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Keyword: fuelsubsidy

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  • Analysis: Mideast held back by cheap fuel (curse of energy subsidy)

    08/24/2007 4:00:12 PM PDT · by TigerLikesRooster · 1 replies · 199+ views
    EARTHtimes ^ | 08/24/07
    Analysis: Mideast held back by cheap fuel WASHINGTON, Aug. 24 Faced with high international oil and gas prices, some Middle Eastern countries are struggling to squirm out from under hugely popular, but economically crushing, energy subsidies. Nations across the region, from Iran to Egypt, have for years been burdened with fuel subsidies that sap national budgets, cut into economic investment in other sectors and interrupt serious reforms. Oil price increases have been a double-edged sword in the region, bolstering national budgets to permit continued subsidies, but also allowing the oil-rich countries to put off economic reforms, which could lead to...