There are those who want to force humanity into ‘degrowth.’ That is a dangerous path to go down, and it is unnecessary. Our capitalist economy is becoming more and more efficient over time. In short, it is doing more with less.
The apparent deterioration in US-Saudi relations comes amid a recent worldwide trend toward de-dollarization with key, ascendent geopolitical actors, including but not limited to China, Russia, India, and Brazil all taking steps to reduce their use of the U.S. dollar.
According to Reuters, the total of recent cuts by the OPEC+ group, which includes Russia, has increased to 3.66 million bpd and accounts for 3.7% of global demand.
According to the company, the tax on ‘excess profits,’ whatever boon it might be for the EU’s coffers in the short term, is ultimately “counterproductive,” since it would scare off prospective investors.
