When Edwin Drake discovered oil in Pennsylvania in the 1800s and began selling it as a replacement for Whale Oil.
And since America's dollar is the reserve currency of the world, all goods traded globally are traded in Dollars.
Tuesday, December 22, 2009
When did oil start to be priced in US Dollars?
Please substantiate with references. Thanks!When did oil start to be priced in US Dollars?
When Edwin Drake discovered oil in Pennsylvania in the 1800s and began selling it as a replacement for Whale Oil.
And since America's dollar is the reserve currency of the world, all goods traded globally are traded in Dollars.facebooks
When Edwin Drake discovered oil in Pennsylvania in the 1800s and began selling it as a replacement for Whale Oil.
And since America's dollar is the reserve currency of the world, all goods traded globally are traded in Dollars.
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