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The notion that Iraq was invaded to prevent the development of weapons of mass destruction, or to combat terrorism, has long been discredited. But a growing consensus believes that Iraq’s oil was surely a prime reason for US actions. However, author William Clark argues convincingly in Petrodollar Warfare that the rationale for intervening was not just for control of the oil fields, but also for control of the means by which oil is traded in global markets.

Petrodollar Warfare discusses the crucial shift in US monetary policy during the 1970s away from the gold standard to becoming the monopoly currency for worldwide oil sales, effectively enabling the US to dominate world trade.