For those familiar with my research and interested in the arcane subject matter of the global economy, Peak Oil, and the unspoken oil currency war between the dollar the euro, I am pleased to announce that my book is finally being released this week. It only took 3 years of research, 1.5 years of writing, and 640+ footnotes, to produce my little magnum opus, but I think most objective readers will find it interesting, even if somewhat disconcerting. Here's the publisher's Press Release:
Media Contact:
Beth Anne Sobieszczyk
bethanne@newsociety.com
Ph: 250-383-5863
July 2005
Re: Consideration for Review
Reveals the background – and blowback –
from the first oil currency war
— FOR IMMEDIATE RELEASE — Petrodollar Warfare
Oil, Iraq and the Future of the DollarWilliam R. Clark
PROJECT CENSORED AWARD WINNING AUTHOR, 2003 and 2005The invasion of Iraq may well be remembered as the first oil currency war. Far from being a response to 9-11 terrorism or Iraq’s alleged weapons of mass destruction,
Petrodollar Warfare argues that the invasion was precipitated by two converging phenomena: the imminent peak in global oil production, and the ascendance of the euro currency.
Energy analysts agree that world oil supplies are about to peak, after which there will be a steady decline in supplies of oil. Iraq, possessing the world’s second largest oil reserves, was therefore already a target of U.S. geostrategic interests. Together with the fact that Iraq had switched its oil currency trade to euros — rather than U.S. dollars — the Bush administration’s unreported aim was to prevent further OPEC momentum in favor of the euro as an alternative oil transaction currency standard.
Meticulously researched,
Petrodollar Warfare examines U.S. dollar hegemony and the unsustainable macroeconomics of ‘petrodollar recycling,’ pointing out that the issues underlying the Iraq War also apply to geopolitical tensions between the U.S. and other countries including the member states of the European Union (EU), Iran, Venezuela, and Russia. The author warns that without changing course, the American Experiment will end the way all empires end – with military over-extension and subsequent economic decline. He recommends the multilateral pursuit of both energy and monetary reforms within a United Nations framework to create a more balanced global energy and monetary system – thereby reducing the possibility of future oil depletion and oil currency-related warfare.
A sober call for an end to aggressive U.S. unilateralism,
Petrodollar Warfare is a unique contribution to the debate about the future global political economy.
About the Author: William Clark has received two Project Censored awards, first in 2003 for his ground-breaking research on the Iraq War, oil currency conflict, and U.S. geostrategy and again in 2005 for his research on Iran’s upcoming euro-denominated oil bourse. (
Censored 2004: The Top 25 Censored Stories, Seven Stories Press). He is an Information Security Analyst, and holds a Master of Business Administration and Master of Science in Information and Telecommunication Systems from Johns Hopkins University. He lives near Bethesda, Maryland.
288 pages 6 x 9” Current Affairs / Political Science & Government / Finance
Pb ISBN 0-86571-514-9 US$17.95 / Can$24.95
***
Here's what others said about this new book (based on the gallery/proof manuscript)....
Advance Praise for Petrodollar Warfare; Oil, Iraq, and the Future of the DollarWilliam R. Clark's
Petrodollar Warfare is an oracle of our times exposing the hidden geopolitical strategies of the power elite and the interlocking agendas of big oil and the neo-conservatives in power today. Clark is a winner of two Project Censored awards for publishing important news stories ignored by the corporate media in the US.
-- Dr. Peter Phillips, Professor Sociology, Sonoma State University and Director Project Censored
Petrodollar Warfare by William R. Clark is an important contribution to the question what the Iraq war was and is all about. Clark links the emerging Euro currency to Iraq’s pricing of its oil as one significant factor leading to Washington’s decision to topple Saddam Hussein. It might be open for argument whether a ‘Petroeuro’ as a replacement for the ‘Petrodollar’ is likely or not, given the many divisions within the European Union. But Clark’s thorough documentation of the discussion, notably plans for an Iranian Oil Bourse to counter NYMEX and the London IPE, provides a useful basis for further thinking about one of the vital strategic issues of today. Clark also extensively treats the issue of Peak Oil, or global depletion, as a major unspoken factor in the US oil agenda. This book is definitely worth careful reading.
-- F. William Engdahl, author of
A Century of War: Anglo-American Oil Politics and the New World OrderWhile the economic advantages accruing to American elites from US dollar hegemony have been mostly hidden from view, the impending end of dollar supremacy will affect everyone in obvious, painful ways. In this riveting macro-economic investigation, William Clark guides us through the hidden history of the petrodollar era and deftly uncovers the basis of current US strategy in the Middle East. If you think you understand the headlines, think again: current events can only be understood when we follow the money.
This sobering book not only elucidates our past and present, but shows the way toward global monetary reform. As Clark makes clear, America's founding ideals can only be fulfilled if the people of the US are willing to confront the twin demons of proto-fascism and kleptocracy.
-- Richard Heinberg, author of
The Party's Over: Oil, War and the Fate of Industrial Societies, and
Powerdown: Options and Actions for a Post-Carbon WorldNot only does
Petrodollar Warfare give you the big picture of the intertwined world of war, oil, and money, but Clark also provides ideas for change. This book helps to fuel the grassroots engine for progress in America.
-- Jim Hightower, radio commentator and author of
Let’s Stop Beating Around the Bush, and
Thieves in High Places: They’ve Stolen Our Country and its Time to Take it BackIn
Petrodollar Warfare, William Clark provides important new insights into the strategic thinking of American leaders. Anyone who seeks a more complex and revealing explanation for the U.S. invasion of Iraq and other recent US policy initiatives will find this book well worth reading.
-- Dr. Michael T. Klare, author of
Blood and Oil: The Dangers and Consequences of America's Growing Petroleum Dependency, and professor of peace and world security studies, Hampshire College
Back in 1997, when I wrote about M. King Hubbert and Peak Oil in the first edition of
The Last Hours of Ancient Sunlight, not many people were aware that we were fast approaching a worldwide energy crisis. Now we're in the middle of two wars over it, as William Clark so brilliantly documents in
Petrodollar Warfare. Oil in Euros, deceptions from the White House, wars for profits and political power; it reads like a Ludlum novel. Unfortunately, it may well be altogether too true.
-- Thom Hartmann, author of
The Last Hours of Ancient Sunlight, and
Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights It is clear to almost all informed observers that both the US and the world are entering new, dangerous, and quite uncharted territory, especially now that questions about global oil supplies have exploded into mainstream prominence. All of this leads to an ever more complex world with no simple explanations, and nowhere is this more true than the tragic interplay between oil, politics, and money.
Petrodollar Warfare is therefore to be greatly welcomed, since William Clark's book provides a badly needed, carefully researched explanation of the deep and dark mechanisms underlying international movements of money and military forces. Clark tells the fascinating and distressing story of how America achieved world dominance and looks with tough honesty and realism at what the future might hold. If
Petrodollar Warfare's bold analysis can help more Americans to understand the current pathology of their own extraordinary country, then it will assist both the world and America to find a better path into a less violent and energy-addicted future.
-- Julian Darley, founder of Global Public Media and the Post Carbon Institute, author of
High Noon for Natural Gas: The New Energy Crisis and
Relocalize Now! Getting Ready for Climate Change and the End of Cheap Oil I first became aware of William Clark’s writings in the latter part of 2004. I was amazed by his clarity and almost intuitive grasp of economic issues as well as his ability to relate those to everyday life across several disciplines. Watch what this man says. In
Petrodollar Warfare, he may be telling us things that we will need to hear for our own survival.
-- Michael C. Ruppert, author of
Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil ***
If interested, this book can be ordered online for quicker delivery:
New Society Publishers
http://www.newsociety.com/bookid/3877 Amazon.com
http://www.amazon.com/exec/obidos/tg/detail/-/0865715149/qid=1121451579/sr=8-1/ref=pd_bbs_1/104-7449886-0360761?v=glance&s=books&n=507846
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