World Citizen: No Silver Lining for Oil Exporters

AMMAN, Jordan — Little more than six months ago, the government of Jordan broke some most unwelcome news to the population. As oil-rich neighbors nearby basked in fantastic wealth from seemingly unstoppable jumps in oil prices, importers such as Jordan could barely cope. The government in Amman decided it could no longer afford oil subsidies. Almost overnight, fuel prices took off, some rising more than 75 percent. Before long, the cost of food followed suit, with some staples quickly doubling in price. The shock has not quite worn off, but suddenly things are changing. Now that oil prices have rediscovered […]

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