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Petrodollar's importance for US economy is not that important. The net financial benefit from petrodollar to the United States in a good year is something betw
by Nokinside 8y ago
Petrodollar's importance for US economy is not that important.
The net financial benefit from petrodollar to the United States in a good year is something between 0.3 to 0.5 percent of US GDP. On crisis years it's fraction of that.
The main cost from petrodollar is that that the dollar exchange rate is an estimated 5 to 10 percent higher than it would otherwise. This hurts exports.