Egypt is in deep troubles – its fuel subsidy bill is unsustainable reaching almost 30 percent of government expenditure, its foreign reserves have reached a critical level ($13,5bn), negotiations with the IMF are not running well, and there is, literally, no money left to finance its consumption of subsidised fuel, particular diesel which is already more »
At OpenOil we’re researching fossil fuel subsidies because we want to join the global debate on how to end them. They will cost about $600 billion this year, are a massive drag on the development of green energy and mostly serve the rich. There really is very little to be said for them. But it more »
OpenOil continues its’ series of analyses on the possibility of oil dividends commissioned by the Center for Global Development As South Sudanese is about to resume it oil production soon, we have tried to model the possibility of an oil-to-cash dividend for the newly independent state. The thinking, as ever, in a direct distribution is more »
The debate on how Ghana should deploy it’s oil wealth continues. Guardians of fiscal rectitude are concerned that the government budget has already leapt with joy to a deficit high point of over 10% of GDP before the first barrel’s even been landed. That hasn’t stopped the government getting locked into a huge argument over the sale of the Kosmos interest to ExxonMobil, with all the accompanying accusations of vested interests on all sides. An earlier promise to publish all the oil contracts has not materialised, though the Revenue Watch Institute are still working on it.