A socialist welfare state can only be maintained by extraordinary means, oil is just that commodity and conduit, if it fails the artificial system collapses.
OPEC leaders decided to not increase oil production, sending prices to a four-year low.
Falling oil prices can sink Denmark’s budget
Published: 28 Nov 2014 09:25 GMT+01:00
The Danish government’s 2015 budget calculations are built upon the ability to sell North Sea oil at $110 a barrel, but oil prices have fallen below $70 a barrel and economists warn of a massive budget deficit.
Oil prices hit a four-year low on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) leaders decided to not adjust production output quotas.
At an OPEC meeting in Vienna, the group decided against raising the existing 30 million barrel a day production limit, sending prices for light, sweet oil tumbling down to under $70 a barrel.
While that might be good news for motorists, it could prove disastrous for the Danish government’s budget, which is built upon Denmark’s ability to sell North Sea oil at $110 dollars per barrel in 2015.