SWP Research Paper 2012/R 01, January 2012, 49 Pages
According to estimates by HSBC, for example, Saudi Arabia will spend more than $70 billion on energy subsidies in 2011, or more than $2,500 per inhabitant. For that cost they keep the price of petrol at just $0.12 per litre, as well as holding down the consumer price of electricity. The inevitable consequence is wasteful use of energy. ................
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