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What this shows quite clearly is that petrostates have too much money and power. Its astonishing how many crucial sectors of the American economy have significa
by pm90 1y ago
What this shows quite clearly is that petrostates have too much money and power. Its astonishing how many crucial sectors of the American economy have significant Gulf investment; and may soon be completely controlled by them.
The only rational way I see out of this is to move to Renewable energy and eliminate the worlds dependence on fossil fuels.
- kylehotchkiss 1y ago_the worlds_ being the key term here, aren’t they probably fueling their own region (Africa, Middle East, South Asia)
- shalmanese 1y agoIt's the move to renewables that's causing this. In a steady state industry, the majority of your revenue goes into investing in the next generation of infrastructure. Dying industries get a temporary injection of profit as your future investments decrease faster than your decline in cashflows. Additionally, there's an incentive to invest this windfall profit into unrelated industries to diversify in preparation for the end of your primary revenue stream.