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Oil is cheap, so Kuwait raised its own gas price to compensate

Green Car Reports

Cheap gasoline is good news for the economies of most countries, but not those that rely on oil exports. In some cases, that means cutting back on cheap gas for their own citizens. The sustained fall in global prices has led oil-producing countries to search for ways to keep their revenues up.

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Baker Institute: End of the ‘Big Oil giveaway’ is underway in the Persian Gulf

Green Car Congress

In recent years, all six Gulf monarchies—Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Oman, Qatar and Bahrain—have begun to challenge the notion that citizens are entitled to cheap energy. Policymakers hope higher energy prices can produce a number of helpful effects, the authors said.

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Junkyard Find: 1992 Geo Metro 4-door hatchback

The Truth About Cars

Amazingly, the right-side mirror was included at no extra cost on all 1992 Metro models except the gas-mileage-king XFi. Gas was cheap during the late 1980s and early 1990s, other than a spike after Iraq invaded Kuwait , but some car buyers still wanted good fuel economy. Gets 100 kilometers per 4.5

Suzuki 105
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Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Cheap oil has created a huge financial crisis for Venezuela as its economy is heavily dependent on oil exports and oil revenues constitute about 95% of its total foreign exchange earnings. Venezuela’s Woes.

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Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers

Green Car Congress

Saudi Arabia and Kuwait might, and should be encouraged to do so. Petro-states are compensated to transition smoothly to a sustainable economy, avoiding a last-ditch attempt to flood the world with cheap oil and gas. Governments might link low-carbon technology with foreign and security policy, as they did with oil and gas.

Carbon 207