Oil Crisis: Difference between revisions
→Collapse of ENI
Tags: Mobile edit Mobile web edit |
Tags: Mobile edit Mobile web edit |
||
Line 83:
Ente Nazionale Idrocarburi (ENI), a dominant firm in Italy, was a key player in the country's economy, primarily supplying Middle Eastern oil. Despite warnings from economists, the Italian government ignored the situation. The Iraqi Civil War forced ENI to restart production, causing oil prices to fluctuate rapidly. ENI was backed in a significant capacity by the Italian government, the company did not go bankrupt despite the price fluctuations and an estimated stock price drop of about 81% from $135.29 USD a share to $25.73 USD per share within 48 hours of the Iraqi conflict commencing. However, it reported record losses and continued to bleed funding from the Italian government, causing a major fiscal crisis within Italy. Globally, the perceived overnight collapse of ENI led to nearly every single nation in the world suffering major economic losses. Guangdong, for instance, saw anarchic riots consume practically the entire country.
In-game, the Oil Crisis debuff applies to every nation except for Russian unifiers, and it is impossible to remove it except with console commands. If Albert Speer were chosen as Hitler's successor, the Frankfurt stock exchange would suffer a similar collapse, leading to political turmoil and ultimately the Slave Revolt. The Oil Crisis debuff is applicable to all nations except for Russian unifiers and the Republic of China and the Iberian Union, the latter 2 can remove it via their focus trees.
== Superevent ==
| |||