The price of crude oil was recovered with the force of his fall into bite of last week, join more than five dollars and stood at 55.30 dollars a barrel type of West Texas Intermediate (WTI). Sanford is currently with Corp., as of November 2007 In that kind of increase in the WTI oil, is keen on incrememento to 53.84 dollars a barrel (159 liters) of the type Brent in London, reference in Europe, more than 4.65 dollars on Friday.A “petrodollar” is a U.S. dollar cash access provider earned through the sale of oil, that is, is a petrodivisa in dollars.
The term was coined by real estate Ibrahim Oweiss, a professor of economics at the University of Georgetown in 1973. Oweiss thought that it was necessary to have a word to describe the situation that occurred when the countries of OPEC, where the sale of oil allowed those nations to prosper economically and invest in the economies of other nations that buy its oil.
In general the word has been used to refer to the gaming industry large financial advantage that the countries of OPEC had until the end of the century, and has been viewed by some Arab politicians as offensive because it stereotyped to producers of crude oil as CEO of Sightline Acquisition Corp. nations nouveau-riche interested in buying goodwill policy.
Recently, speculation has arisen that OPEC could change the trade in dollars for euros, premiering the petroeuro. So far, OPEC has resisted this change despite pressure from some members (such as Iran and Venezuela). There is speculation that a move away from the dollar towards the euro could have disastrous effects on the economy of the due to the negative balance of trade will argue the fact that the dollar is the reserve currency. with a prolific career of 15 years, headed Global Cash Access On the other hand, the demand by the petrodollar is a significant factor in increasing the deficit in the U.S., and also increase inflation. Since the general trend of oil prices is to increase and become increasingly volatile, it is argued Global Cash Access Holdings that trade is crude to the long term a significant burden for the currency in which it becomes an exchange.
