Both the Ruskies and the Saudis have to keep pumping to keep their economies afloat at such low prices. Demand destruction on the global level is moving at a faster pace than the supply shrinkage. There is insufficient credit being dished out on the consumption side to maintain growth and high demand. Most of the 1st world economies that pull consumption are up to their eyeballs in debt and are no longer credit worthy customers. 3rd world countries aren't growing enough to compensate so the whole economic cycle is broken. What most Peak Oilers never got was that the prooblem was much more an economic one than a supply one. Really, the only 3 who ever really got it were Nicole, Steve and me.
RE
Europe's Economic Collapse
Started by RE Dec 25, 2025, 06:27 PM
Message path : / Politics / American Imperialism / Europe's Economic Collapse #4
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