How will lower oil prices affect the Middle East?
Every time the price of a commodity goes up or down, we can distinguish a list of probable winners and losers. For example, lower oil prices in a capitalist democracy would benefit consumers and make exploration and production companies less profitable.
In a theocracy, dictatorship or autocracy then the situation doesn't resemble supply and demand, at least not in the short to medium-term. I remember seeing headlines about holes in finances and sovereign wealth funds not being able to keep up with social handouts. There were countdowns to when different countries might run out of money.
In a feudal type system, alms for the poor and needy, and other enticing freebies are used to help keep the status quo and stop the peasants from revolting.
It's likely that in the next 10 years, we'll see lower prices as supply keeps increasing. In the last week or so there are talks within OPEC about increasing supply, accompanied by Twitter admonishments by Trump, related to "artificially high prices". 'The Donald' seems to be on a roll since being elected - will we see de-nuclearisation of North Korea? Much lower oil prices?
The way that solar prices have been coming down, will oversupply be overshadowed by dropping demand? I know that my question throws up a few different topics, but these are some of the things that really fascinate me.