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People in wealthier countries talk about oil shocks like it just means paying more at the pump. In places like Kenya it can spiral into strikes, food inflation, unrest, and people literally dying in protests within weeks.
Goddam this is bad, it gives me an eerie vibe that this is just the beginning of such consequences globally due to rising fuel costs.
Some of the regions that will do best are probably EU and China, because we have good economies and a high degree of renewable energy.
Other regions will feel it both faster an harder. Because they are more dependent and/or can't as easily afford higher prices.
USA will probably be worse off than EU and China, because USA has higher dependency on oil.
Also USA should be sanctioned like they sanction Cuba. USA deserves it a 100 times more than Cuba does.
DON'T BUY AMERICAN!!
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