Middle East Economic Survey
VOL. LIII
No 24
14-Jun-2010
IEA Sounds Alarm Over $557Bn Energy Subsidy Spend
Global spending on energy subsidies rocketed by 63% to $557bn in 2008 from the year before, with Middle East Gulf oil and gas producers Iran and Saudi Arabia occupying first and third spots respectively among the worlds energy subsidizers, a new study by the International Energy Agency (IEA) shows. The message of the IEA study, prepared for presentation to the 26-27 June G20 summit in...
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