I think we have to consider that the petrodollar arrangement has been very very good for America and that it would be very very bad for America if it were to suddenly end. We also need to consider that as our welfare/ warfare state grows around this whole arrangement, the severity of the consequences of it ending grow with it. I suspect that there are no lengths to which we will not go to to maintain the status quo- wars, revolutions, assassinations, etc. With all this in mind, I think it’s pretty obvious that we can’t allow anything to come between us and the Saudis so, yes, we need to keep them close and the best way to do that is to keep buying their oil, protecting their interests, and respectfully bowing to their kings.
So on the first step, do you limit domestic production?
The climbs in oil production in the US by technical development are not going to stop in the US. It just started here. Just like nearly always.