>Europe wants to become reliant on Russia's natural gas

>>137268032
China pretty much controls the dollar now too

>>137268274
The dollar value*

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>>137268032
>he thinks we won't just burn the world if we can't own it

It doesn't matter what currency is used to trade oil in. The US dollar was the largest economy and a huge producer and consumer of oil so it makes sense to trade in USD. However the US economy and the value of the US dollar isn't related to the value of oil.

The world could trade oil in any currency that was even remotely stable.
Oil companies don't get paid in USD if they are not US companies in general. They get paid in a value of USD for their contracts. They sell X amount of oil at Y price in USD, but get paid in the local currency Z.

The petrodollar is simply a way to avoid many of the currency changes with a product the is ordered months ahead with a highly variable value.

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Mfw the states still has tons of oil and can import more oil from canada.