09.04.2013 - Oil exporters must be wary of dependence on oil revenues
Recently, I explained how high oil prices can bring on financial collapse for oil importers. In this post, Iíll discuss the flip side of the situation: how oil exporters reach financial collapse. Unfortunately, we have many examples of countries that were oil exporters, but are dealing with collapse situations. Egypt, Syria, and Yemen all have had political disruptions since 2011. These may not be called financial collapse, but they all took place as the countryís oil exports decreased and as the price of imported food rose. Another example is the Former Soviet Union (FSU). It collapsed in 1991, after a period of low oil prices, in what looks very much like a financial collapse...............................................Full Article: Source
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