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Monsters to Destroy – Understanding the War on Terror - Oxford Scholarship Online
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Monsters to Destroy: Understanding the War on Terror

Navin A. Bapat


This study argues that the war on terror can be explained as an effort to cement the U.S. dollar as the world’s foremost reserve currency by expanding American control over the global energy markets. Since the 1970s, the states of OPEC agreed to denominate their oil sales in U.S. dollars in exchange for American military protection. The 9/11 attacks gave the U.S. cover to eliminate current challengers to this system while simultaneously striking new security agreements with host states throughout the Middle East, Africa, and central Asia that are critical to the extraction, sale, and transport ... More

Keywords: terrorism, insurgency, foreign policy, oil, finance, dollar peg, hegemony, OPEC

Bibliographic Information

Print publication date: 2020 Print ISBN-13: 9780190061456
Published to Oxford Scholarship Online: April 2020 DOI:10.1093/oso/9780190061456.001.0001


Affiliations are at time of print publication.

Navin A. Bapat, author
Professor of Political Science, University of North Carolina