These 10 countries that are running out of oil will face serious problems down the road unless new reserves are found and tapped into. For a while now, you can scarcely hear the term peak oil, which was widely used in the past to describe the end of the cheap oil era. For a while, it seemed that we are running out of oil, with the price exceeding $100 per barrel. But then United States shoal revolution got into the high gear, and prices came tumbling down, falling for a while below $40 threshold. For many oil producers, this is hardly enough to keep operating, and for many oil producing countries, especially those in OPEC, low oil prices are creating havoc in governments’ budgets. Still, any call for decreased production in order to bump up the price within the organization has been met with a resolute no from Saudi […]