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101 comments on Forecasts on Saudi Arabia liquids production

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Iconoclast421 on July 29, 2008 - 2:26pm Permalink | Subthread | Parent | Comments top

I'm sure they would take issue with your use of the word "waste"

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neal on July 29, 2008 - 9:42pm Permalink | Subthread | Parent | Comments top

It's waste, whatever the commodity. An example, my relatives in Egypt buy subsidized bread so cheaply that they feed chickens with fresh bread. Bakers frequently ensure a batch of bread burns and is unsuitable for humans as the price for 2nd grade bread is higher than what they can sell fresh bread for. A loaf costs less than a cent (5 piastres), the same price that I paid 20 years ago when the Egyptian pound was near parity with the dollar and wheat was a quarter the price of now. It was subsidized then and is still subsidized even though the value of the flour is up twentyfold. Consumption is also up (higher population and more consumers substituting for more expensive food).
Egypt has the same problem with subsidized fuel. Subsidized 80 octane (about 80 cents/gallon) demand is way up and shortages have caused riots and knife fights at the pumps in Cairo last week

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101 comments on Forecasts on Saudi Arabia liquids production

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