Two errors in the statement: 1. (Biggest issue) Not "tied to oil". What is said is "backed by oil". Key distention. Backed by oil ... i.e. House of Saud knows that the US is a ZOG puppet. So, from the 70's to the 10's, OPEC (i.e. House of Saud + a bunch of weak follow-ons) agreed to only trade oil for USD for protection from the US military / CIA & Mossad goons.. (The US is the ultimate Mafia!) This meant that everyone needed USD (even cold war enemies) to buy oil. This created a general international demand for USD. This meant that the US could be profligate in their creation of the USD because the rest of the world would absorb (and more importantly hold) USD. SO ... US gets to enjoy a higher standard of living for 40 years because we can trade freshly printed USD for 'stuff' (TVs, raw materials, electronics, toys, etc, etc.) This is known as the "Petro Dollar" So, excess USD are being sucked up ... but there is no direct connection to the oil markets. Takeaway is now that the world no longer needs USD (oil is now traded in Rubles, Euros, Yuan, etc.), then the US won't be able to print excess USD without paying the price of inflation. (Which is what is being seen now...) 2. (Smaller issue) Oil =/= gasoline. Oil is the raw product. Gasoline is stuff you buy. Between those two points are 1000's of miles of pipelines and cargo ships + heavy industrial refineries, and some poor schmuck that keeps the gas station bathroom clean enough. Yes, gasoline follows the price of oil, but there is not a 1-1 correlation. In times of "crisis", there is a larger decoupling. Ref: https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart (Point being ... if gasoline doesn't follow oil 1:1 how could the gasoline follow the dollar?)