Even so, some energy vectors can be traded as commodities, like gasoline or electricity

Indeed.

And IMHO the future of the global financial system (at least for cross-border transactions - domestic trade is another issue) lies in the commoditisation - by the simple expedient of creating Units redeemable in energy - of such energy vectors, and thence to their "monetisation" through an International Energy Clearing Union.

Certainly the concept of a global "Petro" energy standard and the global monetisation of natural gas went down really well in Iran last week.

If I stay snowed in up here in Scotland, I might even complete that article for the Oil Drum you suggested I write ;-)


"The future is already here -- it's just not very evenly distributed" William Gibson