Wonkette

George Bush and Tony Blair? Meh. The hot, new world leader-BFFs are A’jad and Chavez, those two crazy and totally-not-gay kids! The dynamic duo bonded over their shared hatred of the U.S. this weekend which, luckily for them, was held in Saudi Arabia because there are no gays in Iran. And what did they do in sunny Riyadh besides compare penis sizes?

They gave a bunch of speeches to crap all over the U.S. dollar and our monetary policy (yes, the penis thing was more interesting). Their problem with the exclusive use of the dollar in the international oil trade is that it is currently declining in value vis-à-vis the Euro (and the Canadian dollar and many other currencies) and, of course, that it’s American. They’re also not unduly concerned that the declining value of their cash reserves could have negative effects on their economies and DEATH TO AMERICA! Yeah, while the other arguments might be right, no one else — including the other OPEC heads of state — really believed that the declining dollar was really the most important thing to either A’jad or Chavez.

However, at the end of the Summit, OPEC did direct the finance ministers of the member countries to study the issue. I mean, they directed the finance minister to study the idea of potentially trading oil in other currencies, not how much we suck. That gets enough attention in the world already.

OPEC Interested in Non-Dollar Currency [Yahoo News]