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Crude differences: The changing global energy order

A new Petroleum Economist graphic shows which countries have done nicely in the high-oil-price era – and which haven't. It's a snapshot of the changing global order, explains Derek Brower

WHERE did all the money go? Mortgage lenders in the US gave cheap temporary deals to risky house buyers. By the time these mortgages became too onerous for the homeowners to service, the IOUs had been sold to Wall Street's investment banks, exposing some of these august firms. Some went under, some were bailed out. Credit dried up internationally. Consumer spending dropped. Global growth slowed. Ballooning deficits suddenly threatened to cripple economies. Some countries went into recession. Bond markets pounced on weakness. Governments spent heavily on stimulus programmes and financial bail outs, printing money to devalue their currencies and deflate their debts. And when the tide went out

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