I have read the various observations about the fuel pricing regime and the attendant issues generated. All certainly have strong points.
The most important issue of course is how to shield the poor from the worst effects of the policy. I will hopefully address that in another note.
Permit me an explanation of the policy. First, the real issue is not a removal of subsidy. At $40 a barrel there isn't much of a subsidy to remove.
In any event, the President is probably one of the most convinced pro-subsidy advocates.
