> dollar=oil relationship has been used as the argument for US dominance for a long time
The dollar’s dominance was won at Bretton Woods (decades before the petrodollar) on the back of WWII.
The petrodollar was a contributor to dollar hegemony from the 1970s through the 2000s. But the combination of the USSR falling and American energy independence thoroughly ruined it as an explanatory factor for dollar and Treasury pricing and utilisation in the post-crisis landscape.
The dollar’s dominance was won at Bretton Woods (decades before the petrodollar) on the back of WWII.
The petrodollar was a contributor to dollar hegemony from the 1970s through the 2000s. But the combination of the USSR falling and American energy independence thoroughly ruined it as an explanatory factor for dollar and Treasury pricing and utilisation in the post-crisis landscape.