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But that's the situation everyone is in isn't it? If the Saudis and Iran stop pumping oil then all developed economies will be in the shit. But I don't see any
by LatteLazy 5y ago
But that's the situation everyone is in isn't it? If the Saudis and Iran stop pumping oil then all developed economies will be in the shit. But I don't see any nation radically building vast nuclear facilities... The same goes for China and cheap consumer goods or Taiwan and semiconductors.
The only place that's even close to independent is North Korea...
- rad_gruchalski 5y ago> If the Saudis and Iran stop pumping oil then all developed economies will be in the shit. Oil is 70% of KSA export earnings. If they stop selling, they are also in shit. Iran is 5% of worldwide supply, biggest buyer is China.
- LatteLazy 5y agoSaudi cut their pumps last year didn't they? After 40 odd years of OPEC prices they can afford to just pour money out like a fire hose for a long time...