CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar"

The end of the USD and US is in sight now. Once the dollar goes the US fails. A major reality check for Americans. Even worse for Mexico as 200m illegal Yanks cross the border looking for a free lunch and welfare. Lol. It's a funny old world.

When the 2nd largest oil company in Europe speaks one should note the tone and intent. When soft power is needed the American influence is not possible after threatening friend and foe alike and snooping on both.

Once the Saudis join the BRICS, the end of the petrodollar will come. Then what leverage will be left? The world is changing very quickly. USD dominance is waning.

Zero Hedge
By Tyler Durden
5 July 2014

The USA is fast running out of friends to support its 'exorbitant privelege'. Having alienated the Germans over NSA-eavesdropping, 'boomerang'd the Russians into de-dollarization, tariffed and quantitatively eased China into diversification, and finally 'punished' France into discussing the dollar's demise; it appears no lessor person than the CEO of Total (the world's 13th biggest oil producer and Europe's 2nd largest), believes "There is no reason to pay for oil in dollars." Clearly, based on Christophe de Margerie's comments, that we have passed peak Petrodollar.

As Reuters reports,

Oil major Total's chief executive said on Saturday the euro should have a bigger role in international trade although it was not possible to do without the U.S. dollar.

Christophe de Margerie was responding to questions about calls by French policymakers to find ways at EU level to bolster the use of the euro in international business following a record U.S. fine for BNP.

"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.

So even a major beneficiary of the status quo appears to see the end in sight for the Petrodollar.

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