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What are petrodollars?

What are petrodollars? Here are some definitions.

Noun
  1. plural of petrodollar
  2. Money earned through the sale of petroleum.
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Examples
Recycled petrodollars can enter the Canadian financial system through several channels.
A flood of petrodollars is making Russia a resurgent power but, regrettably, it sees everything in zero-sum terms.
One could trace its beginnings to the 1970s, when recycled petrodollars fueled large capital inflows to developing nations.
The Middle East, which is awash with petrodollars thanks to the surge in world oil prices, has proved a happy hunting ground for western defence groups in recent months.
What are the prospects for poverty reduction through the investment of petrodollars?
Although some of these savings are being used to pay down external debt, most petrodollars are invested abroad.

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