| Saudi Arabia and the United States have been | | | | as the oil pricing standard may make it decline |
| friends for some time. To the average public | | | | further which is likely to hurt Saudi Arabia further. |
| within the country most Americans view Saudi | | | | The dollar has declined significantly over the past |
| Arabia as sponsors of terror citing the countries | | | | few years. This decline is up to 15% against the |
| Muslim background. However, Saudi Arabia | | | | Euro in the past 12 months alone. As the dollar |
| regularly supports the United States and has done | | | | deflates American buy less products from |
| so again in the last round of OPEC meetings. | | | | overseas which hurts our allies and business |
| Venezuela and Iran wanted to open discussions | | | | partners. In addition, the decline in the dollar |
| about valuing oil against a new currency standard | | | | reduces the value of investments made by |
| then the dollar. They were hoping the move | | | | foreign countries in the Euro. When countries |
| would be symbolic that the world should move | | | | purchase American dollars or make investments in |
| away from seeing the United States as a leader | | | | American dollars they can find that the dollar is |
| and move towards some other supper power like | | | | deflating which means they are losing money on |
| China or the European Union. The 12 member | | | | their investment. Each dollar is worth less then it |
| OPEC dignitaries flew into Riyadh and Saudi police | | | | was a few years ago and therefore their |
| and helicopter blocked roads, and protected the | | | | investments have shrunk. To counter this a |
| sky with helicopters and the dignitaries made it to | | | | number of countries have begun to diversify their |
| their place of residency. The meeting was called | | | | holding in foreign currency to more stable |
| to discuss oil exports and the cost of oil. In | | | | currency like the Euro. The declining value of the |
| addition, the meet is to ponder ways of reducing | | | | dollar is a double-edged sword for the United |
| emissions. A secret broadcast came around which | | | | States. On one end the declining dollar increases |
| showed that Venezuela and Iran were behind the | | | | American exports because American products |
| move to change how oil is priced into another | | | | become cheaper but on the other end America |
| currency. Venezuelan representative Angela's de | | | | has less foreign influence because countries aren't |
| Morais stated, "The weakness of the dollar is | | | | selling as many products in the United States. The |
| affecting us all" and "But that's a global-scale | | | | current crisis the country has to face is the |
| problem. It's not for an individual organization to | | | | amount of dissention that a number of disgruntled |
| tackle." He was referring to Saudis insistence on | | | | countries are beginning to show now that their |
| keeping the American dollar. Saudi Arabia doesn't | | | | economies are not so tightly tied to the U.S. We |
| want to see the American dollar collapse as much | | | | may see a growing trend of countries attempting |
| of its economy is based on the American dollar. | | | | to hurt American interests and business |
| They have hundreds of billions of dollars invested | | | | partnerships around the world. |
| within the United States and removing the dollar | | | | |