[@economics_that_works](https://fedigroups.social/@economics_that_works )
Every destructive act has its consequences. Oil dominance emerged in the 60s because the western cartel known as the seven sisters controlled 85% of the world’s oil reserves held the price of oil fixed for at least a decade, meaning that the price of oil declined in real terms over the decade out, competing domestic energy sources on price as well on its chemical advantages.
https://www.nature.com/articles/s41598-025-32754-9
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