"Remember petrodollars, those oil riches that sloshed around the world after the price of crude soared in the 1970's and 1980's? Well, they're back," reports The New York Times. (Registration required for access. No fee required.)
"As oil prices have charged ahead, the United States and other oil importers have transferred hundreds of billions of dollars to oil exporting countries like Saudi Arabia and Venezuela. What these countries do with their new wealth could have substantial implications for the American economy."
