CanaiiWhat happens if oil hits $200 a barrel? Alberta or Texas will be fine. But economies that don't produce oil are screwed. Especially those that depend on cars.
RememberTheApollo_That’s not how it works unless oil production gets nationalized. Oil produced locally is sold on the global market, literally the very reason it could hit the hypothetical $200 a barrel. The oil production would have to be nationalized in order to restrict the supply to the local market, then you’d pay prices based on whatever the local market would pay.