Blood for...

The idea that the wars in the Middle East are being fought for oil is usually dismissed as being too simplistic. After all, the US imports only a relatively small percentage of its oil from there, and could probably obtain what it needs from other countries, without going to war. It's true; it's not that simple or direct.

But the catch phrase "blood for oil" is based in truth nonetheless. In this article, the author explains how the American economy is dependent on the de facto use of the US dollar as the world's currency, which in turn largely depends on the oil-producing nations, particularly OPEC, selling their oil for dollars.

The only OPEC country that has converted from the dollar to the euro (the only other competitor for a world currency) is, not surprisingly, Iraq. Iran is considering it, and guess who Bush is considering invading next? Venezuela is talking about decoupling its oil from both the dollar and the euro, and Bush is reportedly trying to topple the Chavez government there.

So, if "blood for oil" is too simplistic, maybe we could change it to "blood for oil for dollars".