Re:Reasons the banking crisis isn’t a repeat of 2008
by Armisael16 on Saturday March 25, 2023 @08:13AM
(#35301893)
The US is not a petrostate. Petrostates are defined not just by the large amounts of oil and gas they extract but the relative absence of other economic activity and the dependence of the state on that money.
42% of Saudi GDP is petroleum.
35% of Kazakh GDP is petroleum.
8% of US GDP is petroleum.
42% of Saudi GDP is petroleum. 35% of Kazakh GDP is petroleum. 8% of US GDP is petroleum.