July 02, 2013

Why the Arab Spring Fails

25% of Egypt's budget goes to price subsidies

Everyone wants to get rid of the quasi-communist Arab socialist dictatorship, but none want to get rid of quasi-communist Arab socialist economy.

I mean just think, Egypt a nation right next to Saudi Arabia that produced 630K bbl/d and 48.3 billion cubic meters of natural gas in 2008 cannot refine nor sustain an unsubsidized market for its own energy.

By Howie at 09:51 AM | Comments |