Australia Doomsday Scenario Sees Oil Hit $200 on War Escalation

Australia Doomsday Scenario Sees Oil Hit $200 on War Escalation

(Bloomberg) — Australia’s government conducted scenario analysis in its annual budget under which the war in Iran intensifies, driving oil to $200 a barrel and throwing the global economy into chaos.

What made my jaw drop and eyes pop this budget? The ‘Mad Max’ scenario

US$200 for a barrel of oil? In this economy? The post What made my jaw drop and eyes pop this budget? The ‘Mad Max’ scenario  appeared first on Crikey.

Australia Doomsday Scenario Sees Oil Hit $200 on War Escalation - Energy News Beat

Australia’s own Treasury has run the numbers on a nightmare escalation of the Iran conflict — and the result is a doomsday scenario that would send global oil prices to $200 a barrel, throw the world economy into chaos, and expose just how fragile Australia’s energy position has become. In its annual budget papers released Tuesday, Treasurer Jim Chalmers’ department laid out the worst-case outlook: a protracted war or further damage to Middle Ea…