Statements by Iraqi Finance Minister Ali Alawi are making waves in Iraq but also outside it. Alawi stressed that if the oil states do not take significant steps to disengage from dependence on black gold they will find themselves facing a broken trough.

The minister warned that within 10 years, oil sales would begin to decline, and for Iraq this means that millions of government employees will be forced to leave their jobs.

According to Alawi, after 2030 production of gasoline-powered cars in the world will stop, and by 2040 all cars will already be electric.