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Crude Oil Prices and the Coming of the Second Arab Spring
During the first Arab Spring, some countries were able to avoid the unrest by buying off their populations with goodies. But today in those countries, unemployment is increasing and alternatives to centrally subsidized survival are disappearing.
That's because this untenable balance has been sustained by the price of oil. As long as oil flowed, net outflows from the national coffers could be sustained.
During the first Arab Spring, some countries were able to avoid the unrest by buying off their populations with goodies. But today in those countries, unemployment is increasing and alternatives to centrally subsidized survival are disappearing.
That's because this untenable balance has been sustained by the price of oil. As long as oil flowed, net outflows from the national coffers could be sustained.