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The thing is that it is not about the oil itself or the oil fields, but about the dollar. The US dollar is the world's largest currency, and is also used to trade oil with, as decided by OPEC in the 1970s. A number of Middle East states have stopped using the dollar if I am correct, Iran trades in Euro's, Libya threatened changing (IIRC) and Iraq did the same. Notice any patterns? The dollar is what keeps the nation up. It is at a crucial phase. [Edited on 10.04.2012 1:25 AM PDT]