Downfall of oil consuming infrastructure
Posted: Mon 18 Nov 2019, 16:47:57
Worldwide car sales are falling. India is a good example.
For India, the oil price of >100 $/barrel before July 2014 has been too high, the car sales dropped. Low prices from 2014 to spring of 2018 allowed the growth of the car industry. Beginning 2018, 70$ Brent and more caused a severe crisis for indias car industry.
As usual, poor people are hit harder by a crisis than the rich ones.
For India, the oil price of >100 $/barrel before July 2014 has been too high, the car sales dropped. Low prices from 2014 to spring of 2018 allowed the growth of the car industry. Beginning 2018, 70$ Brent and more caused a severe crisis for indias car industry.
As usual, poor people are hit harder by a crisis than the rich ones.