¿What is the next for the american dollar? We remember the OPEC MEETING from the last november, when Iran and Venezuela, try to include american dollar in OPEC talks. This time, Saudi Arabia block any kind of talk about the dollar, but the game is not over yet.

During 2007, the Bankers in Iran have complained that it was becoming increasingly difficult to receive Iranian-held money denominated in dollars from European bank accounts. They said that this was because of United States pressure on European banking giants not to allow dollar-denominated funds to be sent into, or out of, the Islamic republic government of Iran.

Iran and Venezuela, are looking to reduce its dependence on the dollar, want to reduce this kind of vulnerability. Foreign income sources and oil revenues should be calculated in euros and want to receive them in euros in order to put an end to its dependence on the dollar.

For Iran, the 60 percent of oil sales are already being carried out in dollars in another hand for Venezuela represents around 90 percent of oil sales.

This week Iran has stopped selling its oil for american dollars, the Iran’s oil minister, Gholamhossein Nozari say: “In line with a policy of selling crude oil in currencies other than the U.S. dollar, the sale of our country’s oil in U.S. dollars has been completely eliminated,” and, He also said “the dollar is no longer a reliable currency.”

If we remember the last week, Russia through Gazprom is mulling over the possibility to sell natural gas and crude oil for rubbles. Gazprom has 118,367.564 million rubbles in stock capital split into 23,673,512.9 thousand common stocks, 5 rubbles par each.

¿The Dollar has problems? The United States is the hegemony, yet. But its currency is experimenting a real globalization, because now, the dollar needs to fight with the yuan, the euro, and maybe (soon) the rubble but its main enemy is the same american dollar, the real adversary is the american currency policy. For this reason, The United States needs to improve its foreign and currency policy.

|Manuel Torres Laveaga

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China wants to impress to the world and the scene chosen for it is the next Olympic Games (Beijin 2008). It’s prolonged and intense growth needs a better energy supply.

The most of China’s energy supply is energy that contaminates much. At this moment, China is one of the countries with greater pollution, and its capital city (Beijin/Pekin) is between the main ones contaminated. This is not good for the image of the Olympic Games. It requires an energy revolution with less dirty energy, for this reason China’s Power Industry is experiencing a deep reform offering affordable, cutting edge training for organizations and individuals in the electric power and gas businesses.

The Government is promoting investments for the electricity produced from renewable energy in opposition to the use of the coal and another fossil fuels. So, we will see frequently operations of acquisition and investment in small renewable energy companies that are interesting if we consider it’s domestic market and industrialists who continue to need high volumes of electricity. It just needs to continue with the appropriate energy policy but looking for a better sustainable policy applied by the Chinese government.

|Manuel Torres Laveaga