Can Turkish economy survive high energy prices?

One of the test beds of peak oil, or supply constraints, is Turkey. The country is not gifted with many hydrocarbon reserves and faces a decline in its oil production. The rising thirst of energy for this developing country relies on exports from close countries. Natural gas, which is not peaking soon, is also a twin brother of oil in terms of pricing of the contracts, yet Turkey has no chance on this front either.

Turkey has already paid more that 30 billion US dollars last year for its energy exports (more than 7% of GDP). The advocates of


Free market adventure is slowly turning in to chaos. More and more the