Free Reading Comprehension Printable Worksheet: The End of The Petrodollar?


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Are you looking for Free Reading Comprehension Online Worksheets? or Free Printable Reading Comprehension Worksheets for Adults? if so, then you have come to the right place.

It is taken for granted that reading comprehension has a critical role in shaping students’ academic achievements and future success. When students have strong reading comprehension skills, they can confidently tackle challenging texts, make meaningful connections, and analyze complex ideas.

Why Reading Comprehension Is Important?

Reading comprehension is more than just understanding the words on a page, it is about engaging with the material, making connections, and analyzing ideas.

Why is reading comprehension important? Simply put, it is the foundation of all learning. Without strong reading comprehension skills, you will struggle to understand the material presented to you, both in school and in the workplace. You may miss out on opportunities to learn, grow, and succeed.

In the classroom, reading comprehension is essential for academic success. It is not enough to just memorize facts and figures; you must be able to understand the material in a meaningful way. This is particularly true as you move through higher levels of education, where the material becomes more complex and abstract.

In the workplace, reading comprehension is critical for success in many fields. Whether you are a lawyer, a doctor, a scientist, or a business professional, you must be able to read and comprehend complex documents, research, and reports. Failure to do so can lead to costly mistakes, missed opportunities, and even legal repercussions.

What is more, beyond the classroom and the workplace, reading comprehension is important in everyday life. Being able to understand the news, analyze advertisements, and interpret instructions are just a few examples of the many ways in which strong reading comprehension skills are essential.

So how can you improve your reading comprehension skills? The first step is to read actively, engaging with the material and asking questions as you go. Make connections between what you are reading and your own experiences and knowledge. Look up unfamiliar words and concepts to deepen your understanding.

Another effective strategy is to practice reading comprehension exercises. These can be found online here at our blog offers a vast collection of free, downloadable reading comprehension passages that teachers of English and learners can use to improve their reading skills.

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Free Reading Comprehension: The End of The Petrodollar?

The petrodollar system emerged in the 1970s after the United States struck a deal with Saudi Arabia, which had become the world’s largest oil exporter. The deal meant that oil would be priced in dollars, and that Saudi Arabia and other countries in the Organization of the Petroleum Exporting Countries (OPEC) would invest their surpluses in U.S. Treasury securities and other dollar-based assets. This created a huge demand for dollars, which helped the U.S. to fund its deficits and maintain its global economic dominance.

The petrodollar system had several advantages for both the United States and OPEC. For the United States, it meant that the dollar became the dominant global currency, as countries that wanted to buy oil had to acquire dollars first. This allowed the U.S. to print more dollars without fear of inflation, as the demand for dollars remained high. It also made it easier for the United States to borrow money, as it was seen as a safe haven for investors. For OPEC, the petrodollar system meant that the value of its oil reserves was denominated in a stable currency, rather than a fluctuating one.

However, the petrodollar system has faced several challenges in recent years. First, the rise of shale oil in the United States has reduced the country’s dependence on imported oil, which has weakened the link between the dollar and oil prices. Second, China has become the world’s largest importer of oil, and it has been pushing to use its own currency, the yuan, to pay for oil imports. Finally, the U.S. sanctions on Iran and other countries have prompted them to seek ways to bypass the petrodollar system and use other currencies for oil transactions.

Despite these challenges, the petrodollar system remains in place, and the dollar continues to be the dominant global currency. However, its future is uncertain, as other countries seek to challenge the U.S. dominance of the global financial system.

Adapted from: Council on Foreign Relations, “The End of the Petrodollar?”, October 2019

Reading Comprehension Questions:

  1. What is the petrodollar system?
  2. How did the petrodollar system benefit the United States and OPEC?
  3. What challenges has the petrodollar system faced in recent years?
  4. Despite these challenges, why does the petrodollar system remain in place?
  5. What could be the future of the petrodollar system?

Vocabulary Exercises:

Match the vocabulary words with their definitions.

  1. Surpluses (n.) A. To go around something or someone.
  2. Dominance (n.) B. The amount by which something is more than what is needed
  3. Denominated (v.) C. The position of being in control
  4. Fluctuating (adj.) D. To give a name or value to something
  5. Bypass (v.) E. rising and falling irregularly in number or amount

Find a synonym for each of the following words from the passage.

  1. Appeared
  2. Agreement
  3. Put money into
  4. Benefits
  5. Unsure

Find an antonym for each of the following words from the passage.

  1. Submissive
  2. Stable
  3. Instability
  4. Decrease
  5. Unopposed

Writing Exercise:

Write an essay in which you analyze the advantages and disadvantages of the petrodollar system. Do you think the petrodollar system will continue to be in place in the future, or will it be replaced by another system? Why or why not?

free reading comprehension worksheet: the end of the petrodollar

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