David Wight
Lecturer at the University of North Carolina Greensboro and author of Oil Money: Middle East Petrodollars and the Transformation of U.S. Empire, 1967–1988, providing expertise on petrodollars and U.S.–Middle East financial relations.
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Apr 30, 2026 • 27min
How the petrodollar took over the world
David Wight, a lecturer and author who studies petrodollars and U.S.–Middle East finance, unpacks how oil priced in dollars became the backbone of global money. He traces the 1970s bargain with Saudi Arabia, the flow of dollar reserves and arms, countries trying to ditch the dollar, and whether alternatives like the yuan can really displace the system.
