Oil is a secondary concern here. The US does have ample supplies of oil, BUT, what is a concern is that right now, since the US does not use the gold standard to back its currency, the sale and purchase of oil worldwide is how the US supports its currency. The US dollar is the current official 'language' of the world economy. If the EURO became the official language, or at least the official language for the oil producing nations, then the US would no longer be able to just print money to buy things. That's basically what the US government does- if it wants something, it prints money and gets it. Because the US dollar is used for oil, other countries trade goods to the US for the privilege of using the US dollar to purchase...oil. Basically, if the EURO became the de facto currency used for oil, how would the US be able to maintain it's control of the world? The US needs oil, and it would be forced to purchase oil with Euros....since the US dollar is not backed by anything, and because the US basically owes other folks a few trillion dollars, how would the US be able to continue? It couldn't. The US economy would crash---if you look at how Enron was making its money, you have a micromodel of how the US government operates in the world markets. So Saddam changing Iraq over to the Euro constituted a trend that Bush and company could not let continue...if they did, the gas would be five dollars a gallon in the US by the end of 2004.