Romeo Full StaffEconomy / Finance

The U.S. Petrodollar won’t Exist in 5 Years, here’s Why


Investing Future Nov 26, 2022 Petrodollars are just U.S. dollars that an oil exporter accepts as payment; they are not separate currencies. Petrodollars are the proceeds from the export of crude oil. The phrase became popular in the middle of the 1970s, when rising oil prices led to significant trade and current account profits for nations that exported oil. The U.S. dollar was and is by far the most extensively used currency, oil sales and the associated current account profits were both expressed in dollars back then as they are now. This does not mean oil cannot be traded in…

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