Europe’s green deal was first announced during December, 2019. Targeting carbon emissions and consumption patterns, the plan is local and global. But it will especially disrupt the world’s oil markets. Below you can see that the EU’s dependence on oil…
Shown by Nigeria’s chicken shortage, a country’s oil wealth can become a resource curse when it prevents an economy from diversifying.
Avoided by Norway, Dutch disease is contracted by nations that let a commodity windfall dominate what they produce and spend.
The Saudi king’s golden escalators are examples of their affluence from oil and the need for Saudi diversification from oil.
Like Dutch Disease, Alaska’s oil industry dependence has eliminated other government revenue that might be necessary now that the price of oil has plunged.