On the BBC news this morning that S.A. is cutting water and electricity subsidies and...wait for it, petrol subsidies to their people, so they can try to balance their budget. This is on top of all the other measures they have taken to reduce the impact of the low POO. Lets hope sanity prevails and the POO settles back in at around $ 70.-. I would not consider this greedy, just necessary to prevent a third world collapse. Dramatic? Maybe. But considering oil is the largest commodity in the world, its impact is dramatic.
Events today
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