PETRODOLLAR
b'Petrodollar recycling\\xa0is the international spending or investment of a country\'s revenues from\\xa0petroleum\\xa0exports ("petrodollars").[3]\\xa0It generally refers to the phenomenon of major\\xa0petroleum-exporting nations, mainly the\\xa0OPEC members\\xa0plus\\xa0Russia\\xa0and\\xa0Norway, earning more money from the export of crude oil than they could efficiently invest in their own economies.[4]\\xa0The resulting global interdependencies and financial flows, from oil producers back to oil consumers, can reach a scale of hundreds of billions of\\xa0US dollars\\xa0per year \\u2013 including a wide range of transactions in a variety of currencies, some\\xa0pegged\\xa0to the US dollar and some not. These flows are heavily influenced by government-level decisions regarding international investment and aid, with important consequences for both\\xa0global finance\\xa0and\\xa0petroleum politics.[5]\\xa0The phenomenon is most pronounced during periods when the\\xa0price of oil\\xa0is historically high.[6]\\nThe term petrodollar was coined in the early 1970s during the\\xa0oil crisis, and the first major petrodollar surge (1974\\u20131981) resulted in more financial complications than the second (2005\\u20132014).[7]\\n\\n\\n--- \\n\\nSend in a voice message: https://podcasters.spotify.com/pod/show/chicano/message'