Who Wins and Who Loses as Oil Spike Challenges Global Economy
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Billionaire J. Paul Getty had some sage advice for getting rich: “rise early, work hard, strike oil.”
No matter how hard residents of Hungary, the Czech Republic and Turkey work, they won’t strike oil. Nor will those in the Philippines, India and Thailand. They’ll be the biggest losers if this month’s spike in crude prices is extended, say UBS AG economists Larry Hatheway and Andrew Cates.