“War is a racket” – Major General Smedley D. Butler, 1933. 

Economic historians have long debated whether war is beneficial or detrimental to a nation’s economy. 

During the 1930s, the German economy came out of a serious depression after Hitler came to power and started to prepare for war. World War II was an economic boom to the US as its economy shifted into a defense industry economy. This boom fueled what Tom Brokaw labelled “The Greatest Generation” increasing the living standard of an entire generation and lasting through the end of the Viet Nam War.

So what will economic historians say about Operation Epic Fury?

Let’s focus on oil and the countries that produce oil, and how the current conflict between the United States and Iran affects these economies.

Globally, crude oil production ranges from 86 to 109 million barrels a day. OPEC accounts for 40% of global output and when Russia is included as a member of OPEC , the total accounts for 50% of global daily output.

OPEC consists of the following countries…Saudi Arabia, Iraq, Iran, Kuwait, UAE*, Venezuela, Nigeria, Algeria, Libya,........

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