On Sky last pm - Iraq Conspiracy Pre 70's the US produced more oil than any other on the planet. Oil was bought and sold in Dollars only. This was a rather good move, as the 'funds' would eventaully sit in the US Fedreal Reserve. Then the Middle East found the black stuff and formed OPEC. Saudi was debating what currency to trade in, until Uncle Sam, said 'hey stick with the yankee dollar and we will sell you a shit load of arms and provide protection etc etc' So again, the US benefits from this, as the accounts are held in the US, effectively, a major slush fund for the US. Whilst Saddam was pissing the US about with his WMD, or lack of, the one thing that he really was annoying them with was selling Oil in Euros! All major contracts went to Russia, german and french contractors, to start work after the sanctions were lifted. Now we all know what happened, but, and this could be the scarey bit. The ****ing nutters in charge of IRAN, not only have said '**** you' to the free world by breaking the UN Nuclear agreement, they are looking at starting a new trading organisation in the ME, but trading in Euros. The US can no way afford to lose this revenue from OPEC, their economy would be really fcuked, therefore, it could spell the start of something horrid, if it has not already started. Tin Hats On?