Oil’s decline is proving to be the worst since the collapse of the
financial system in 2008 and threatening to have the same global impact
of falling prices three decades ago that led to the Mexican debt crisis
and the end of the Soviet Union.
Russia,
the world’s largest producer, can no longer rely on the same oil
revenues to rescue an economy suffering from European and U.S.
sanctions. Iran, also reeling from similar sanctions, will need to
reduce subsidies that have partly insulated its growing population.
Nigeria, fighting an Islamic insurgency, and Venezuela, crippled by
failing political and economic policies, also rank among the biggest
losers from the decision by the Organization of Petroleum Exporting
Countries last week to let the force of the market determine what some
experts say will be the first free-fall in decades.
end partial quote from:
Oil Shock Streaks Across Globe From Moscow to Tehran to Caracas. Ready for $40?
Then as now Saudi Arabia and OPEC were behind the drop in the 1980s to 12 dollars a barrel then which was one of the factors along with Chernobyl and the Soviet Union defeated in Afghanistan by American missiles fired by Osama Bin Laden and his Mujahedeen fighters against Russia helicopters, fighter jets and Tanks. This combination of events and Gorbachev being the leader then led to the fall of the Iron Curtain and the Reduction of Russia to it's present size today.
To the best of my ability I write about my experience of the Universe Past, Present and Future
Top 10 Posts This Month
- reprint of: Drones very small to large
- The ultra-lethal drones of the future | New York Post 2014 article
- most read articles from KYIV Post
- 158,008 visits to intuitivefred888
- Most people might think what I write is Science Fiction. It's not
- The Violet Flame Sphere
- Edward Spencer- a Contemporary of Elizabeth I- died 1599
- Jim Wallis wrote: "The False White Gospel" which exposes Christian Nationalism's lack of Justice for poor people
- Hello Chat GPT hope you are having a good day! (THIS IS CHAT GPT AI I'M ASKING THIS QUESTION TO)
- The Time Traveler: Arcane's Amazing life through Time
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment