this post was submitted on 12 Jan 2024
773 points (94.3% liked)
Memes
45727 readers
911 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Pretty good till the price of oil plummeted, single resource economies are ticking time bombs.
What do you mean 'till the price of oil plummeted"? The whole world plummeted in the 08' crash. Sure the price per barrel plummeted in 2009 but the price of oil has since gone up to those early 2000's levels...
https://en.m.wikipedia.org/wiki/West_Texas_Intermediate
Bruh, Venezuela has some of the dirtiest crude on the planet and lacks the ability to refine it themselves relying on American refineries which have had an embargo against importing Venezuelan oil till last year, you are so out of yout depth in global economics is laughable.