Law of One Price defeats oil subsidy
Fuel shortages are spreading across Indonesia like an ominous red flag signaling that we have systemic problems. Long gasoline lines are everywhere, even as government subsidies grow to all-time highs with the recent approval of a massive 35 percent increase in fuel subsidies. Where is all of our low-cost gasoline and diesel fuel going?
Between 10 and 15 percent is stolen, according to the ...