Oil Killed The Bear
Boy. The nets is buzzin' today.
Kevin Drum put up a great post today on the end of the Soviet Union. In that post, he postulates that it was Saudia Arabia's change in oil policy that ended the Soviet Union. When Saudi Arabia increased production, causing a perciptious drop in oil prices in the 80's, the loss of income to the Soviet Union was crippling requiring help from the West.
Sorry St. Ronnie. You just happened to be Preznit when it happened.
2 comments:
I thought what killed the Soviet Union was their huge military budget... oh, that could be us!
Yep, except they couldn't finance it anymore without more petrodollars. Along with a quagmire in Afghanistan, they went broke.
Oh wait. That is us!
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