In my last blog I touched a bit on the Middle East and it’s tourism economy tanking. However I ran across some Tok Tok posts recently, that alarmed me. These were videos of people getting gas for as cheap as less than a dollar per gallon. Absolutely unreal right? It seemed fake, fake enough for me to do some digging.
After I began to research this I found that not only was it true, but even my gas station is selling gas for $1.34 per gallon. As someone who is used to paying $2-3 per gallon this is absolutely unreal gas prices. While as a consumer this must be great, I quickly thought about where the majority of oil comes from in the world. And what that would do to their economy.
While digging through news articles, I found one from hurryietdailynews which I credit this information to, that showed the statistics on country growth. While I won’t get into insane specifics, all of the major oil countries are either projected to grow much less than they were going to, or are expected to sink more than they were expected to. Countries. Not the oil companies themselves, the countries that they inhabit. It’s very sad to see the COVID-19 crisis affecting the world in this way, and crazy how much you can find interest in on something as simple as Tik-Tok.