Quote:
Originally Posted by Barry-xlovecam
Oil politics and wars are outdated ideas.
Iran and the Gulf States will be drinking their oil and eating their sand soon -- they need a new plan to survive or they will be camel herders once again -- and they know it.
Some oil exporting economies are crashing now others will follow in time. China may have it's own oil reserves in the south China Sea.
In 20 or 30 years, oil consumption will be 25% of what it is today -- the writing is on the wall.
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I couldn't agree more.
Since the 1970s when OPEC brought us to our knees the US has been bending over to please the Middle East. Now we produce more oil than them, and at the same time we are transitioning over to electric cars. The price of oil is coming down, and will most likely stay down. The very same system that ensured they made money hand over fist is now going to be their downfall.