Part 2/10:
The oil barons leveraged their near-total monopoly on the world's most important raw material to influence various systems, including education and medicine. Their monetary power shaped major global events, contributing to everything from the Green Revolution to international conflicts. The introduction of the petrodollar in the 1970s effectively tied the international monetary system to oil markets, cementing the oligarchs' power.
However, as we entered the 21st century, signs began to emerge that this age of oil might finally be closing. A growing awareness of their environmental impact led the masses to recognize and criticize the destructive control exerted by the oil oligarchs. The promise of a post-carbon future offered hope against the long-standing infrastructure of oil-based power.