9 July 2012. Kjell Aleklett. Egypt condemned to continued chaos without its earnings from oil ASPO.
The main problem with Egypt is their population has grown far past the ability of their nation to feed its own people. When Egypt was still exporting oil, the money earned was used to buy food, but now that Egypt is importing oil, the price of food has skyrocketed, people are hungry, and so there’s no end to social unrest in sight. Plus they’re in a much better position than North Korea is to blackmail the world into providing them with oil and food — they’re sitting right next to the Suez canal, which is a critical route for 5% of the global oil supplies.