Petroeuro

Petroeuro is a concept that suggests replacing the United States dollar with the euro as the currency used to buy and sell oil and gas around the world. The idea is that this would help reduce the power of the United States by allowing oil-producing countries to buy and sell oil with their own currency, instead of paying the United States for the privilege. It would also help countries who are not part of the U.S. economy, but use the U.S. dollar, to benefit from the international pricing of oil and gas.