February 15, 2011

Egypt - Energy and Food

In 2006 Egypt spent about $10.8 billion a year subsidizing oil & gas products, according to the International Energy Agency.  Each Egyptian is thus writing a $135 yearly check to subsidize its fossil fuel insustry.  In a country where 19.6% of the population lives on less than $1 per day and the average family spends 40% of their income buying food this is an unsustainable policy.

Egypt can transcend its chronic poverty and become an energy world power.  If Egypt were to build solar power plants in an area similar to the Aswan hydro-electric dam it would produce the energy equivalent of all of the Middle East oil exporters combined.

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