Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: Snowshoe	1/24/2010 5:05:27 PM
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This could cause some political fireworks, but rationalizing Iran's energy prices is badly needed. Other countries in the same boat include Saudi Arabia, Mexico, Nigeria, Indonesia, etc... Iran approves bill to cut food, fuel subsidies finance.yahoo.com The law would gradually cut energy subsidies, bringing the heavily discounted fuel prices more in line with international prices. Officials say the step is needed to recoup some of the roughly $90 billion spent yearly on subsidies by OPEC's second largest oil exporter. Subsidies currently consume about 30 percent of the government budget at a time when already high spending and the collapse of oil prices last year hammered Iran's economy.

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