NEWS | Saudis Plan Unprecedented Subsidy Cuts to Counter Oil Plunge | Rigzone

NEWS  |  Saudis Plan Unprecedented Subsidy Cuts to Counter Oil Plunge  |  Rigzone: "Confronting a drop in oil prices and mounting regional turmoil, Saudi Arabia reduced energy subsidies and allocated the biggest part of government spending in next year’s budget to defense and security. Authorities announced increases to the prices of fuel, electricity and water as part of a plan to restructure subsidies within five years. The government intends to cut spending next year and gradually privatize some state-owned entities and introduce value-added-taxation as well as a levy on tobacco. The biggest shake-up of Saudi economic policy in recent history coincides with growing regional unrest, including a war in Yemen, where a Saudi-led coalition is battling pro-Iranian Shiite rebels. In attempting to reduce its reliance on oil, the kingdom is seeking to put an end to the population’s dependence on government handouts, a move that political analysts had considered risky after the 2011 revolts that swept parts of the Middle East. “This is the beginning of the end of the era of free money,” said Ghanem Nuseibeh, founder of London-based consulting firm Cornerstone Global Associates. “Saudi society will have to get used to a new way of working with the government. This is a wake-up call for both Saudi society and the government that things are changing.”"

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What are some little known facts about Cajun culture? - Quora

What are some little known facts about Cajun culture? - Quora: "The people who today are known as Cajuns came from a small area around Poitou on the central west coast of France."

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At Least 32 Dead in Worst Offshore Disaster since Piper Alpha - Oil and Gas News

At Least 32 Dead in Worst Offshore Disaster since Piper Alpha - Oil and Gas News: "Oil and Gas People has learned that at least 32 People are dead in what has been hailed one of the worst offshore disasters since Piper Alpha. The incident in the Caspian Sea yesterday happened on Platform 10 on the Guneshli field offshore Azerbaijan. It is believed severe weather ruptured a gas line causing an explosion and huge fire that engulfed the platform. Rescue was hindered due to 8m waves and strong winds. Just a few hours after the incident and as Oil and Gas People were getting reports of people trapped in lifeboats blown against the platform, a spokesman for the State Oil Company (SOCAR) went on record saying that everyone had been safely evacuated. The region is notorious for controlling the media and very little information has been released by SOCAR who have declined to take our calls."

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