Help us to disseminate news On Venezuela

Rafael Ramirez, former president of PDVSA, under investigation for corruption

Tuesday, May 23, 2017

The Brutal Consequences Of Oil Addiction


Oil prices continue to waver after an 18-month slump, and the world’s most oil-dependent nations are feeling the effects. Saudi Arabia, home of the world’s biggest oil company Saudi Aramco, has announced that they intend to become completely independent of oil by 2030. While this news looms large for the industry and stands starkly as symbol of oil’s uncertain future, Saudi Arabia, who depend on oil for nearly 90 percent of their GDP, is not even in the Top 10 most oil-dependent nations in the world. Ranked by dependence on exports of fuel commodities (including natural gas and coal as well as oil and oil products) Saudi Arabia is number 11, falling behind Iraq, Libya, Venezuela, Algeria, Brunei, Kuwait, Azerbaijan, Sudan, Qatar, and Nigeria. More…

No comments:

Post a Comment