The Enduring Tyranny of Oil
TomDispatch
The Desperate Plight of Petro-States - With a Busted Business Model, Oil Economies Head for the Unknown
Tom Dispatch
Petro-states are different from other countries because the fates of their governing institutions are so deeply woven into the boom-and-bust cycles of the international petroleum economy. Now, one thing is finally clear: the business model for these corporatized states is busted. The most basic assumption behind their operation -- that global oil demand will continue to outpace world petroleum supplies and ensure high prices into the foreseeable future -- no longer holds
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