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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Snowshoe who wrote (158740)10/21/2011 8:48:41 AM
From: elmatador   of 206126
 
Oil exporters have money to buy social peace: Algeria responded to the Arab Spring with public sector wage rises, more generous food subsidies (lowered the custom duties and taxes on sugar and other food stuffs by 41% as a temporary act to cut prices) and handouts to the young unemployed; with foreign currency reserves of about $150 billion, it can continue to do this.

But it faces a long-term threat: gas production from Algeria's biggest fields has reached a plateau and will soon start dropping. There is growing acknowledgement in the government that the restrictive hydrocarbons law must be liberalized to spur gas investment, but so far no reform plans have been announced
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