My own take on this is that, while it's possible for a bunch of countries to invent a new pseudo-currency, it's probably easier to use an existing pseudo-curren

My own take on this is that, while it's possible for a bunch of countries to invent a new pseudo-currency, it's probably easier to use an existing pseudo-currency, and I think the IMF's XDR is a likely candidate: http://en.wikipedia.org/wiki/Special_Drawing_Rights http://en.wikipedia.org/wiki/Special_Drawing_Rights This is a weighted average of several currencies, in addition to the USD. I think it's much more likely that, if oil is to be traded in any non-USD currency, it will first be traded in a pseudo-currency that includes the USD.