And your overlooking the fact that dollar hegemony is just as vital to our national interests as massive amounts of oil. I would argue that it is more vital in fact. All of western capitalism is hinged on our reserve currency status and that fact is not lost on the enemies of western capitalism. This is why we do the, apparently, crazy things that we do. Our entire foreign policy is built up around maintaining this arrangement. If it ends, the house of cards collapses. There’s no way we’ll let that happen.
Our dollar would still be a petrol dollar. Our foreign policy is incoherent and counterproductive in the maintaining of dollar value. With the presses running so hard I’m surprised the house of cards hasn’t already shifted far enough for us to make domestic oil production more important than any foreign affair issue.