What would happen to a major oil producing nation that decided to stop using the U.S. dollar?

Question

If a major oil producing country, like Libya, decided to stop trading their oil for U.S. dollars what consequences would that country's leadership face?

http://www.goldstockbull.com/articles/libya-invasion-gaddafi-plan-gold-dinar/

falsi fiable · Accepted Answer

That country would have trouble selling it oil.

? · Answer

The undesirable men own the oil agencies and administration the oil industry, what the oil producing international places sell, and the media. enormous oil tells OPEC what to do, not any incorrect way around. Oil producing international places choose for the money as undesirable or worse than you and that i choose for our income. If the oil producing international places stopped exporting oil it could be by way of fact Exxon/Mobil and the different enormous oil agencies instructed them to end exporting oil.

John E · Answer

Their leadership would soon drown in bribes to return to a policy of using dollars.

Or lead poisoning would set in quickly. Or drone poisoning.

Anonymous · Answer

They'd probably have their leadership replaced with someone who will play ball with the US, as happened with Libya.

Anonymous · Answer

Watching inflationary costs hit whatever currency they chose to replace the dollar...good luck with that !

Anonymous · Answer

http://articles.businessinsider.com/2011-03-22/entertainment/29985789_1_political-implications-zone-outgunned

gaddafi massacred civilians.

Trending News

What would happen to a major oil producing nation that decided to stop using the U.S. dollar?

6 Answers