The energy subsidies dam has finally broken in the Middle East | The National:
"When dams break, they begin with a small crack – until the swirling waters suddenly break through and the whole edifice collapses.
The array of Middle East energy subsidies now is also being swept away. Following on the UAE’s change to market-based fuel prices, Abu Dhabi raised utility rates, Saudi Arabia’s latest budget cut subsidies and Oman has said they will be eliminated. Bahrain will raise diesel and kerosene prices gradually, while Kuwait’s finance ministry proposes to trim more than a third from handouts.
Three powerful forces are driving this change."
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