Petrodollar recycling refers to the phenomenon of major petroleum-producing nations --mainly the OPEC members-- earning more money from the export of oil than they could feasibly invest in their own economies. It was a phenomenon of the late 1970s and early 1980s, the peak years for petrodollar surpluses.
Read more about Petrodollar Recycling: History, Recycling Petrodollars, Alternative View of Petrodollar Recycling, Foreign Aid
Famous quotes containing the word recycling:
“Both the Moral Majority, who are recycling medieval language to explain AIDS, and those ultra-leftists who attribute AIDS to some sort of conspiracy, have a clearly political analysis of the epidemic. But even if one attributes its cause to a microorganism rather than the wrath of God, or the workings of the CIA, it is clear that the way in which AIDS has been perceived, conceptualized, imagined, researched and financed makes this the most political of diseases.”
—Dennis Altman (b. 1943)