are
quietly ­ but actively ­ planning for a possible attack against Iran....