Ron Butler, a commentator on economic and energy issues, recently addressed concerns about the financial stability of major economies and energy security in several countries through a series of posts on X (formerly Twitter).
On March 27, 2026, Butler reflected on Japan’s long-term economic policies since the early 1990s: “Since Japanese Real Estate blew up in the early 90’s Japan has floated their economy & kept banks the should be viewed as Insolvent functioning on endless Deficits
Budget Deficits in the USA are so big no one can even wrap their minds around them anymore
What about Canada?
6/”
Later that day, he commented on New Zealand’s energy situation following recent disruptions to gasoline imports: “New Zealand Produces No Oil At All & They Closed Their Last Gasoline Refinery In 2022
They import 100% of Gasoline almost all from China who SHUT Gasoline exports 3 weeks ago
New Zealand is sorta Fucked right now
Eventually it will get sorted
But today it’s a crisis
2/”
In another post from March 27, Butler compared Canada’s energy security with its political challenges regarding pipeline infrastructure: “Canada exists in the safety of oil & gas self sufficient North America
But because of mistaken beliefs we let several thousand people decide whether a Country of 40M people can have a convenient pipeline to the Pacific
Safety can make a country dumb”
Japan’s economic stagnation and persistent budget deficits have been widely discussed by economists since its real estate bubble burst more than three decades ago. The United States’ national debt has also grown significantly over recent years, leading to debates about fiscal sustainability. Meanwhile, New Zealand’s closure of its last domestic gasoline refinery in 2022 made it fully reliant on imports for fuel; recent export restrictions by China have exacerbated supply challenges. Canada remains largely self-sufficient in oil and gas due to its natural resources but faces internal disputes over expanding pipeline capacity to international markets.
