“There is no reason to pay for oil in dollars,” he said. He said the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency.
US hegemony on the sale of oil around the world in USD has propelled the “green back” as the world’s reserve currency and provides the source of value that makes the dollar the backbone of international trade settlement.
So to have a European ally come out an announce that an alternative to transacting oil in anything other than dollars will be sure to raise some eyebrows and garner much attention from the US government but the oil cartels themselves.
Well in an ironic and oddly coincidental turn of fate Mr. de Margerie met his demise today described in the following from RT
The CEO of France’s oil and gas giant Total, Christophe de Margerie, was reportedly among five people killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snowplow on take-off.
Total’s chairman and CEO was the only passenger in the Falcon 50 business jet besides three crewmembers, LifeNews cited a source as saying. Another source confirmed to TASS that de Margerie was the only passenger who checked in for the private flight to Paris, adding that the 3 crewmembers were also French citizens.
“A criminal investigation has been opened into the violation of safety regulations after a light aircraft crash in the capital’s Vnukovo airport,” transport official Tatyana Morozova told RIA.
Also on the totally coincidental front…………………..
Despite Western-imposed sanctions on Russia that prohibit western financing and technology transfer to some Russian energy projects, Total is continuing to pursue a natural gas project in Yamal, a joint venture with Russia’s Novatek and China’s CNPC.
“Can we live without Russian gas in Europe? The answer is no. Are there any reasons to live without it? I think – and I’m not defending the interests of Total in Russia – it is a no,” the Total boss told Reuters back in summer.
No one on board but the CEO and three other French crew members after a meeting in Moscow about who knows what hits a snowplow on take off…………………bad luck I’d say. or a message, but that is just my conspiratorial mind at work, because planes run into snowplows ALL the time huh……….oh the driver of the snowplow name hasn’t and most likely won’t be released.
One last nugget, Total has long been assumed to be helping the Iranians move their sanctioned oil onto the open market…………….but shhhhhhhhhhhhhhhhh! don’t want the Saudi’s to find out they might run the price of oil through the floor in order to weaken the ever growing Iranian economy.