Cheap oil throws wrench into Middle East budgets

http://baltimorecheckbook.tumblr.com/post/141195143347/cheap-oil-throws-wrench-into-middle-east-budgets#_=_

Oil’s dramatic price fall has sent shock waves through many Middle Eastern economies. Generous fuel and food subsidies have been slashed, new taxes introduced, and social benefits axed. The years when oil cost $100 a barrel and generated $1 trillion do…



from http://www.wbaltv.com/money/cheap-oil-hits-middle-east-budgets-we-can-no-longer-provide-for-everything/38558264