6 ms·
The 1970s oil crisis was only losing 5-7% of total production. We are most likely double that amount right now.
by 3eb7988a1663 5mo ago
The 1970s oil crisis was only losing 5-7% of total production. We are most likely double that amount right now.
- FreakLegion 5mo agoAnd now we're much less reliant on oil, and more countries produce it and have reserves. The flip side is the economy and financial system already felt creaky anyway (tariffs, inflation, job market, government shutdowns, private credit, AI, etc.), so net net things may be just as bad or worse.