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America's Oil Myths

Power Problems

CHAPTER

The United States Controls the Price of Oil

"There is no evidence that this is how things work," he says. "The decision to market one's oil in dollars, or denominate one's oils and dollars, pre dates by many years the united states exercise of power in the persian gulf." The notion that one has to coerce o oil producers to do this is the problem, writes David Frum.

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