If oil prices stay below $90 per barrel for any length of time, we will witness massive fiscal squeezes and regime changes in one or more of the following countries: Iran, Bahrain, Ecuador, Venezuela, Algeria, Nigeria, Iraq, or Libya.
Sunday, October 19, 2014
FORECAST: If oil prices stay below $90 for a while, we will witness fiscal squeezes and regime changes in production countries
Steve Hanke writes:
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Absolutely, Libya is already a mess so my money is on Venezuela. Russia should be on the list to. It got the worlds highest production cost and a huge dysfunctional country to fund.
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