Monday, October 03, 2005

High Oil Prices Met With Anger Worldwide

Indonesians struggle for queue numbers to take cash from the government. This weekend the government said gas prices would nearly double. (By Yusuf Ahmad -- Reuters)
High Oil Prices Met With Anger Worldwide
Both Rich and Poor Countries Make Moves To Appease Citizens
By Paul Blustein and Craig Timberg, Washington Post Staff Writers
Monday, October 3, 2005

Rising fuel prices are stoking popular anger around the world, throwing politicians on the defensive and forcing governments to resort to price freezes, tax cuts and other measures to soothe voter resentment.

The latest example came this weekend in Nigeria, where President Olusegun Obasanjo promised in a nationally televised Independence Day speech that the cost of gasoline would not increase further until the end of 2006, no matter what happened in global oil markets. He acted after furious demonstrations shut down whole sections of major cities around the country over the past several weeks.

Antagonism over the strains inflicted by escalating energy costs is a phenomenon that stretches from rich nations in Western Europe, where filling up a minivan costs upward of $100, to poor countries in Asia and Africa, where rising oil prices have driven up the cost of bus rides and kerosene used for cooking.

Read the full article at : High Oil Prices Met With Anger Worldwide

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