The one major factor in this scenario is that IF they were to drop the price of Euro-oil then the USA just like everyone else would then purchase using Euro priced oil. Nothing new here.
Very true. Euros would be the desired currency, and USD would be the undesired currency. The consequences of this would be that USD would quickly become worthless since no one wanted them. America doesn't have a Euro money tree to obtain the Euros for purchasing oil for Euros. They must trade USD to get Euros they can spend. If no one wants USD, then they will have to offer more and more USD just to get the folks holding the Euros to trade them for USD.
Why is the oil bought under USD instead of Euros? this is because even in today's unstable world market, the USD is the only one with a long history of being stable, higher than the Euro or lower doesn't matter as of right now.
Try the Brenton Woods Agreement as being the reason oil is bought with USD instead of other currencies. America saw the writing on the wall, and convinced the oil sellers to agree that they would only sell their oil for USD. That ensured there would be a demand for USD as long as there was oil to sell.
The USD does not have a long history of being stable. It has no long history. Federal Reserve Notes started in 1913.
If oil sellers wanted paid with funds having a long history of stability, they would demand payment in gold, silver, platinum, diamonds, or some other precious rare item.
Why do you think the US is in Iraq? They want to make sure they can get contracts to buy oil in USD. The Iraqi folks don't have much choice but to agree to sell the US their oil (and refuse to sell to other countries) when we are holding a gun to their head.
The companies that are all for doing what they can for nothing more than the bottom line (Walmart, GE,.....) these are the reasons jobs and equipment are out-sourced.
Want it to stop, stop going to Walmart, stop buying stuff made in China. It might take a amount of time BUT they'll take notice. Greed will listen.
Capitalism is the reason companies profit maximize. If you want companies to stop trying to maximize their profits, do away with capitalism and start being a socialist.
If you want to protect yourself, be self sufficient. Dependance leads to slavery. A debtor is a slave to the creditor.
I think the most important minimum standard of living folks should aim for is a roof over their head, food in their bellies, and clothes on their back. That's what is really important. It's also important that you be able to provide these essentials without being dependant upons others if you want to experience long lasting freedom and prosperity.
I love America and the principles the united states of America was founded upon. I detest the socialist empire policies of the present US government. I fear for the future of the debtor slave, dependant American people.