“Gas Taxes and Oil Subsidies: Time for Reform”
AUGUST 12, 2015
Many emerging market countries have taken advantage of the last year of falling oil prices to implement such reforms. Jeffrey Frankel at Econbrowser : World oil prices have been highly volatile during the last decade. Over the past year they have fallen more than 50%. Should we root for prices to go up, down, or stay the same? The economic effects of falling oil prices are negative overall for oil-exporting countries, of course, and positive for oil-importing countries.