Much of Russia’s revenue is based on their oil fields. But oil fields don’t just go on and off at the flick of a switch.
A handful of refineries across Russia have already announced reductions in output due to a lack of demand. This is not good news. If refineries don’t have customers, the oil fields and pipelines that supply them don’t, either. Ditto for storage. Which means oil stays in the ground. And pipelines lay idle. For a Russia without foreign investment, foreign oil services firms, foreign technology, and foreign buyers, the future looks bleak indeed.
If you’re interested at all in the near and long term future of the world, this video is very worth watching.
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At the beginning of the COVID pandemic, Peter Zeihan has asked his readers who were so inclined and able to consider donating toward a cause we thought was important: Feeding America.
While we still believe strongly in their mission, with recent events in Ukraine we are asking our subscribers to consider supporting a charity focused on relief efforts there. There are many good ones to choose from, but one in particular we are supporting is the Afya Foundation.
They collect money and health supplies for underserved communities in the world, and have begun delivering non-combat support to refugees and population centers in Ukraine. We hope that those who can, join us.