The oil price collapsed. This means many countries are in big trouble. After all, are natural resources not a blessing for a country. It could be the case. but the revenue they gain with it is normally spending on pretty wasteful things.
Iran is depended on the oil revenue, Saudi Arabia, Mexico, Venezuela, Russia to name some other countries. In the United States, they are working on a production cartel. Think about this for a moment. It is said that free trade is best. But it is not when producers are hurt? Or when tax revenue is down?
It was possible to happen due to an interesting combination. To begin we have the global economic collapse. A collapse that is being done in order of bureaucrats and politicians. Who we are not being capable to hold them an account.
When it comes to production it is interesting to see what happened in the USA. The shale revolution made the USA into a net energy exporter.
As a game-changer is this important to keep in mind. After all, is this one of the reasons the Nigerian oil exports collapsed. Not to mention the failings to keep the refineries operating in Nigeria. Leading to energy shortages and blackouts that are happening until right now.
Now the OPEC is in big trouble. After all, are the USA and Russia no part of it. Russia has plenty of oil in Siberia. It is just terrible to get it, due to the climate circumstances.
But this is also an interesting moment. We can pick up oil investments for pennies on the Dollar. This might be an interesting thing. We are going to see many more activities in this field.