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This Chart Shows Which Countries Get Mauled the Worst by the Oil Bust
Tuesday, December 9, 2014 20:36
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by Wolf Richter
Wolf Street
Oil giveth, and oil taketh away (from Kuwait, Saudi Arabia, Iraq, Venezuela, Russia… and even from the American oil patch).
There is certainly a positive economic side to much lower oil prices, especially for countries that import nearly all their oil and gas. Germany and Japan come to mind, but there are many others. For them, lower oil prices act like a large nationwide tax cut, not just for consumers but also for businesses. And it impacts natural gas.
Natural gas in the international markets is often priced based on oil prices, something that natural gas importers – whether the EU, Japan, Korea, or China – have fought for years as oil prices kept rising.
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Source: http://financialsurvivalnetwork.com/2014/12/this-chart-shows-which-countries-get-mauled-the-worst-by-the-oil-bust/?utm_source=rss&utm_medium=rss&utm_campaign=this-chart-shows-which-countries-get-mauled-the-worst-by-the-oil-bust
