4 ms·
>"Too much of the world has massive energy needs in order to develop (almost all of Africa, large parts of South America and Asia) and oil will be a huge part o
by bogomipz 6y ago
>"Too much of the world has massive energy needs in order to develop (almost all of Africa, large parts of South America and Asia) and oil will be a huge part of the energy mix given its advantages."
Nigeria, Algeria and Angola are all big petro-states. Africa does not need to buy from Saudi. In South America both Brazil and Venezuela are huge petro-states and so they are not dependent on Saudi Oil either.
- jeffreyrogers 6y agoSure, but I was talking about peak oil demand. If anything those countries having large oil reserves will just incentivize them to use more oil.