It's a play on words, but I believe "priced in dollars" means oil payments made in dollars. In other words, the currency you need to have on hand to trade with.

It's a play on words, but I believe "priced in dollars" means oil payments made in dollars. In other words, the currency you need to have on hand to trade with. See the article linked below: Excerpt: "Brazil has shown interest in collaborating in non-dollar oil payments, along with India." http://www.businessweek.com/globalbiz/content/oct2009/gb2009106_736291.htm http://www.businessweek.com/globalbiz/content/oct2009/gb2009... Also, Saddam Hussein was threatening to take payments for oil in euros...