3 ms·
Not just Russia but every single nation that has a major part of their economy in oil production: Venezuela, Iran, Saudi Arabia, Norway, Canada, etc. Although
by lingben 11y ago
Not just Russia but every single nation that has a major part of their economy in oil production: Venezuela, Iran, Saudi Arabia, Norway, Canada, etc.
Although to be fair, Northern Europeans manage their oil extremely well. Their 'rainy day' fund is now in the trillions.
http://graphics.wsj.com/oil-producers-break-even-prices/ http://graphics.wsj.com/oil-producers-break-even-prices/
- crdoconnor 11y agoThere's going to be carnage in the financial markets when the oil producing nations' start selling off their assets in order to pay for necessities. Saudi has already started issuing bonds. Once they start selling off their trillion dollar sovereign wealth fund the ripple effect will be felt on asset prices all around the world. It has the potential to cause a self-reinforcing feedback loop as well.