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As Oil Wealth Dwindles, Saudi Arabia Faces Change

At a gas station in Saudi Arabia's second largest city of Jiddah, drivers are fueling up their cars at just 45 cents a gallon — four times less than the price of water. To make that possible, the kingdom spends up to $10.7 billion per year on gasoline subsidies. It also offers a range of perks and welfare support to its citizens such as free healthcare and education, including thousands of scholarships to expensive Western universities. Such largesse, however, is likely to be...

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