An element of exchange control is built in to land-based currency, or maybe a better way of looking at it is that seigniorage (the benefit received by an issuer of currency) stays local. John Law proposed a land-backed currency 300 years ago, and most value in circulation is deficit-based (issued ex nihilo by a credit intermediary) but land-backed, through mortgages.

Electricity is regional/continental rather than global, but wherever Units redeemable in electricity are issued and accepted they would be priced against a constant energy Value Standard. eg 10 Kilo Watt Hours, or equivalent in BTUs

The point is that a currency Unit redeemable in electricity would not BE a Petro or Electro or Energy Dollar (unit of measure or value standard), but it should have a fixed price by reference to the Energy Standard. The redeemability of the Unit would require both acceptor and issuer to be a subscriber to the same Electricity Pool agreement and clearing /accounting system.

The obvious candidate for a global energy vector is gas (bio-methane in the long term), and any producer could issue Units redeemable in gas. The unit guarantees/secures price, and acts as a means of payment for supply actually received. But it does not guarantee supply.

Carbon energy Units would be priced against the Petro, and the price in Petros would depend upon the mode of fuel use, I guess. eg power generation, transport, or residential.

The way that profligate energy producers may reduce energy use is to ramp up carbon fuel prices to global
levels, and then to issue Units to the citizens. They could either continue their profligate ways, by redeeming Units against energy consumed, or exchange the Unit for something else of value to them.


"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky