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Subsidies seen endangering OPEC prosperity

Posted on 27 October 2010

From Ogj.com: Member countries of the Organization of Petroleum Exporting Countries are thriving on oil export revenue but, in many cases, eroding their export capacities by subsidizing domestic consumption, warns the Centre for Global Energy Studies, London.
In its Industry Watch report, CGES calculates that OPEC producers have generated almost $5 trillion in oil-export revenue since 1998, a year of unusually low revenue when the average crude price was only $12.30/bbl……………………………………….Full Article: Source


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