The logic of the petrol dollar system is even more insane than mutually assured destruction. You see we’ve be stuck with petrol not because of petrol, its long been economically inefficient, but because we’ve been stuck with the US dollar. Before there was the petrol dollar there was the gold backed US dollar (petrol dollar predecessor,) but this new arrangement allows for US world domination. You see it is not a true fiat currency, it is petrol backed for everyone but the US.
Here is a rough outline of the rules
If you trade oil or petrol (any carbon energy) you will do it in dollars, even before you start or you will be outright killed by war, invasion or any means necessary (including sanctions, assasinations, interferance with domestic affairs ) and always with extreme prejudice.
If a new large source of petrol opens up and it is not clear it will be traded for dollars, the teritory will be invaded.
Oil trading nations will hold excess revenues largely in T Bills- US must be able to print paper at will and use as much of your oil as it likes. US does not pay for its oil- not directly or on any real schedule.
In return the US provides protection and weapons and keeps the oil trading nation safe from US allies. US also provides guidance on supply- the most contentious issue for petrol producers- US is senior partner of OPEC etc- their bank of no choice.
This reminds of England vs China in early trade. China would only trade its goods for gold. Britain got tired of this and said: allow us to introduce you to a good that you will trade for in any commodity we specify. Meet: Heroine.
The arrangement the US has with oil is the exact same relationship a pimp has with his hoes and Johns taken to the next level where the pimp has so much money he becomes the bank of the world. Now the justfication behind the scenes is going to be something like peace or anti proliferation, but let me introduce rule 5.
Rule 5 -Anti proliferation was never really the point, but where a country has developed offensive nuclear capability, there is so much coercive economic force in place due to the petrol dollar system as a pre-existing condition that the offending country (attempts to trade petrol in another currency) can be locked out of import/export not only on petrol but in needed minerals. Countries that don’t participate will be labeled as part of an axis of evil and the world reminded of the need for a global cop.
Now the people behind this system are calculating and practical. They do respond to necessity and inevitability. They divide and conqueror at will but as to crypto and its effect on money and power they don’t want to lock themselves out of the inevitable so they watch with interest. As to solar cells and batteries, probably almost all of the long term suppressed 5500 plus inventions (goes further than patents) have to do with energy but it had to be recognized against the background of the domination schedule (cultural invasion) that the slow interface of incremental improvement in consumer goods and the margin needed to keep the system going and quantum mechanics would nix the petrol dollar’s window of opportunity some day. And with stuff like digital physics that day has come.
Now who were the architects of this system? Richard Nixon and Henry Kissinger get credit , you can see a picture somewhere of them marching in sweaty pants with their first seeding partner King Saud.