What would happen to the US economy if the price of oil was linked to the EURO instead of the dollar?

(I asked this on the US site and some brainiac said ';Bush would move to the UK';. Uh-huh, since when did the UK start using euros LMAO)What would happen to the US economy if the price of oil was linked to the EURO instead of the dollar?
Well, you asked it on the US site again, brainiac...What would happen to the US economy if the price of oil was linked to the EURO instead of the dollar?
Do you mean ';Who the brainiac *is*';? Or, if you're asking a question, you usually add a question mark. Brainiac... Nice work there. Report Abuse

Crash hopefully
It would go under in a couple of months. Prior to the invasion of Iraq, Saddam was making noises about changing over to the Euro, and look what happened to him.
It's the only thing that keeps the US economy going. If OPEC went for Euros instead the US would become a banana republic. Interestingly China is exchanging a lot of its US$ reserves into Euros.
If you really want to know watch this video 'The Energy Crisis' some way in to it he explains why it is crucial to Americas economy that oil is traded in dollars.


http://video.google.com/videoplay?docid=鈥?/a>
It would be more stable.
I'm not sure it would have an enormous impact, other than to stabalise the price of oil. I have asked Qs before, asking why doesn't OPEC trade oil in euros. It would be better off.
the price of oil will stabilize.
Great question! Try asking that one on the cable news networks! I am very curious what they would have to say! I think it would cause the oil tycoons to loose there $123 BILLION DOLLAR PROFITS. And yet the oil tycoons are upset they have to pay $18 billion in taxes! And have been asking for a tax break! GIVE US A BREAK!
The Iraq war started because Sadam wanted to trade oil in Euros instead of Dollars and many people in the UK have investments in the USA.
the dollar or whats left of it would become as valuable as the Russian rouble. At present the euros worth more against the dollar than the pound. Personally the euro can stay as it is I like the pound. But the good news is that finally we could get some cheap holidays out there and we could buy more of their goods and service at a reduced price. Also they would stop whinging about fuel costing a few dollars a gallon and start whinging when it joins the euro tax inflated rates and costs them $10 a gallon. of course they would have to raise taxes to compensate or decrease their population by waging another war or invading another country.


Edit no this is the NI and Uk site, This is not the pure american only site. Is not yank can't you see those flags at the bottom? also I've noticed you can ask for just USA Q'A's I know as I used it on sunday from NY.