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. DON'T MISS: Even Saudi Arabia vows to end its. oil Middle East energy policy United Arab Emirates Saudi Arabia

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. Over time, government provision of cheap energy had the unintended consequence of encouraging high per-capita demand,” the authors wrote.

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Global Gas Prices | Hybrid Sales

Hybrid SUV Blog

In a 2009 CNNMoney.com interview, AutoNation CEO, Mike Jackson voiced his opinion that gasoline is too cheap and that the United States government should consider a gas tax to make sure the price does not fall below roughly $3.50 Kuwait. sales of hybrid SUVs and other fuel efficient vehicles will prove interesting to watch this year, especially if fuel prices remain relatively low. Expert predictions about where oil and gas prices are headed vary widely.

2010 78

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.

2019 75

Opinion: How Much Longer Can OPEC Hold Out?

Green Car Congress

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. The Saudis, along with Kuwait and UAE have been defending the decision of not reducing the OPEC production levels in order to retain their global market share. by Gaurav Agnihotri for Oilprice.com.

2015 76