‘Anti-Petrodollar’ CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow

“Anti-Petrodollar” CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow (ZeroHedge, Oct 20, 2014):

Three months ago, the CEO of Total, Christophe de Margerie, dared utter the phrase heard around the petrodollar world, “There is no reason to pay for oil in dollars,”  as we noted here. Today, RT reports the dreadful news that he was killed in a business jet crash at Vnukovo Airport in Moscow after the aircraft hit a snow-plough on take-off. The airport issued a statement confirming “a criminal investigation has been opened into the violation of safety regulations,” adding that along with 3 crewmembers on the plane, the snow-plough driver was also killed.

*  *  *

As RT reports,

According to preliminary data, the light aircraft collided with a snow-cleaning machine on takeoff, a source at the capital’s airport told RIA.

The aircraft was sending distress signals while still in the air and reporting an engine fire and fuselage damage, LifeNews reports. Upon crashing on the runway, the aircraft was engulfed in flames, reportedly killing everyone on board.

While initials reports suggested four people died in the tragedy, officials report that five bodies were found at the crash site, one allegedly being the driver of the snow-cleaning vehicle.

Vnukovo Airport has temporarily suspended all flights following the incident.

“A criminal investigation has been opened into the violation of safety regulations after a light aircraft crash in the capital’s Vnukovo airport,” transport official Tatyana Morozova told RIA.

An investigative group is working at the crash site, Morozova added. In addition to people who were on board the plane, she said, the driver snowplow was killed.

*  *  *

The plane he was aboard…

*  *  *

Of course this could merely be a desparately sad accident… aside from the coincidence of this so recently…

Christophe de Margerie, the CEO of Total (the world’s 13th biggest oil producer and Europe’s 2nd largest), believes “There is no reason to pay for oil in dollars.” Clearly, based onhis comments, that we have passed peak Petrodollar.

As Reuters reports,

Oil major Total’s chief executive said on Saturday the euro should have a bigger role in international trade although it was not possible to do without the U.S. dollar.

Christophe de Margerie was responding to questions about calls by French policymakers to find ways at EU level to bolster the use of the euro in international business following a record U.S. fine for BNP.

“There is no reason to pay for oil in dollars,” he said. He said the fact that oil prices are quoted in dollars per barrel did not mean that payments actually had to be made in that currency.

So even a major beneficiary of the status quo appears to see the end in sight for the Petrodollar.

*  *  *

And of course, it had to happen in Russia!

2 thoughts on “‘Anti-Petrodollar’ CEO Of French Energy Giant Total Dies In Freak Plane Crash In Moscow

  1. Russia has not been paying in dollars for years, neither has China. Some members of the middle east, Turkey and Iran are two, have moved to Putin’s BRICS system, the basket of currencies. Members can trade with each other using their own currencies. An electronic currency, similar to Hugo Chavez’s Sucre, translates the value of all the currencies at the time of transaction.

    The dollar is sliding fast. Only 33% of world economies still use it, down from 100% in January of 2010. The EU is the last big supporter, and once a few of their states break with the status quo, and adopt Putin’s growing basket of currencies within the BRICS system, the dollar will collapse.

    As the US finds itself sitting on piles of paper currency nobody wants, the pressure grows. The FED is turning off the tap this week, no more free cash for greedy guts……at some point, the fact they are paying the interest on the National Debt will come under question, as well.

  2. Another article from the Intercept about how the US forced Hugo Chavez to resign in 2002. He was democratically elected, but his revenge cost the US everything.
    In Spring of 2010, as head of the South American Trade Alliance, Chavez introduced the first electronic currency, the Sucre. The SATA was made up of 12 nations, including Cuba. It was so tiny, it had a GDP of about $500 billion, that it flew under US radar.
    The Sucre allowed member nations to trade with each other using their own currencies, leaving the dollar out. The Sucre translated the value of each currency at the time of transaction, making the need for any world reserve currency obsolete.
    Russia and China, seeing the success of Chavez’s organization, followed suit in November of the same year. They set up their own trade agreement, using their own currencies, leaving the dollar out. China went on to recruit many other nations, including Turkey, Iran, most South and Central American nations. Most emerging African nations joined as well.
    After another fool sanction against Iran, India and Japan joined.
    Australia and New Zealand dumped the dollar as well.
    Finally, in Summer of 2014, Putin went public with his de-dollarazation plan.
    Next, he got together with other members and BRICS, Brazil, Russia, India, China and South Africa and set up a big pool equal to E100 billion to loan money to smaller nations desiring freedom from US financial domination.
    Right now, only 33% of world economies use the dollar, down from 100% in 2010.
    When the EU breaks away from the dollar, it will collapse.
    The US is about finished.
    Their fool aggression against Hugo Chavez has failed. Chavez undercut them in ways they were too self-important to see until it was too late.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.